Central Banking

Saudi Arabian Monetary Authority

The Saudi Arabian GDP expanded by 8.8% in nominal terms in 1999, amid strong oil prices since April last year, the central bank said in its annual report released today.

In its report submitted to King Fahd Tuesday, the Saudi Arabian Monetary Agency said the oil sector GDP increased 23.7% and the non-oil, or other sectors, achieved 2.5% growth in the year. Saudi Arabia's main export commodity is crude oil, with current production around 8.67 million barrels a day. The government obtains more than

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