Statistical Centre affirms achievements of GCC

Since its foundation, the Gulf Cooperation Council (GCC) has made a major contribution to strengthening economic and development ties between its six member states.

As the GCC celebrates the 44th anniversary of its establishment, statistics show that it has become a major economic force on the global stage.

The Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat), based in Muscat, is an important and tangible result of GCC cooperation.

Intisar Abdullah Al Wahaibi, Director General of the GCC Statistical Centre (GCC-Stat), stated that the Centre provides accurate and standardised data and indicators that support decision-making, inform evidence-based policy formulation, and contribute to achieving the sustainable development visions of GCC member states.

In a statement to the Oman News Agency, she added that the GCC has made major strides as a bloc raising its position among global economic groupings.

The GCC economy now ranks 11th globally with a combined GDP of USD 2.1 trillion (tn). The total foreign reserve assets of GCC countries amount to USD 748 billion, while the combined assets of their sovereign wealth funds are estimated at USD 4.9 tn, representing 37 percent of the total assets of the world’s top 100 sovereign wealth funds.

The Director General noted that the GCC states account for 30 percent of the Middle East’s renewable electricity generation capacity as they transition to clean energy. Gulf financial markets represent 4.3 percent of total global stock market capitalisation, placing them 7th worldwide in terms of market value.

She also explained that artificial intelligence is expected to contribute 34 percent of the GCC’s GDP by 2030, with five GCC countries among the world’s top 50 economies in terms of government readiness for AI – significantly outperforming the global average.

Intisar Abdullah Al Wahaibi said that GCC-Stat will continue to develop the GCC's statistical infrastructure, working  to build capacity, while enhancing transparency, improving access to information, supporting joint Gulf action, and empowering policymakers to shape a prosperous future.

This is an unofficial English version of an Arabic report. To view the official Arabic text, click here.