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