GCC marks 44th anniversary, Statistical Center affirms strong progress as a recognised global alliance

• Gulf economy ranks 11th globally, with a GDP of $2.1 trillion and reserve assets of $748 billion

Muscat, Oman – The Statistical Centre for the Gulf Cooperation Council (GCC) affirmed that the GCC’s presiding over the 44th anniversary of its establishment comes as it stands as a leading model of regional cooperation. The Council continues to contribute to strengthening fraternal, economic, and developmental ties among member states, reinforcing coordination and joint developmental action across the region.

Her Excellency Intisar bint Abdullah Al Wahaibi, Director General of the GCC Statistical Center, stated that the Center is one of the most notable outcomes of this cooperation, reflecting the advancement of joint Gulf action. It provides accurate and standardised data and indicators that support decision-making, inform policy formulation based on reliable data, and contribute to the realisation of sustainable development goals across the GCC.

She noted that the GCC has achieved significant progress as a globally recognised economic bloc, now ranking 11th worldwide with a total GDP of $2.1 trillion. The foreign reserve assets of GCC states stand at $748 billion, while the total assets of their sovereign wealth funds are estimated at $4.9 trillion, representing 37% of the assets held by the world’s top 100 sovereign wealth funds.

The GCC also holds 30% of the Middle East’s renewable electricity production capacity, in line with its transition towards clean energy. Furthermore, GCC capital markets represent 4.3% of the total global market capitalisation, ranking 7th worldwide.

Artificial intelligence is expected to contribute 34% of the GCC’s GDP by 2030. Additionally, five GCC countries are ranked among the world’s top 50 economies in government readiness for AI, significantly exceeding the global average.

Her Excellency reaffirmed the Center’s commitment to advancing the statistical infrastructure, building national capacities, enhancing transparency and information accessibility, and supporting joint Gulf efforts to empower policymakers and shape a prosperous future.