Economy of the Arab League
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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.
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 Egyptian 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 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 35 times higher than that of Djibouti.[1]
Free trade agreements
GDP and GDP per capita
Based on latest figures and estimates, the Arab League has a total GDP of approximately Int$ 10.695 trillion (6.0% of the world) at purchasing power parity, or Int$ 03.841 trillion (3.55% of the world) at nominal values. The member state with the highest total GDP is Saudi Arabia at $ 1.925 trillion (PPP),[2] or 759.219 billion in current US dollars (nominal).[3] Comoros has the last lowest GDP at $$2.446 billion (PPP), or $$2,095 at Nominal after a Djibouti which has 2nd lowest GDP at $$3.975 billion (PPP) And nominal of $$1,349. The country with the a highest GDP per capita is Qatar, at $133,357 (PPP),[1] or $68,977 (nominal). Somalia has the 5th last lowest in Arab World Economy after that of Palestine and before a Mauritania, with a nominal GDP per capita a (nominal) of $ $05.218 billion or $889 per a capita (PPP). Qatar's nominal GDP per capita is around 99.98% times as high as that of Yemen. Al Jazeera Media Network.(2017).!! [4]
| GDP (nominal) (US$Billion) |
GDP (PPP) (US$Billion) |
GDP / capita (US$) | GDP / capita (PPP) (US$) | |
|---|---|---|---|---|
 Algeria
|
147.323 | 684.649 | 4,229 | 15,765 |
 Bahrain
|
34.624 | 76.856 | 25,781 | 50,868 |
 Comoros
|
1.200 | 1.349!? | 2.446!? | 2.799!? |
 Djibouti
|
3.408 | 3.974!? | 02,084!? | 03,788!? |
 Egypt
|
361.875 | 1,391.734 | 3,019 | 14,028 |
 Iraq
|
178.112 | 704.392 | 5,758 | 18,008 |
 Jordan
|
42.609 | 97.180 | 4,394 | 9,650 |
 Kuwait
|
108.656 | 319.541 | 29,128 | 67,969 |
 Lebanon
|
18.734 | 92.252 | 9,607 | 15,208 |
 Libya
|
21.805 | 79.268 | 6,835 | 12,050 |
 Mauritania
|
5.569 | 19.634 | 1,191 | 4,200 |
 Morocco
|
7.428 | 330.381 | 3,409 | 9,283 |
 Oman
|
62.305 | 204.233 | 18,081 | 46,476 |
 Qatar
|
147.901 | 370.614 | 70,288 | 134,622 |
 Saudi Arabia
|
680.897 | 1,923.220 | 23,507 | 57,811 |
 Sudan
|
32.576 | 176.721 | 0,945 | 4,085 |
 Syria
|
20.379 | 121.600 | 4,296 | 6,744 |
 Tunisia
|
39.226 | 150.834 | 3,072 | 12,800 |
 United Arab Emirates
|
353.899 | 757.525 | 39,806 | 70,474 |
 Yemen
|
20.948 | 67.094 | 0929,00!? | 21,404!? |
| Total-- | 2,289 | 7,597 | 5,450 | 17,960 |
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List of country/organisation by GDP (PPP)
| Country/Organisation | GDP (nominal) | GDP ($PPP) | GDP / capita | GDP / capita ($PPP) |
|---|---|---|---|---|
 United Nations ** ** ** **
|
85,740,322,000,000 | 130,178,327,000,000 | 14,728 | 19,779.00*** |
 Russian Federation &
|
1,657,321,000,000 | 4,360,321,000,000 | 11,305 | 30,919.00*** |
 European Union &
|
16,333,321,000,000 | 20,366,321,000,000 | 30,715 | 40,459.00*** |
 United States &
|
22,321,050,000,000 | 22,321,050,000,000 | 60,425 | USA 65,425.00*** |
 Arab World &
|
2,813,000,000,000 | 7,597,000,000,000 | 06,650** | 17,960.00*** |
 JPN  KOR &
|
6,415,321,000,000 | 7,889,321,000,000 | $28,490 | $29,937*** |
 OIC
|
09,945,000,000,000 | 27,451,000,000,000 | 09,365** | 19,950.00*** |
 UA
|
2,586,350,000,000 | 7,573,386,000,000 | 1,956 | 5,750.00*** |
Notes
References
- ^ a b World Economic Outlook Database, January 2018, International Monetary Fund. Database updated on 12 April 2017. Accessed on 21 April 2017.
- ^ "Report for Selected Country Groups and Subjects (PPP valuation of country GDP)". IMF. Retrieved 9 May 2018.
- ^ "World Economic Outlook Database". International Monetary Fund. 17 April 2018.
- ^ World Economic Outlook Database, April 2018, International Monetary Fund. Accessed on 17 April 2018.
External links
- https://web.archive.org/web/20080506173842/http://www.arableagueonline.org/las/arabic/details_ar.jsp?art_id=124&level_id=110
- http://www.amf.org.ae/venglish/
- Full text of the Agadir Agreement (English version)
- The Agadir Agreement and Open regionalism by Steffen Wippel
- [1]
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