emirates7 - According to the latest figures from the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat), the nominal Gross Domestic Product (GDP) of GCC nations reached US$587.8 billion by the end of Q4 2024, marking a 1.5% increase from US$579 billion recorded in the same period of 2023.
The report highlighted that non-oil sectors contributed 77.9% to the total nominal GDP, while oil-related activities made up 22.1%.
Among the non-oil sectors, manufacturing accounted for 12.5% of the GDP, followed by wholesale and retail trade at 9.9%, and construction at 8.3%. Public administration and defence contributed 7.5%, finance and insurance 7%, and real estate activities 5.7%. Other non-oil sectors collectively contributed 27%.
The report highlighted that non-oil sectors contributed 77.9% to the total nominal GDP, while oil-related activities made up 22.1%.
Among the non-oil sectors, manufacturing accounted for 12.5% of the GDP, followed by wholesale and retail trade at 9.9%, and construction at 8.3%. Public administration and defence contributed 7.5%, finance and insurance 7%, and real estate activities 5.7%. Other non-oil sectors collectively contributed 27%.