GCC GDP Reaches $2.4 Trillion as Non-Oil Sector Contribution Exceeds 78%

The combined Gross Domestic Product (GDP) of GCC countries reached approximately $2.4 trillion, strengthening the bloc’s position among the world’s influential economic powers. The milestone comes as the non-oil sector contributed more than 78 percent of GDP, reflecting the continued success of economic diversification efforts across Gulf nations.

According to a report issued by the Statistical Centre for the Cooperation Council for the Arab States of the Gulf during the GCC’s 45th Founding Anniversary, the non-oil sector recorded 5.3 percent growth in 2025, highlighting accelerating expansion beyond hydrocarbons.

GCC Banking Sector Strengthens Financial Stability

The GCC’s financial sector continued to show strong momentum and resilience.

Commercial bank assets climbed to approximately $3.9 trillion, recording growth of 11.9 percent between 2024 and 2025. Bank deposits also reached $2.3 trillion, increasing by 10.6 percent, indicating strong liquidity levels and sustained confidence in Gulf financial institutions.

The report also highlighted the rising global investment influence of GCC countries. Gulf sovereign wealth funds expanded to nearly $5 trillion, representing 30.3 percent of total sovereign wealth funds worldwide, reinforcing the region’s growing strategic role in international markets.

GCC Trade and Energy Sectors Maintain Global Influence

Trade activity across GCC countries remained robust, with total trade exchange volumes reaching approximately $1.6 trillion, reflecting 7.4 percent growth compared with 2023.

Meanwhile, Gulf commodity exports reached nearly $849.6 billion, supporting the region’s strong position in global trade and international supply chains.

The GCC also retained its critical role in the global energy market. Oil production reached 16.6 million barrels per day, accounting for approximately 22.2 percent of global crude oil production.

GCC Improves Global Competitiveness Rankings

Global competitiveness indicators for 2025 showed notable progress for GCC countries.

The region ranked:

  • 15th globally in the overall competitiveness index
  • 8th globally in tax policy performance
  • 11th globally in public finance indicators

The GCC also achieved strong performance across labor markets, infrastructure development, business efficiency and government effectiveness.

Gulf Economic Integration Continues Expanding

Regional economic integration across Gulf nations recorded significant growth.

The Gulf Common Market saw intra-regional trade reach approximately $146 billion, representing an increase of 85.2 percent compared with 2012.

In addition, total capital of joint-stock companies rose to $549 billion, marking exceptional growth of 237.6 percent since 2007.

Social Mobility and Tourism Growth Rise Across GCC Nations

The report highlighted increasing social and economic connectivity among Gulf populations.

More than 41.4 million Gulf citizens moved between member states, while 43,200 students pursued education in public institutions across neighboring GCC countries.

Shared healthcare initiatives also expanded, with nearly 488,900 Gulf citizens benefiting from regional healthcare services, reflecting deeper integration among member nations.

The tourism sector continued to strengthen as GCC tourism revenues reached approximately $132.3 billion, demonstrating growing international appeal and expanding tourism capacity across Gulf destinations.