GCC ranks as ninth largest global economy with nearly $2.3 trillion GDP
According to the latest edition of the “GCC Countries’ Statistics at a Glance” report, the Gulf Cooperation Council (GCC) secured the ninth spot worldwide regarding Gross Domestic Product (GDP) at current prices for 2024. With a combined output reaching nearly $2.3 trillion, the region has solidified its status as a major global economic force. Furthermore, statistics indicate that GDP per capita has consistently expanded relative to the worldwide average throughout the 2016–2024 timeframe.
The Gulf region also attained high-tier global positions in external trade metrics, ranking as one of the most prominent exporting and importing hubs in 2024. A substantial merchandise trade surplus of $109.7 billion was recorded, which serves as a testament to the robust nature of the region’s export foundations and the flexibility of its supply networks.
Abu Dhabi leads ai-driven transformation in global power sector
As the UAE pivots from a resource-based economy to an industrial innovation hub, technology leaders see the region reshaping global energy operations through automation, sustainability and advanced manufacturing
Abu Dhabi is no longer defined solely by the energy it produces. Increasingly, it is being shaped by how that energy is designed, managed and optimised. As the UAE accelerates its transition from a resource-based economy to an innovation-led industrial hub, the energy sector is becoming a focal point for advanced manufacturing, automation and artificial intelligence.
This shift aligns closely with national priorities such as the Make it in the Emirates programme and the UAE’s broader industrial strategy. Energy, long the backbone of the economy, is now also serving as a testbed for how technology can drive efficiency, resilience and sustainability at scale.
“The UAE is steadily evolving into a building and innovation economy, and Abu Dhabi sits at the heart of that shift,” says Samer Najm, Strategic Account Director at Emerson Automation Solutions. “We are witnessing a decisive transformation from a resource-based model to one powered by production, design and technology-led innovation.”
Qatar economic forum to kick off on May 12, 2026
The sixth edition of the Qatar Economic Forum, powered by Bloomberg and the Ministry of Commerce and Industry (MoCI), will be held from May 12-14, 2026, under the slogan ‘The Global Rebalance: Capital, Power and the Middle East’.Ahost of heads of states, CEOs of global companies and investors will participate in the event.The forum is expected to explore how the balance of capital and power is reshaping growth trajectories, risks, and opportunities around the globe. In its new edition, the QEF will also address radical changes in capital allocation and the region’s influence.
Kuwait to boost Islamic finance
Kuwait is planning to introduce legislation to regulate the issuance of sukuk, or Islamic bonds, both domestically and internationally, as part of efforts to support more sustainable financing for the oil-rich Gulf nation, Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah said on Wednesday.
Speaking at the World Governments Summit in Dubai, Al-Sabah highlighted that Kuwait is exploring a variety of debt instruments to diversify its economy. The country has been implementing fiscal reforms aimed at stimulating growth and controlling its budget deficit amid persistently low oil prices. Hydrocarbons continue to dominate Kuwait’s revenue stream, accounting for nearly 90 percent of government income in 2024.
The Gulf Cooperation Council’s debt capital market is projected to exceed $1.25 trillion by 2026, driven by project funding and government initiatives, representing a 13.6 percent expansion, according to Fitch Ratings.
In Oman, UK, US and Kuwait are top sources of FDI
The United Kingdom, the United States and Kuwait emerged as the top three sources of foreign direct investment (FDI) into Oman at the end of the third quarter of 2025, underlining the sultanate’s continued appeal to international investors, according to the latest data from the National Centre for Statistics and Information.
The UK ranked first with an FDI stock of close to RO16bn at the end of September 2025, marking a 21.5 percent year-on-year increase compared to the same period in 2024. The figure highlights the depth of Oman-UK economic ties, particularly across energy, industry and financial services.
The US was second with investments totalling about RO8.2bn, posting the strongest growth among the top three at 24.7 percent year-on-year. The increase reflects growing interest of US firms in Oman’s energy transition projects, technology-driven sectors and logistics.
FDI from Kuwait was valued at approximately RO1.37bn, recording an annual growth of 11.5 percent. The data points to sustained Gulf capital flows into Oman and continued investor confidence in the sultanate’s production and service sectors.
UAE PMI rises to 11-month high
UAE non-oil companies recorded their fastest increase in new orders in nearly two years in January, signaling strengthening private-sector demand, an economic tracker showed.
According to the latest Purchasing Managers’ Index report released by S&P Global, the Emirates’ PMI reached an 11-month high of 54.9 in January, up from 54.2 in December.
Any PMI reading above 50 indicates expansion in non-oil business activity, while a reading below 50 signals contraction.
The sustained growth of the non-oil sector in the UAE mirrors a wider trend across the Middle East and North Africa, where countries are pursuing economic diversification to reduce reliance on crude revenues.
Saudi Arabia is leading the region in non-oil business activity, with the Kingdom’s PMI reaching 56.3 in January, driven by output growth, improving market conditions, and stronger client demand.