GCC GDP hits $456 billion, led by non-oil sectors

MUSCAT: The combined GDP at constant prices of the Gulf Cooperation Council (GCC) countries rose by 3.3 per cent to $456.3 billion by the end of Q4 2024, up from $442.3 billion during the same period in 2023.

According to the latest figures released by the Statistical Center for the Cooperation Council for the Arab States of the Gulf (GCC), non-oil sectors contributed 70.6 per cent of total GDP at constant prices in Q4 2024. In contrast, oil-related activities made up 29.4 per cent.

The GCC's GDP at constant prices also recorded a quarterly growth of 1 per cent, rising from $452.2 billion in Q3 to $456.3 billion in Q4 of 2024. — ONA