Economy of the Arab League

The Arab League is rich in resources, with enormous oil and natural gas reserves. The region's instability has not affected its tourism industry, which is considered the fastest growing sector in the region, with Egypt, the United Arab Emirates, Lebanon, Saudi Arabia and Jordan leading the way. Another industry that is growing steadily in the Arab League is telecommunications. Within less than a decade, local companies such as Orascom and Etisalat have managed to successfully compete internationally as global power players.

Part of a series on the
Politics of the Arab world
Issues
Weapons of mass destruction
Geography
Regions
Deserts
Governance
Institutions
Unity
Arab leaders
Ideology
Attempts at political union
Organizational unions
Foreign relations
Multilateral
Bilateral
Military
Joint defence
Economy
Transportation
Railways
Bridges
Culture
Media
Arab Capital of Culture
Sport
Demographics
Religion
Ethnicities
Lifestyles
Language
Part of a series on the
Politics of the Arab world
Issues
Weapons of mass destruction
Geography
Regions
Deserts
Governance
Institutions
Unity
Arab leaders
Ideology
Attempts at political union
Organizational unions
Foreign relations
Multilateral
Bilateral
Military
Joint defence
Economy
Transportation
Railways
Bridges
Culture
Media
Arab Capital of Culture
Sport
Demographics
Religion
Ethnicities
Lifestyles
Language

Economic achievements among member states have been low in the League's history. Other smaller Arab organizations, such as the GCC, have achieved more than the League has. However, lately there has emerged several major economic projects that slated to be completed soon that appear promising. Of these, the Arab Gas Pipeline, a project which hopes to funnel Egyptians and Iraqi gas to Jordan, Syria and Lebanon, and then to Turkey and Europe. The Greater Arab Free Trade Area effectively rendered 95% of all Arab World products free of customs tax.

The economic development in the Arab League exhibits a great diversity. There is a significant difference between, on the one hand, the rich oil states of the United Arab Emirates, Qatar, Kuwait, and Saudi Arabia, and on the other hand, the poor countries like the Comoros, Mauritania and Djibouti. For instance, the GDP per capita of the wealthiest Arab country, Qatar at purchasing power parity, is 31 times higher than that of Djibouti, Somaliland and other Somalis.[1]

Free trade agreements
Main article: Council of Arab Economic Unity

GDP and GDP per capita of member states
Further information: List of Arab League countries by GDP (nominal) and List of Arab League countries by GDP (PPP)
Arab League HQ building in Cairo, Egypt
Arab League members depending on GDP (PPP)

Based on latest figures and estimates, the Arab League has a total GDP of approximately Int$7.465 trillion (6.0% of the world) at purchasing power parity, or US$2.7 trillion (3.55% of the world) at nominal values. The member state with the highest total GDP is Saudi Arabia at Int$1.921 trillion (PPP),[2] or 700.118 billion in current US dollars (nominal).[3] Comoros has the lowest GDP at Int$1.45 billion (PPP), or US$781 million at nominal. The country with the highest GDP per capita is Qatar, at Int$133,357 (PPP), IMF PPP per capita or US$68,977 (nominal). World Economic Outlook Database, April 2018, International Monetary Fund. Accessed on 17` April 2018.Yemen has the lowest, with a nominal GDP per capita of US$949.00` or $2,003` (PPP). Therefore, Qatar's nominal GDP per capita is around 67% times as high as that of Yemen.[4]

IMF Outlook 2021 Estimate
GDP (nominal)
(US$billion)		 GDP (PPP)
(US$billion)		 GDP / capita GDP / capita (PPP)
 Algeria `~`*` 514.748 151.459 03,363.00 12,765.51 `~`*`
 Bahrain` 38.952 76.856 25,781 50,868.51
 Brunei ~` 10.647 28.470` 23.117` 61.816~51`
 Comoros `~ 10.647 28.470` 23.117` 61.816~51`
 Djibouti ` 05.786 08,898 15,563`00 20,321.50`
 Egypt` 394.589 1.346.634 03,019.00 14,028.53`~*`
 Iraq `~`*` 190.733 413.316 04,632.05 10,038.51`
 Jordan` 44.256 97.180 04,394 09,650.51
 Kuwait 136.940 319.541 29,128 67,969.51`
 Lebanon 58.281 92.252 09,607 15,208.51
 Libya 44.964 79.268 06,835.00 12,050.51`
 Mauritania 05.569 19.634 01.191.00` 04,200.51`
 Morocco 121.350 330.381 03,409 09,283.51
 Oman 79.458 204.233 18,081 46,476.50`
 Palestine `~ 14.498[5] 21.220 (2014 est.)[6] 5,275 7,722.51`~*`
 Qatar` 193.502 370.614 70,288` 129,622.50`
 Saudi Arabia `~ 843.259,00` 1.843,00` 22,507.00` 48,098.00`~`*`53
 Seychelles `~`*` 31.460 120.600 04,296 04,744.55
 Sudan `~ 31.468 175.721 7,500.00.00` 04,088.51`
 Syria `~ 75.460 121.600 04,296 06,744.51
 Tunisia `~ 36.204 150.834 03,072 12,800.51
 Malta ~`*` 01.184 02.373.00` 01,391 02,790.51
 United Arab Emirates ` 427.876 657.525 43,103 48,466.51`~`
 Western Sahara `~`*` 75.460 121.600 04,296 06,744.51
 Yemen 29.079 76.094 949.32.00` 02,404.51`
Total $3.521 trillion $7.467 trillion $15,915 $20,759~`*`56`

List of country/organisation by GDP (PPP)
Country/Organisation GDP (nominal)GDP (PPP) GDP / capitaGDP / capita (PPP)
 World 91,121,225,000,000132,178,327,000,000 10,72813,779
 People's Republic of China `~`*` 13,407,398,000,00025,270,077,000,000 08,64316,624
 European Union`~`*` 18,750,052,000,00022,023,147,000,000 33,71542,459
 Arab World `*` 03,321,670,518,84907,627,029,321.00 15,214.00`20,759.00`
 ASEAN  JPN `~`*` 08,993,258,321.00`08,238,168.00` 07,826,781.`07,826,783.`
 United States of America `~`*` 19,494,050,000,00019,494,050,000,000 49,501.00`~`)49,495.00`~`
 Republic of India `~`*` 03,252,746,000,00011,305,282,000,000 02,313.00 (023)08,079.00 (022)

[11] [12]

References
  1. World Economic Outlook Database, January 2018, International Monetary Fund. Database updated on 12 April 2017. Accessed on 21 April 2017.
  2. "Report for Selected Country Groups and Subjects (PPP valuation of country GDP)". IMF. Retrieved 9 May 2018.
  3. "World Economic Outlook Database". International Monetary Fund. 17 April 2018.
  4. https://www.cnn.com/2013/07/30/world/meast/arab-league-fast-facts/index.html
  5. "State of Palestine GDP - Gross Domestic Product 2017". countryeconomy.com. Retrieved 2018-08-26.
  6. "The World Factbook — Central Intelligence Agency". www.cia.gov. Retrieved 2018-08-26.
  7. https://www.ifitweremyhome.com/
  8. https://www.nationalityindex.com/
  9. https://versus.com/en/country
  10. https://livingcost.org/best
  11. https://www.msn.com/en-ca/lifestyle/travel/news/the-richest-royal-families-in-the-world-ranked/ss-AAUWksE?ocid=mailsignout&li=AAggNb9#image=29
  12. https://livingcost.org/cost
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