(MENAFN) The Saudi General Statistics Department announced that last year; the country's gross domestic product (GDP) surged by 31 percent in current prices from 2010, reaching USD585 billion, reported Arab News.
The agency said that growth of the private sector jumped by 14.7 percent.
The country's total exports exceeded USD375 billion; moreover, non-oil exports grew 31 percent, reaching USD46.86 billion, and representing 8 percent of the country's GDP.
On the other hand, in the first quarter of the current year, the country's GDP expended by 5.94 percent in real prices, according to preliminary reports.
Whereas in current prices, it grew by 15.96 percent to USD163 billion, compared with USD140.6 billion in last year's same period.
It is worth noting that in 2012's first quarter, the Kingdom's public sector GDP went up by 0.17 percent to USD23.75 billion in current prices, up from USD23.71 billion in 2011's same quarter, and grew by 4.24 percent in real prices.