The latest data released by the
Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (“GCC-Stat”) revealed that the nominal Gross Domestic Product (GDP) of the Gulf Cooperation Council (GCC) countries reached US$456.3 billion by the end of the fourth quarter of 2024, up from US$442.3 billion at the end of the fourth quarter of 2023, reflecting a growth rate of 3.3%.
The data indicated that the contribution of non-oil activities to the GCC’s nominal GDP reached 70.6% by the end of the fourth quarter of 2024, compared to 29.4% from oil activities.
Compared to the third quarter of 2024, the nominal GDP of the GCC countries recorded a growth of 1% in the fourth quarter of 2024, reaching $452.2 billion.
