萝莉视频

RIYADH: The Gulf Cooperation Council鈥檚 economy grew 1.5 percent year on year in the fourth quarter of 2024, reaching $587.8 billion, driven by a surge in non-oil activity, official data showed. 

According to the GCC Statistical Center, the increase from $579 billion in the fourth quarter of 2023 highlights the region鈥檚 ongoing shift toward diversification, with non-oil sectors contributing 77.9 percent of total output, while oil accounted for 22.1 percent. 

Among non-oil sectors, manufacturing contributed 12.5 percent, wholesale and retail trade 9.9 percent, construction 8.3 percent, and public administration and defense 7.5 percent. Finance and insurance made up 7 percent, real estate 5.7 percent, and other activities a combined 27 percent. 

The region鈥檚 economic shift is driven by national reform plans, including 萝莉视频鈥檚 Vision 2030, the UAE鈥檚 Economic Vision 2030, Oman鈥檚 Vision 2040, and Qatar鈥檚 National Vision 2030, aimed at reducing reliance on oil by expanding sectors like tourism, logistics, finance, and technology, and boosting private sector and foreign investment. 

The statistical center said: 鈥淭his report on the quarterly GDP estimates in the GCC countries is issued based on the data made available by the member states, with a reference of May 2025.鈥� 

At the real GDP level, the GCC economy grew 2.4 percent in the fourth quarter of 2024, with non-oil GDP expanding by 3.7 percent, while oil GDP contracted by 0.9 percent, reflecting voluntary OPEC+ production cuts. 

Among member states, Qatar recorded the highest real GDP growth at 4.5 percent, followed by the UAE at 3.6 percent and 萝莉视频 at 2.8 percent, the report showed. 

The region also maintained stable price levels, with overall inflation averaging 2.1 percent across the bloc during the quarter. Qatar and Oman registered the lowest inflation rates at 1.1 percent and 1.5 percent, respectively, while Bahrain recorded the highest at 3.3 percent. 

In its latest update, the Institute of Chartered Accountants in England and Wales, in collaboration with Oxford Economics, raised its 2025 GCC growth forecast to 4.4 percent, up from a prior estimate of 4 percent, citing stronger oil output and resilient non-oil sector activity. 

The International Monetary Fund projects the GCC economy to expand by 3 percent in 2025, led by 萝莉视频 and the UAE, and supported by sustained infrastructure investment and policy reforms.