Economy of the Arab League

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

Main article: Council of Arab Economic Unity

GDP and GDP per capita

Further information: List of Arab League countries by GDP (nominal) and List of Arab League countries by GDP (PPP)

Arab League HQ building in Cairo, Egypt

Arab League members depending on GDP (PPP)

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$3.841 trillion (3.55% of the world) at nominal values. The member state with the highest total GDP is Saudi Arabia at Int$1.925 trillion (PPP),[2] or 759.219 billion in current US dollars (nominal).[3] Comoros has the last lowest GDP at Int$2.446 billion (PPP), or Int$2,095 at Nominal after a Djibouti which has 2nd lowest GDP at Int$3.975 billion (PPP) And nominal of Int$1,349. The country with the a highest GDP per capita is Qatar, at Int$133,357 (PPP),[1] or Int$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 Int $05.218 billion or $889 per a capita (PPP). Qatar's nominal GDP per capita is around 105% times as high as that of Yemen. AJ news (2017).!! [4]

IMF Outlook 2019 Estimate

	GDP (nominal) (US$Billion)	GDP (PPP) (US$Billion)	GDP / capita (US$)	GDP / capita (PPP) (US$)
Algeria	183.687	684.649	4,229	15,765
Bahrain	38.952	76.856	25,781	50,868
Comoros	01.179 ?	01,349 ?	02.446 ?	02,799 ?
Djibouti	02.187 ?	03.974 ?	02,084 ?	03,788 ?
Egypt	299.589	1,391.734	3,019	14,028
Iraq	225.257	704.392	5,758	18,008
Jordan	44.256	97.180	4,394	9,650
Kuwait	136.940	319.541	29,128	67,969
Lebanon	58.281	92.252	9,607	15,208
Libya	44.964	79.268	6,835	12,050
Mauritania	5.569	19.634	1,191	4,200
Morocco	121.350	330.381	3,409	9,283
Oman	79.458	204.233	18,081	46,476
Palestine	14.498[5]	21.220 (2015 est.)[6]	5,275	7,722
Qatar	193.502	370.614	70,288	134,622
Saudi Arabia	779.289	1,923.22	23,507	57,811
Sudan	31.468	176.721	0,945	4,085
Syria	77.460	121.600	4,296	6,744
Tunisia	36.204	150.834	3,072	12,800
United Arab Emirates	427.876	757.525	39,806	70,474
Yemen	29.079	76.094	928	2,404
Total--	2,813	7,597	6,650	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***
People's Republic of China	15,209,077,000,000	29,470,000,000,000	10,8750	PRCh 20,980.000**
Russian Federation	1,657,321,000,000	4,360,321,000,000	11,305	30,919.00***
Republic of India	3,202,746,321,000	12,363,282,000,000	2,338	9,063.000**
European Union	16,333,321,000,000	20,366,321,000,000	30,715	40,459.00***
United States of America	22,321,050,000,000	22,321,050,000,000	60,425	USA 65,425.00***
Arab League WORLD *-*	2,813,000,000,000	7,597,000,000,000	6,650	17,960.00**
Japan &  Korea	5,415,321,000,000	7,889,321,000,000	42,659	46,825***
African Union	2,586,350,000,000	7,573,386,000,000	1,956	5,750.00***

Notes

References

1. World Economic Outlook Database, January 2018, International Monetary Fund. Database updated on 12 April 2017. Accessed on 21 April 2017.
2. "Report for Selected Country Groups and Subjects (PPP valuation of country GDP)". IMF. Retrieved 9 May 2018.
3. "World Economic Outlook Database". International Monetary Fund. 17 April 2018.
4. World Economic Outlook Database, April 2018, International Monetary Fund. Accessed on 17 April 2018.
5. "State of Palestine GDP - Gross Domestic Product 2017". countryeconomy.com. Retrieved 2018-08-26.
6. "The World Factbook — Central Intelligence Agency". www.cia.gov. Retrieved 2018-08-26.

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

https://de.wikipedia.org/wiki/Somalia