The latest statistics released by the Statistical Center of the Gulf Cooperation Council (GCC) indicate that the Gross Domestic Product (GDP) at current prices for the member countries reached $587.8 billion. This growth was primarily driven by non-oil activities, which accounted for 77.9% of the total GDP, reflecting the depth of economic diversification in the region.
This figure represents a 1.5% increase compared to the $579 billion GDP recorded during the same period in 2023. The contribution of oil-related activities to the overall GDP stood at 22.1% by the end of 2024.
The manufacturing sector led the list with a contribution of 12.5%, followed by wholesale and retail trade at 9.9%, and construction at 8.3%. Additionally, public administration and defense contributed 7.5%, while the financial and insurance activities accounted for 7%. The real estate sector added 5.7%, and other non-oil activities contributed 27% to the total GDP.