$2.3 trillion GDP for the Gulf countries in 2024

The “GCC in Numbers” report, issued by the Statistical Center for the Cooperation Council for the Arab States of the Gulf, highlights what has been achieved in a steadily expanding economic, social and development system, and reveals qualitative leaps in competitiveness, energy, trade and digitization during the year 2024, which was characterized by growth driven by non-oil sectors, improved quality of life, the development of digital infrastructure, and the growing regional and international presence of the Gulf economies.
The report presents comprehensive data on macroeconomic indicators that confirm that the GCC countries continue to achieve real growth in domestic product thanks to economic diversification programs and financial reforms. The gross domestic product reached $2.3 trillion, ranking ninth in the world and registering a growth of 2.2%.
The report also shows an improvement in global economic indicators, including competitiveness, flexibility, and economic dynamism, as the GCC countries rank first in the world in oil reserves with 511.9 billion barrels, third in the world in natural gas production with 442 billion cubic meters, and second in natural gas reserves with 44.3 billion cubic meters.
The GCC countries also ranked tenth globally in total exports, amounting to 849.6 billion US dollars, 11th place globally in imports, amounting to 739.0 billion US dollars, tenth place globally in trade exchange, amounting to one trillion and 589.5 billion US dollars, and sixth place globally in trade surplus surplus, amounting to 109.7 billion US dollars.
The GCC countries also ranged between 15 and 52 on the Human Development Index, a very high ranking.