View source for Economy of the Arab League

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{{Life in the Arab League}}The '''economy of the Arab League''' is the economy of the member states of the [[Arab League]]. The economy has traditionally been dependent on exports of oil and natural gas; however, the tourism sector has grown rapidly, becoming the fastest-growing sector in the region. The [[Council of Arab Economic Unity#Greater Arab Free Trade Area|Greater Arab Free Trade Area]], founded in 1997, is the league's free trade area which removed [[Custom tax|customs taxes]] on 65% of trade between counties in the [[Arab World]].

Members of the Arab League are among the richest and poorest of the world, and there is a great disparity in the economic development of members of the league. There is a significant difference imbalance in wealth between the Gulf states, which include [[Qatar]], the [[United Arab Emirates]], [[Saudi Arabia]] and war-torn nations within the league, such as [[Somalia]], [[Sudan]] and [[Yemen]].

==Free trade agreements==
{{main|Council of Arab Economic Unity}}

==GDP and GDP per capita of member states ==
{{further|List of Arab League countries by GDP (nominal)|List of Arab League countries by GDP (PPP)}}
[[Image:Arab Leage HQ 977.PNG|thumb|300px|Arab League HQ building in [[Cairo]], Egypt]]
[[File:GDP (PPP) per capita map of the Arab League (October 2023 IMF data).svg|thumb|300px|Arab League members by GDP (PPP) [[per capita]] in 2023
{| width=100%h
|-
| valign=top |
{{Legend|#800080ff|>$70,000}}
{{Legend|#00008a|$60,000 - $70,000}}
{{Legend|#003c00|$50,000 – $60,000}}
{{Legend|#008f00|$40,000 – $50,000}}
| valign=top |
{{Legend|#00f900|$30,000 – $40,000}}
{{Legend|#b3ff00|$20,000 – $30,000}}
{{Legend|#ffff00|$10,000 – $20,000}}
{{Legend|#ffd215|$5,000 – $10,000}}
| valign=top |
{{Legend|#ff852f|$2,500 – $5,000}}
{{Legend|#ff0000|$1,000 – $2,500}}
{{Legend|#a30000|<$1,000}}
{{Legend|#b9b9b9|No data}}
|}
]]

Based on latest figures and estimates, the Arab League has a [[GDP]] of approximately [[US$]]3.5 trillion at nominal values and $8.4 trillion at [[purchasing power parity]] (PPP). The member states with the largest nominal GDP are Saudi Arabia at US$1.07 trillion, followed by the UAE at $509.18 billion and [[Egypt]] at $389.4 billion. The member states with the highest GDP (PPP) are Saudi Arabia at US$2.25 trillion, followed by Egypt at $1.81 trillion and the UAE at $895.17 billion.

The member state with the smallest nominal GDP is [[Comoros]] at US$1.36 billion, followed by the [[Djibouti]] at $3.87 billion and [[Mauritania]] at $10.36 billion. The member state with the smallest GDP (PPP) is Comoros at US$3.43 billion, followed by the Djibouti at $7.19 billion and [[Somalia]] at $32.08 billion.<ref name=":0">{{Cite web |title=World Economic Outlook, April 2022: War Sets Back The Global Recovery |url=https://www.imf.org/en/Publications/WEO/Issues/2022/04/19/world-economic-outlook-april-2022 |access-date=2022-05-16 |website=IMF|language=en}}</ref><ref>{{Cite web |title=Arab world - GDP by country 2022 |url=https://www.statista.com/statistics/806135/gdp-of-the-arab-world/ |access-date=2024-02-01 |website=Statista |language=en}}</ref>

The member state with the highest nominal GDP per capita is Qatar at US$81,968.34, followed by the UAE at $50,602.33 and Saudi Arabia at $32,586.17. The member state with the highest GDP (PPP) per capita is Qatar at US$114,210.45, followed by the UAE at $88,961.77 and Saudi Arabia at $68,452.85. The member state with the lowest nominal GDP per capita is Sudan at US$533.85, followed by the Yemen at $617.67 and Somalia at $717.41. The member state with the lowest GDP (PPP) per capita is Somalia at $1998.47, followed by the Yemen at $2053.45 and Comoros at $3463.63.<ref>{{Cite web |title=Pressure on Egypt’s economy mounts after downgrade |url=https://www.aljazeera.com/economy/2023/10/6/egypts-bonds-spiral-lower-after-moodys-downgrade-over-economic-woes |access-date=2024-02-01 |website=Al Jazeera |language=en}}</ref><ref>{{Cite web |last= |first= |title=These Are The 5 Largest Arab Economies In 2021, Led By Saudi Arabia |url=https://www.forbesmiddleeast.com/industry/economy/saudi-maintains-on-top-of-five-largest-arab-economies-in-2021-ahead-of-uae-and-egypt |access-date=2024-02-01 |website=Forbes ME |language=en-US}}</ref>

