EXPENDITURE ON GROSS DOMESTIC PRODUCTS DURING THE FIFTH DEVELOPMENT PLAN 1990

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EXPENDITURE ON GROSS DOMESTIC PRODUCTS DURING THE FIFTH DEVELOPMENT PLAN 1990-1994

In real terms, while private consumption grew at an average annual rate of 4.1 percent, government consumption fell at an average annual rate of 3.3 percent. Accordingly, this limited the net growth in total consumption expenditure on GDP to an average annual rate of 1.1 percent during the fifth development plan (see table 4).

Investment in the oil sector increased during the fifth development plan from SR1.5 billion in 1409/1410 (corresponding to 1989) to SR4.9 billion in 1414/15 (corresponding to 1994), or at 26.3 percent annual rate of growth. On the other hand, meanwhile private investment grew moderately by 2.1 percent annually (from SR32.6 billion in 1990 to SR36.2 billion in 1994), government investment fell by an annual rate of 12.2 percent (from SR26.3 billion in 1990 to SR13.7 billion in 1994). Hence, the gross fixed capital formation fell by an annual average rate of 1.9 percent during the period 1990-1994.

TABLE 4 *
Expenditure on Gross Domestic Product During Fifth Development Plan 1990-1994
(at constant 1989 prices) **

Expenditure (SR billion)

1409/10H. - 1989 1414/15H. -1994

Average Annual Growth (percent)

Target Actual

Consumptio
Government
Private 259.3
114.3
145.0 273.5
96.6
176.9 2.6
1.5
3.5 1.1
(3.3)
401

Gross Fixed Capital Formation
Oil
Government
Private 60.4
1.5
26.3
32.6 54.8
4.9
3.7
36.2 7.5
3.2
8.6
6.8 (1.9)
26.3
(12.2)
2.1

Change in stocks
Domestic Final Demand 6.8
326.5 (3.9)
324.4 -----
3.1 -----
(0.1)

Net Exports
Exports
Import (15.7)
120.3
136.0 56.4
184.1
127.7 -----
4.0
3.2 -----
8.9
(1.2)

Gross Domestic Porduct 310.8 380.8 3.4 4.1

* Source: Central Department of Statistics, Kingdom of Saudi Arabia
** The values shown for real growth of expenditure components are measured at 1409/10 (1989)prices and are not comparable with corresponding values at current prices.
( ) Figures in brackets denote negative values.

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