Kuwait city: 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. According to Kuwait News Agency, the center released a report titled "Cooperation Council in Figures," highlighting that the GCC system recorded steady economic, developmental, and social expansion during 2024. The report pointed out notable advances in competitiveness, energy, trade, and digital transformation. The press statement emphasized that growth in 2024 was primarily led by non-oil sectors, which contributed to improved quality of life, enhanced digital infrastructure, and a stronger regional and international economic presence. These developments align with the macroeconomic indicators presented in the report. The center revealed that the total GDP of the GCC reached USD 2.3 trillion, ranking ninth globally, with an annual growth rate of 2.2 perce nt. This growth reflects the resilience and diversification of Gulf economies. Additionally, the report highlighted improved global economic indicators, including competitiveness and flexibility. GCC countries were noted for ranking first worldwide in proven oil reserves, third in natural gas production, and second in natural gas reserves. The center also mentioned that 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.