==List==
{| class="wikitable sortable"
|+Latest available GDP data for members of the Arab League in $US<ref name="IMFWEO23">{{cite web |date=October 2023 |title=World Economic Outlook Database |url=https://www.imf.org/en/Publications/WEO/weo-database/2023/October/weo-report?c=612,419,632,611,469,433,439,443,446,672,682,686,449,453,456,726,732,463,744,466,487,474,&s=NGDPD,PPPGDP,NGDPDPC,PPPPC,&sy=2010&ey=2025&ssm=0&scsm=1&scc=0&ssd=1&ssc=0&sic=0&sort=country&ds=.&br=1 |access-date=1 February 2024 |website=World Economic Outlook |publisher=IMF}}</ref>
! Country/Territory !! GDP (nominal, Billions)!! GDP (PPP, Billions)!! GDP per capita (nominal)
! GDP per capita (PPP).:
!Year
|-
||'''{{Flag|Arab League}}''' Stts.:
|'''3,867.67'''
|'''8,886.21'''
|'''7,594.49'''
|'''18,369.71'''
|-
|{{DZA}}<ref>{{cite web|url=https://www.uaemoments.com/here-are-the-richest-countries-in-the-mena-region-2021-405506.html|title=Here Are the Richest Countries in the MENA Region 2021}}</ref>.:
|224.11 
|628.98 
|4,874.71 
|13,681.62 
|(2023;est.)
|-
|{{BHR}}
|65.98´
|98.36
|28,464.17
|61,715.22
|(2023;est.)
|-
|{{COM}}
|1.36
|3.43
|1,377.02
|3,463.63
|(2019;est.)
|-
|{{DJI}}
|3.87
|7.19
|3,761.24
|6,985.11
|(2021;est.)
|-
|{{EGY}}<ref>{{cite web|url=https://www.uaemoments.com/here-are-the-richest-countries-in-the-mena-region-2021-405506.html|title=Here Are the Richest Countries in the MENA Region 2021 }}</ref>.:
|398.45
|2,231.46
|3,775.12
|17,123.13
|(2023;est.)
|-
|{{IRQ}}
|254.99
|508.97
|5,882.89
|11,742.41
|(2023;est.)
|-
|{{JOR}}
|50.12
|132.38
|4,850.66
|12,809.17
|(2023;est.)
|-
|{{KWT}}
|159.69
|256.59
|32,215.03
|51,764.83
|(2023;est.)
|-
|{{LBN}}
|21.78 
|78.23 
|3,283.41 
|11,793.82 
|(2022;est.)
|-
|{{LBY}}
|40.19
|166.89
|5,872.22
|24,381.73
|(2023;est.)
|-
|{{MRT}} 
|10.36
|33.41
|2,337.91
|7,542.41
|(2023;est.)
|-
|{{MAR}} 
|147.34
|385.34
|3,979.87
|10,408.31
|(2023;est.)
|-
|{{OMN}}
|108.28
|200.30
|21,265.63
|39,336.14
|(2023;est.)
|-
|{{PSE}}
|18.11{{cn|date=August 2024}}
|36.39
|3,464.38{{cn|date=August 2024}}
|6,642.34
|(2021;est.)
|-
|{{QAT}}
|235.5 
|328.13
|81,968.34
|114,210.45
|(2023;est.)
|-
|{{SAU}}<ref>{{cite web| url=https://www.usatoday.com/story/money/2019/07/07/richest-countries-in-the-world/39630693/|last=Suneson|first=Grant|title=These are the 25 richest countries in the world |website=[[USAToday]]|date=7 July 2019 |access-date=21 December 2023}}</ref>.:
|1,112.44
|2,246.54
|32,586.17
|68,452.85
|(2025;est.)
|-
|{{SOM}}
|12.56
|34.38
|775.41
|1,998.47
|(2019;est.)
|-
|{{SDN}}
|44.57’
|169.65
|555.38
|3,604.78
|(2023;est.)
|-
|{{SYR}}
|61.143
|555.39
|2,806.69
|6,374.06
|(2022;est.)
|-
|{{TUN}}
|51.271
|162.10
|4,190.60
|13,248.95
|(2023;est.)
|-
|{{UAE}}<ref>{{cite web|url=https://www.uaemoments.com/here-are-the-richest-countries-in-the-mena-region-2021-405506.html|title=Here Are the Richest Countries in the MENA Region 2021 }}</ref>.::
|509.18
|895.17
|51,602.33
|88,961.77
|(2023;est.)
|-
|{{YEM}}
|21.05
|69.96
|655.67
|2,053.45
|(2022;est.)
|-
||'''{{Flag|Arab League}}''' Stts”.:
|'''3,967.06'''
|'''8,986.21'''
|'''7,594.49'''
|'''18,369.71'''
|
|}
<Ref>https://www.middleeasteye.net/news/yemens-saleh-really-worth-64-billion</Ref>.:

== References ==
{{reflist|30em}}
==External links==
*https://web.archive.org/web/20080506173842/
*http://www.amf.org.ae/venglish [https://www.albawaba.com/slideshow/richest-and-poorest-arab-countries-2021-1417946]
*[https://web.archive.org/web/20090109103952/http://www.bilaterals.org/article.php3?id_article=2513 Full text of the Agadir Agreement (English version)]
*[https://wayback.archive-it.org/all/20081003043628/http://euromesco.net/media/euromesco_paper_45.pdf ''The Agadir Agreement and Open regionalism'' by Steffen Wippel]
{{Arab League}}

[[Category:Arab League]]
[[Category:Economy of the Arab League| ]]
[[Category:International economic organizations]]
[[Category:Trade blocs]]