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Arab Times
27-07-2025
- Business
- Arab Times
GCC GDP reaches $587.8 billion by end of 2024, up 1.5%
MUSCAT, July 27: The gross domestic product (GDP) of the Gulf Cooperation Council (GCC) countries at current prices reached USD 587.8 billion by the end of the fourth quarter of 2024, marking a 1.5 percent growth compared to the same period in 2023, according to data released on Sunday by the Statistical Center for the Cooperation Council for the Arab States of the Gulf. The increase represents a rise of USD 8.8 billion from the USD 579 billion recorded at the end of the fourth quarter of 2023. The center's report highlighted that non-oil activities continued to dominate the region's economic output, contributing 77.9 percent to the total GDP at current prices, while oil-related activities accounted for 22.1 percent. Among the non-oil sectors, manufacturing industries contributed 12.5 percent, wholesale and retail trade 9.9 percent, construction 8.3 percent, public administration and defense 7.5 percent, finance and insurance 7 percent, and real estate activities 5.7 percent. Other non-oil activities collectively accounted for 27 percent of the GDP. Compared to the third quarter of 2024, the GCC's GDP grew by 1.3 percent, rising from USD 580.1 billion recorded in Q3. The Statistical Center, headquartered in the Sultanate of Oman, serves as the official authority for data, statistics, and information relevant to GCC countries. It also works to support and coordinate with national statistical centers and planning bodies across the member states.
Kuwait Times
13-07-2025
- Business
- Kuwait Times
GCC population to reach 61.2 million
GCC population to reach 61.2 million Sharp growth reflects post-pandemic recovery KUWAIT: The population of Gulf Cooperation Council (GCC) countries is projected to reach 61.2 million by the end of the year, according to figures released Saturday by the Statistical Center for the Cooperation Council for the Arab Countries of the Gulf. The data, issued in conjunction with World Population Day, marks a notable increase of over 2.1 million people compared to 2023—a 3.6 percent rise—indicating a robust recovery from the demographic slowdown experienced during the COVID-19 pandemic. The report highlighted that the population has grown by approximately 7.6 million since 2021, reflecting a strong rebound and resumption of growth across member states. The center revealed that the male population across the GCC countries currently stands at around 38.5 million, making up 62.8 percent of the total population. The female population is estimated at approximately 22.7 million, or 37.2 percent. This results in a gender ratio of 169 males for every 100 females—significantly higher than the global average of 101 males per 100 females. According to the center, the population of GCC countries represents about 0.7 percent of the total global population. The GCC Statistical Center, headquartered in Oman, serves as the official regional authority responsible for compiling and disseminating statistical data for all member states. — KUNA
