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FINANCIAL NEWS
GCC’s 2011 GDP at USD1.4tr: Fakhru
19 May 2013
(MENAFN) Bahrain’s minister of trade and industry, Hassan Fakhru, stated that in 2011, the Gulf Cooperation Council’s (GCC) gross domestic product (GDP) stood at around USD1.4 trillion, reported Emirates 24/7.
Fakhru added that the figure ranked the GCC as the 13th largest economy worldwide in the year.
He also said that the region’s trade with other countries reached almost USD1.2 trillion, of which exports accounted for nearly USD811 billion and imports for USD379 billion, bringing a surplus of USD432 billion.
As for the GCC’s GDP per capita, the minister said that it stood at USD30,000.
It is worth noting that the bloc’s total population grew to 45 million at the end of 2011 from 14 million when the GCC was formed in 1981.
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