Latest news with #StatisticalCentrefortheCooperationCouncilfortheArab
Gulf Today
3 days ago
- Business
- Gulf Today
GCC-Stat: GCC countries record $587.8 billion in nominal GDP by end of Q4 2024
The latest data released by the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf ('GCC-Stat') revealed that the nominal Gross Domestic Product (GDP) of the Gulf Cooperation Council (GCC) countries reached US$587.8 billion by the end of the fourth quarter of 2024, up from US$579 billion at the end of the fourth quarter of 2023, reflecting a growth rate of 1.5%. The data indicated that the contribution of non-oil activities to the GCC's nominal GDP reached 77.9% by the end of the fourth quarter of 2024, compared to 22.1% from oil activities. The manufacturing sector contributed 12.5% to the GDP, while wholesale and retail trade accounted for 9.9%. The contribution of the construction sector reached 8.3%, while public administration and defence logged 7.5%, finance and insurance 7%, and real estate activities 5.7%. Meanwhile, other non-oil activities contributed 27%. WAM
Al Etihad
12-07-2025
- Business
- Al Etihad
GCC population hit 61.2 million by 2024 end
12 July 2025 12:15 MUSCAT (WAM)The latest data released by the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat) revealed that the population of the GCC countries reached 61.2 million by the end of 2024, an increase of more than 2.1 million people compared to 2023 figures, representing a growth rate of 36 centre's statistics, issued on the occasion of World Population Day, observed annually on July 11, indicated a swift recovery in population numbers across GCC countries from the impact of the COVID-19 2021, the population has increased by around 7.6 million people, representing a growth rate of 14.2 percent. This reflects the rapid resumption of population growth following the slowdown experienced by some countries during the data also showed that the population of the GCC countries constitutes 0.7 percent of the world's total number of males in the GCC countries reached approximately 38.5 million, accounting for 62.8 percent of the total population, while the number of females stood at around 22.7 million, representing 37.2 percent of the total population. The gender ratio in the GCC countries reached 169 males for every 100 females in 2024, compared to a global ratio of 101 males for every 100 females in the same year.
Al Etihad
06-07-2025
- Climate
- Al Etihad
39.6% surge in rainfall across GCC countries, with average temperatures reaching 48.2°C: Report
6 July 2025 15:18 MUSCAT (WAM) The latest data released by the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat) indicated that the rainfall rates in the GCC countries increased by 39.6% in 2023, reaching 97.2 mm, compared to 69.7 mm in 2022. However, they remained below the long-term average of 109.6 mm recorded for the period from 1998 to data showed that the number of dams collecting surface water from rainfall in GCC countries increased in 2023 to 861 dams, compared to 854 dams in the other hand, the data revealed that temperatures in 2023 recorded their highest average value at 48.2°C, compared to 46.8°C in 2022, with the minimum averages rising significantly. The average minimum temperature reached 9.5°C in 2023, compared to 5°C in GCC countries enjoy abundant solar resources, with average daily solar radiation ranging from 5.6 to 6.4 W/m2 between 1999 and 2018. This highlights the potential of solar energy as a clean, renewable energy source for electricity generation, especially during the hot summer this context, electricity production from solar energy in the GCC countries witnessed a remarkable leap from 0.13 thousand gigawatt-hours in 2013 to 10.8 thousand gigawatt-hours in 2022, with an annual growth rate of 81.1%. The design capacity of solar plants also increased at an average annual rate of 94.6% over the past number of climate monitoring stations in the GCC increased to 297 stations in 2023, compared to 161 stations in 2013. All GCC countries also have national strategies for disaster risk reduction, in line with the Sendai Framework for Disaster Risk Reduction 2015-2030.
Al Etihad
30-06-2025
- Business
- Al Etihad
GCC inflation rate logs 1.7% in 2024
30 June 2025 12:41 MUSCAT (WAM) The latest data released by the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat) indicated that the average inflation rate in the GCC countries stood at 1.7 percent in 2024, compared to 2.2 percent in data showed a noticeable variation in the rates of change across the main groups, with the housing group recording the highest increase at 5.7 percent, followed by restaurants and hotels and culture and entertainment, both at 1.8 percent. This was followed by education at 1.7 percent, food and beverages at 1.5 percent, and goods and services at 1.1 the health group recorded a slight decline of 0.2 percent, followed by clothing and footwear at 0.7 percent, communications at 1.0 percent, tobacco at 1.1 percent, and furniture at 1.6 percent, while the transport group registered the largest drop at 2.0 to recent data, price levels in the GCC experienced moderate fluctuations between 2020 and 2024. The region's inflation rate stood at 1.7 percent in 2020, rising to 2.4 percent in 2021 and reaching its peak at 3.1 percent in 2022. It then eased to 2.2 percent in 2023, continuing its downward trajectory to settle at 1.7 percent in figures reflect the success of the economic policies adopted by GCC countries in containing inflationary pressures, particularly following the notable increase in also indicate a state of relative stability in the region compared to the fluctuations seen in global 2024, the GCC inflation rate remained notably lower than that of several major trading partners, underscoring the region's economic resilience. Inflation stood at 4.4 percent in Brazil, 3.8 percent in India, 3.3 percent in the United Kingdom, 2.9 percent in the United States, and 2.7 percent in Japan. Meanwhile, the Republic of Korea and Germany reported rates of 2.3 percent, with France recording 2.0 percent. The inflation rate in both China and Italy was lower than the GCC rate, recording 0.2 percent and 1.0 percent, respectively, while the rate in the European Union stood at 2.6 percent.
Al Etihad
21-06-2025
- Business
- Al Etihad
GCC visitors spending expected to reach $223.7 billion in 2034: GCC-Stat
21 June 2025 16:04 MUSCAT (WAM) The latest data released by the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat) revealed that the expected spending by visitors to GCC countries is projected to reach $223.7 billion in 2034, while the expected contribution of incoming visitor spending to total exports will reach 13.4%.The Centre also indicated that GCC countries are achieving steady progress in many tourism-related data demonstrate that total international visitor spending in GCC countries amounted to $135.5 billion in 2023, with a 28.9% increase compared to the figures recorded in GCC countries ranked first in the Middle East and North Africa region's 2024 Safety and Security Index. All GCC countries scored above the regional average of 5.86 points, taking into consideration that the index ranges from 1 to 7 points. They also ranked among the top 6 countries in terms of passport power in the Arab region.
