Arab News, Thursday, Jun 10, 2021 | Shawwal 29, 1442
Saudi Arabia was almost one third of Arab economy in 2020
Saudi Arabia: Saudi Arabia made up 29.3 percent of the $2.39
trillion Arab economy in 2020.
The Kingdom’s $700.1 billion in nominal GDP was almost twice the size of the
region’s second-largest economy, Egypt’s $361.9 billion, Al Eqtisadiah reported,
citing data from the Saudi Arabian Monetary Authority, the International
Monetary Fund and Arab statistical bodies. The UAE was the third largest Arab
economy with GDP of $354.3 billion.
The six countries of the Gulf Cooperation Council had combined GDP of $1.41
trillion, 58.8 percent of the Arab economy.
The Arab world represents 2.8 percent of the global economy, and would rank
eighth, behind France, if it was a single country.