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Saudi, $347bn nominal GDP
- Saudi Arabia: Monday, February 19 - 2007 at 07:28
Saudi Arabia's nominal GDP grew 12.4% last year to hit $346.9bn, according to a report by Kuwait's Global Investment House and cited by Arab News. Real GDP growth lifted by 4.2% and reached $213.3bn but the growth rate was down on 2005's 6.3%, due in part to Opec production cut backs as a result of declining oil prices. But Global's report said the oil sector grew by 16% last year.
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Jonathan Sheikh-Miller, Deputy EditorMonday, February 19 - 2007 at 07:28 UAE local time (GMT+4)
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