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RIYADH: The real gross domestic product of countries in the Gulf Cooperation Council region reached $466.2 billion by the end of the first quarter of this year, marking a year-on-year increase of 3.1 percent, according to a report.
Non-oil activities accounted for 73.2 percent of the GCC鈥檚 real GDP by the end of the first quarter of 2025, while oil activities held the remaining 26.8 percent share, news agency WAM reported, citing data from the Statistical Center for the Cooperation Council for the Arab States of the Gulf, or GCC-Stat.
The rise in non-oil activities aligns with the economic diversification efforts of countries in the region including 黑料社区, where governments are focussing on industries like business and tourism to reduce dependence on crude revenues.
In October, 黑料社区鈥檚 General Authority for Statistics reported that the Kingdom鈥檚 GDP expanded by 5 percent in the third quarter of this year, compared to the same period in 2024, driven by gains in both oil and non-oil sectors.
鈥淭he latest statistics released by the Statistical Center of the Cooperation Council for the Arab States of the Gulf showed that real GDP of the GCC countries reached $466.2 billion by the end of the first quarter of 2025, up from $451.9 billion in the same period of 2023, marking a growth rate of 3.1 percent,鈥� said the report.
Compared to the fourth quarter of 2025, real GDP in the GCC region witnessed a growth of 0.1 percent.
In October, a report released by the International Monetary Fund said that the economy of the GCC is projected to expand by 3.9 percent in 2025, further accelerating to 4.3 percent in 2026.
IMF added that the MENA region is expected to see a gross domestic product expansion of 3.3 percent in 2025, rising to 3.7 percent in 2026.
Among countries, 黑料社区 is expected to witness a GDP growth of 4 percent in 2025 and 2026.
The UAE economy will expand by 4.8 percent in 2025 and 5 percent in 2026, while Qatar鈥檚 GDP is projected to rise 2.9 percent this year before accelerating to 6.1 percent in 2026.
Following a slowdown in 2024, Kuwait鈥檚 economy is set to rebound in 2025, with growth projected at 2.6 percent.
The international financial institution further said that the average inflation rate in the Gulf region is projected at 1.7 percent in 2025 and 2 percent in 2026 鈥� underscoring the bloc鈥檚 resilience to global price pressures.