Annual GDP growth averaged almost +5% in the period 2010-15 but weak oil markets and associated policy responses provide a different environment.
GDP increased by around +10% in 2011, with strong performances by manufacturing and the services sector, as well as the oil and gas industry. Indeed, the short-term impact of the Arab Spring was positive for the economy as oil output was increased to substitute for disrupted supplies elsewhere.
Saudi Arabia: Pro-active policy response to counter weak oil prices - Report
GDP increased by around +10% in 2011, with strong performances by manufacturing and the services sector, as well as the oil and gas industry. Indeed, the short-term impact of the Arab Spring was positive for the economy as oil output was increased to substitute for disrupted supplies elsewhere.
Saudi Arabia: Pro-active policy response to counter weak oil prices - Report