MUSCAT, Feb 21 (KUNA) -- The Gulf Cooperation Council Statistical Center on Saturday affirmed that GCC countries continue to achieve real growth in gross domestic product, driven by economic diversification programs and ongoing fiscal reforms across member states.
In a press statement marking the release of its report Cooperation Council in Figures, the center said the GCC system recorded steady economic, developmental, and social expansion during 2024, achieving notable qualitative advances in competitiveness, energy, trade, and digital transformation.
It added that 2024 was characterized by growth led by non-oil sectors, improved quality of life, enhanced digital infrastructure, and stronger regional and international economic presence, in line with macroeconomic indicators cited in the report.
The center noted that total GCC GDP reached USD 2.3 trillion, ranking ninth globally, with an annual growth rate of 2.2 percent, reflecting the resilience and diversification of Gulf economies.
It also highlighted improved global economic indicators, including competitiveness and flexibility, noting that GCC countries ranked first worldwide in proven oil reserves, third in natural gas production, and second in natural gas reserves.
The center further said GCC states ranked tenth globally in total exports and trade exchange, eleventh in imports, and between 15th and 52nd globally on the Human Development Index within the "very high" category. (end) mjb.ahm