Economy of the Arab League

Last updated

The economy of the Arab League is the economy of the member states of the Arab League. The economy has traditionally been dependent on exports of oil and natural gas; however, the tourism sector has grown rapidly, becoming the fastest-growing sector in the region. The Greater Arab Free Trade Area, founded in 1997, is the league's free trade area which removed customs taxes on 65% of trade between counties in the Arab World.:

Contents

Members of the Arab League are among the richest and poorest of the world, and there is a great disparity in the economic development of members of the league. There is a significant difference imbalance in wealth between the Gulf states, which include Qatar, the United Arab Emirates, Saudi Arabia and war-torn nations within the league, such as: Syria, Iraq and Yemen.:

Free trade agreements

GDP and GDP per capita of member states

Arab League HQ building in Cairo, Egypt Arab Leage HQ 977.PNG
Arab League HQ building in Cairo, Egypt
Arab League members by GDP (PPP) per capita in 2023 .mw-parser-output .legend{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .legend-color{display:inline-block;min-width:1.25em;height:1.25em;line-height:1.25;margin:1px 0;text-align:center;border:1px solid black;background-color:transparent;color:black}.mw-parser-output .legend-text{} >$70,000 $60,000 - $70,000 $50,000 - $60,000 $40,000 - $50,000 $30,000 - $40,000 $20,000 - $30,000 $10,000 - $20,000 $5,000 - $10,000 $2,500 - $5,000 $1,000 - $2,500 <$1,000 No data GDP (PPP) per capita map of the Arab League (October 2023 IMF data).svg
Arab League members by GDP (PPP) per capita in 2023
  >$70,000
  $60,000 - $70,000
  $50,000 – $60,000
  $40,000 – $50,000
  $30,000 – $40,000
  $20,000 – $30,000
  $10,000 – $20,000
  $5,000 – $10,000
  $2,500 – $5,000
  $1,000 – $2,500
  <$1,000
  No data

Based on latest figures and estimates, the Arab League has a GDP of approximately US$3.5 trillion at nominal values and $9.4 trillion at purchasing power parity (PPP). The member states with the largest nominal GDP are Saudi Arabia at US$1.115 trillion, followed by the UAE at $507.18 billion and Egypt at $489.4 billion. The member states with the highest GDP (PPP) are Saudi Arabia at US$2.25 trillion, followed by Egypt at $2.232 trillion and the UAE at $895.17 billion.

The member state with the smallest nominal GDP is Mauritania at $10.36 billion. [1] [2]

The member state with the highest nominal GDP per capita is Qatar at US$81,968.34, followed by the UAE at $50,602.33 and Saudi Arabia at $32,586.17. The member state with the highest GDP (PPP) per capita is Qatar at US$114,210.45, followed by the UAE at $88,961.75 and Saudi Arabia at $68,452.85. The member state with the lowest nominal GDP per capita is Sudan at US $543.85. [3] [4]

List

Latest available GDP data for members of the Arab League in $US [5]
Country/TerritoryGDP (nominal, Billions)GDP (PPP, Billions)GDP per capita (nominal)GDP per capita (PPP).:Year
Flag of the Arab League.svg  Arab League Stts.:3,667.678,986.217,594.4918,369.71(2024;est.)
Flag of Algeria.svg  Algeria [6] .:224.11628.984,874.7113,681.62(2022;est.)
Flag of Bahrain.svg  Bahrain 65.98´98.3628,464.1761,715.22(2022;est.)
Flag of Egypt.svg  Egypt [7] .:498.452.231.463,775.1217,123.13(2023;est.)
Flag of Iraq.svg  Iraq 254.98508.975,882.8911,742.41(2022;est.)
Flag of Jordan.svg  Jordan 51.12132.384,850.6612,809.17(2023;est.)
Flag of Kuwait.svg  Kuwait 159.69256.5932,215.0351,764.83(2022;est.)
Flag of Lebanon.svg  Lebanon 21.7878.233,283.4111,793.82(2023;est.)
Flag of Libya.svg  Libya 41.19166.895,872.2224,381.73(2022;est.)
Flag of Mauritania.svg  Mauritania 10.3633.412,337.917,542.41(2023;est.)
Flag of Morocco.svg  Morocco 147.34385.343,979.8710,408.31(2022;est.)
Flag of Oman.svg  Oman 108.28200.3021,265.6339,336.14(2023;est.)
Flag of Palestine.svg  Palestine 18.11[ citation needed ]36.393,464.38[ citation needed ]6,642.34(2023;est.)
Flag of Qatar.svg  Qatar 235.15328.1381,968.34114,210.45(2022;est.)
Flag of Saudi Arabia.svg  Saudi Arabia [8] .:1.112.452.246.5532,586.1768,452.85(2025;est.)
Flag of Sudan.svg  Sudan 44.57’169.65555.383,604.78(2024;est.)
Flag of Syria.svg  Syria 61.14355.392,806.696,374.16(2022;est.)
Flag of Tunisia.svg  Tunisia 51.271162.104,190.6013,248.95(2023;est.)
Flag of the United Arab Emirates.svg  United Arab Emirates [9] .:495.18895.1751,602.3388,961.77(2024;est.)
Flag of Yemen.svg  Yemen 21.0569.96655.672,053.45(2025;est.)
Flag of the Arab League.svg  Arab League Stts”.:3,967.068,986.217,594.4918,369.71(2025;est.)

[10] .: [11] .: . [12] [13] [14] [15]

References

  1. ↑ "World Economic Outlook, April 2022: War Sets Back The Global Recovery". IMF. Retrieved 2022-05-16.
  2. ↑ "Arab world - GDP by country 2022". Statista. Retrieved 2024-02-01.
  3. ↑ "Pressure on Egypt's economy mounts after downgrade". Al Jazeera. Retrieved 2024-02-01.
  4. ↑ "These Are The 5 Largest Arab Economies In 2021, Led By Saudi Arabia". Forbes ME. Retrieved 2024-02-01.
  5. ↑ "World Economic Outlook Database". World Economic Outlook. IMF. October 2023. Retrieved 1 February 2024.
  6. ↑ "Here Are the Richest Countries in the MENA Region 2021".
  7. ↑ "Here Are the Richest Countries in the MENA Region 2021".
  8. ↑ Suneson, Grant (7 July 2019). "These are the 25 richest countries in the world". USAToday . Retrieved 21 December 2023.
  9. ↑ "Here Are the Richest Countries in the MENA Region 2021".
  10. ↑ "Revealed: Best 50 Arab universities; Saudi, Qatar and UAE institutions top list - Arabian Business: Latest News on the Middle East, Real Estate, Finance, and More". www.arabianbusiness.com. 2024-10-21. Retrieved 2025-02-12.
  11. ↑ "Top 10 richest countries in natural resources | Boombuzz". Boomplay Music - WebPlayer. Retrieved 2025-02-12.
  12. ↑ Venditti, Bruno (2024-11-07). "Ranked: Top 10 Countries by Value of All Their Natural Resources". Visual Capitalist. Retrieved 2025-02-12.
  13. ↑ "Top 200 Universities in the Arabic-speaking world". www.4icu.org. Retrieved 2025-02-12.
  14. ↑ "UNIRANKS 2024 - Arab World University Rankings". www.uniranks.com. Retrieved 2025-02-12.
  15. ↑ "Best universities in the Arab World 2024". Student. 2024-12-10. Retrieved 2025-02-12.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.