GCC countries recorded robust economic and social performance in 2024, cementing their position as a major global economic force, according to the newly released “GCC Countries’ Statistics at a Glance 2024” by GCC-Stat.
The report highlights strong GDP growth, fiscal resilience, and improvements across population, healthcare, education, energy, and tourism sectors.
The GCC ranked ninth globally in GDP at current prices, producing approximately US$2.3 trillion, while GDP per capita continued to outpace the global average from 2016 to 2024. External trade indicators placed the region among the world’s largest exporting and importing economies, with a merchandise trade surplus of US$109.7 billion, reflecting the strength of Gulf supply chains.
Government revenues reached US$659.3 billion in 2024, against expenditures of US$670.2 billion, resulting in a controlled budget deficit. Population figures rose to 61.5 million, growing at an annual rate of 3.3 percent, with improvements in mortality rates, natural population growth, and stability in marriage and divorce trends.
Healthcare infrastructure showed significant progress, with high ratios of hospitals, physicians, and hospital beds per 10,000 residents. Education investment expanded across all levels, increasing both schools and teaching staff.
The GCC maintained its global leadership in energy production, averaging 16.1 million barrels of crude oil per day, alongside rising electricity production and consumption. Water management continued to rely on desalination and reuse to meet growing demand.
Tourism rebounded strongly, with increased visitor numbers and hotel capacity, supporting economic diversification. The region also achieved leading positions in the Human Development Index 2025, reflecting overall improvements in living standards, healthcare, and education.
GCC-Stat’s report underscores the resilience and strategic growth of Gulf economies, showcasing a balanced approach to economic performance, social development, and global competitiveness.
News Source: Emirates News Agency
