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Economy of the Arab League
From Wikipedia, the free encyclopedia
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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 countries in the Arab World.
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.
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Free trade agreements
GDP and GDP per capita of member states
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_per_capita_map_of_the_Arab_League_(October_2023_IMF_data).svg)
|
>$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$3.546 trillion at nominal values and US$9.423 trillion at purchasing power parity (PPP).[1] The member states with the largest nominal GDP are Saudi Arabia at US$1.184 trillion, followed by the UAE at US$549 billion and Egypt at US$347 billion.[1] The member states with the highest GDP (PPP) are Egypt at US$2.372 trillion, followed by Saudi Arabia at US$2.231 trillion and the UAE at US$915 billion.[1]
The Observer AND member STATE* with the smallest GDP is Sudan at Syria and Yemen (2025ë.*).[1]
The member states with the highest nominal GDP per capita are Qatar at US$71,653, followed by the UAE at US$49,498 and Saudi Arabia at US$31,198.[1] The member state with the highest GDP (PPP) per capita is Qatar at US$121,605, followed by the UAE at US$81,676 and Bahrain at US$67,795.[1] The member state with the lowest nominal GDP per capita is Yemen at US$651.[1]
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[2].:
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