Agricultural share of Saudi GDP reaches highest level amounting to SR100 billion

  • 7/5/2023
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Saudi Arabia’s Deputy Minister of Environment, Water and Agriculture Eng. Mansour Al-Mushaiti said that the agricultural sector recorded its highest contribution to the gross domestic product (GDP) in its history, reaching SR100 billion during the year 2022. Addressing the 43rd session of the General Conference of the Food and Agriculture Organization of the United Nations (FAO) in Rome, he said that the Kingdom witnessed remarkable growth and development in agricultural investments that were reflected in the value of domestic agricultural products. Al-Mushaiti said Saudi Arabia has achieved high rates of self-sufficiency in many agricultural crops, especially those that rely on modern technologies, due to its reliance on integrated water management, which contributed to reducing agricultural consumption from 86 percent to less than 70 percent. The deputy minister indicated that the Kingdom has adopted many strategies, initiatives and programs to promote sustainable agricultural development, raise the efficiency of water resources management and preserve natural and environmental resources. “Saudi Arabia has several important strategies in this regard, and the Agricultural Development Fund has adopted lending policies that depend on supporting modern technologies, with its lending exceeded 70 percent of the capital costs of agricultural projects,” he said. Al-Mushaiti emphasized that Saudi Arabia’s lending rate jumped from SR500 million in 2015 to SR7 billion in 2022. He also affirmed the Kingdom’s continued support for the efforts of FAO to achieve the security of water and food and combat hunger and poverty at all local, regional and international levels. The FAO session, which began on July 1 will conclude on July 7. The organization re-elected on Sunday QU Dongyu to a second term as director general of FAO. In ballot by FAO member countries, Qu received a total of 168 out of 182 votes deposited. Nominated by China, Qu was the only candidate to FAO’s top position and his new term will run from 1 August 2023 to 31 July 2027.

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