MUSCAT – This was revealed in the latest data released by the Statistical Center for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat).
The data also indicated that the contribution of non-oil activities to the GCC’s nominal GDP reached 77.9 percent by the end of the fourth quarter of 2024, compared to 22.1 percent from oil activities.
The manufacturing sector contributed 12.5 percent to the GDP, while wholesale and retail trade accounted for 9.9 percent. The contribution of the construction sector reached 8.3 percent, while public administration and defence logged 7.5 percent, finance and insurance 7 percent, and real estate activities 5.7 percent. Meanwhile, other non-oil activities contributed 27 percent.
Compared to the third quarter of 2024, the nominal GDP of the GCC countries recorded a growth of 1.3 percent in the fourth quarter of 2024, reaching $587.8 billion, up from $580.1 billion in the third quarter.
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