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 counties 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.
Free trade agreements
editGDP and GDP per capita of member states
edit
_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$3.5 trillion at nominal values and $9.4 trillion at purchasing power parity (PPP). The member states with the largest nominal GDP are Saudi Arabia at US$1.07 trillion, followed by the UAE at $509.18 billion and Egypt at $489.4 billion. The member states with the highest GDP (PPP) are Saudi Arabia at US$2.25 trillion, followed by Egypt at $2.232 trillion and the UAE at $895.17 billion.
The member state with the smallest nominal GDP is Mauritania at $10.36 billion.[1][2]
The member state with the highest nominal GDP per capita is Qatar at US$81,968.34, followed by the UAE at $50,602.33 and Saudi Arabia at $32,586.17. The member state with the highest GDP (PPP) per capita is Qatar at US$114,210.45, followed by the UAE at $88,961.77 and Saudi Arabia at $68,452.85. The member state with the lowest nominal GDP per capita is Sudan at US $555.85.[3][4]
List
edit| Country/Territory | GDP (nominal, Billions) | GDP (PPP, Billions) | GDP per capita (nominal) | GDP per capita (PPP).: | Year |
|---|---|---|---|---|---|
 Arab League Stts.:
|
3,667.67 | 8,986.21 | 7,863.49 | 18,369.71 | |
 Algeria[6].:
|
224.11 | 628.98 | 4,874.71 | 13,681.62 | (2023;est.) |
 Bahrain
|
65.98´ | 98.36 | 28,464.17 | 61,715.22 | (2023;est.) |
 Egypt[7].:
|
498.45 | 2,231.46 | 3,775.12 | 17,123.13 | (2023;est.) |
 Iraq
|
254.98 | 508.97 | 5,882.89 | 11,742.41 | (2023;est.) |
 Jordan
|
51.12 | 132.38 | 4,850.66 | 12,809.17 | (2023;est.) |
 Kuwait
|
159.69 | 256.59 | 32,215.03 | 51,764.83 | (2023;est.) |
 Lebanon
|
21.78 | 78.23 | 3,283.41 | 11,793.82 | (2022;est.) |
 Libya
|
41.19 | 166.89 | 5,872.22 | 24,381.73 | (2023;est.) |
 Mauritania
|
10.36 | 33.41 | 2,337.91 | 7,542.41 | (2023;est.) |
 Morocco
|
147.34 | 385.34 | 3,979.87 | 10,408.31 | (2023;est.) |
 Oman
|
108.28 | 200.30 | 21,265.63 | 39,336.14 | (2023;est.) |
 Palestine
|
18.11[citation needed] | 36.39 | 3,464.38[citation needed] | 6,642.34 | (2021;est.) |
 Qatar
|
235.15 | 328.13 | 81,968.34 | 114,210.45 | (2023;est.) |
 Saudi Arabia[8].:
|
1,112.45 | 2,246.55 | 32,586.17 | 68,452.85 | (2025;est.) |
 Sudan
|
44.57’ | 169.65 | 555.38 | 3,604.78 | (2023;est.) |
 Syria
|
61.143 | 55.39 | 2,806.69 | 6,374.16 | (2022;est.) |
 Tunisia
|
51.271 | 162.10 | 4,190.60 | 13,248.95 | (2023;est.) |
 United Arab Emirates[9].::
|
495.18 | 895.17 | 51,602.33 | 88,961.77 | (2023;est.) |
 Yemen
|
21.05 | 69.96 | 655.67 | 2,053.45 | (2023;est.) |
| Arab League Stts”.:
|
3,967.06 | 8,986.21 | 7,863.49 | 18,369.71 |
References
edit- ^ "World Economic Outlook, April 2022: War Sets Back The Global Recovery". IMF. Retrieved 2022-05-16.
- ^ "Arab world - GDP by country 2022". Statista. Retrieved 2024-02-01.
- ^ "Pressure on Egypt's economy mounts after downgrade". Al Jazeera. Retrieved 2024-02-01.
- ^ "These Are The 5 Largest Arab Economies In 2021, Led By Saudi Arabia". Forbes ME. Retrieved 2024-02-01.
- ^ "World Economic Outlook Database". World Economic Outlook. IMF. October 2023. Retrieved 1 February 2024.
- ^ "Here Are the Richest Countries in the MENA Region 2021".
- ^ "Here Are the Richest Countries in the MENA Region 2021".
- ^ Suneson, Grant (7 July 2019). "These are the 25 richest countries in the world". USAToday. Retrieved 21 December 2023.
- ^ "Here Are the Richest Countries in the MENA Region 2021".
- ^ https://www.middleeasteye.net/news/yemens-saleh-really-worth-4-billion
- ^ https://www.boomplay.com/buzz/3538810
- ^ https://www.visualcapitalist.com/ranked-top-10-countries-by-value-of-all-their-natural-resources/