Saudi Arabia: GDP per capita rises to 22 thousand riyals

Saudi Arabia: GDP per capita rises to 22 thousand riyals



Riyadh (dpa)


Published in :
Tuesday, November 6, 2018 – 1:11 AM
| Last updated :
Tuesday, November 6, 2018 – 1:11 AM

The Saudi General Organization for Statistics said Monday that the per capita value of current prices reached 21997 riyals, an increase of 14.91 percent compared to the second quarter of 2017.

The Authority said in a press release on Monday that the value of GNI per capita in the second quarter of this year at current prices amounted to 22,272 riyals, an increase of 14.20 compared to the corresponding quarter of the previous year.

This indicator reflects the individual's ability to obtain consumer goods and services and gives an impression of average per capita income in the Kingdom on a quarterly and annual basis and is used as a measure of the economic development of the countries of the world and for comparison between countries.

According to the authority, the current account of balance of payments surplus amounted to 9.88% of GDP during the second quarter of this year, while the ratio of current account deficit to the balance of payments to GDP was 3.24% during the second quarter of 2017.

The total saving for the second quarter of this year amounted to 242 billion and 497 million riyals, an increase of 29.13 percent compared to the value in the same period of the previous year of 187 billion and 793 million.

According to the authority, the gross savings to GDP ratio increased in the second quarter of this year to 33.9 percent compared to 18.18 percent in the same period of the previous year.

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