RIYADH: The gross domestic product of Gulf Cooperation Council countries rose 3.3 percent at constant prices to $456.3 billion by the end of 2024, according to a new report.
Non‑oil activities accounted for 70.6 percent of the region’s GDP at constant prices in the final quarter, while oil activities contributed 29.4 percent, Oman News Agency reported, citing the Gulf Statistical Center.
“The contribution of non‑oil activities to the GCC GDP at constant prices reached 70.6 percent by the end of the fourth quarter of 2024,” ONA said.
The GDP growth aligns with broader trends across the Gulf, where nominal GDP reached $587.8 billion, growing 1.5 percent year on year, with non-oil sectors contributing 77.9 percent of the total growth.
Qatar recorded the highest real GDP increase at 4.5 percent, followed by the UAE at 3.6 percent, and Saudi Arabia at 2.8 percent, highlighting non-oil expansion as the main driver across the bloc.
