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 Greater Arab Free Trade Area, founded in 1997, is the league's free trade area which removed customs taxes on 65% of trade between countries 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: Syria, Iraq and Yemen.
History
Free trade agreements
GDP and GDP per capita of member states
Based on latest figures and estimates, the Arab League has a GDP of approximately US$4.148 trillion at nominal values and Int$10.528 trillion at purchasing power parity (PPP). The member state with the largest nominal GDP is Saudi Arabia at US$1.389 trillion, followed by the UAE at US$622 billion and Egypt at US$430 billion. The member state with the highest GDP (PPP) is Saudi Arabia at Int$2.895 trillion, followed by Egypt at Int$2.567 trillion and the UAE at Int$1.006 trillion.
The member state with the smallest nominal GDP is Comoros at US$1.814 billion.
The member state with the highest nominal GDP per capita is Qatar at US$68,138, followed by the UAE at US$54,214 and Saudi Arabia at US$37,811. The member states with the highest GDP (PPP) per capita is Qatar at Int$112,312, followed by the UAE at Int$87,774 and Saudi Arabia at Int$78,815. The member state with the lowest nominal GDP per capita is Yemen at US$384.
List +Latest available GDP data for members of the Arab League in $US Country/Territory GDP (nominal, Billions) GDP (PPP, Billions) GDP per capita (nominal) GDP per capita (PPP)Year World126,295.331222,759.63914,21725,59120264,148.370The sum of all GDP figures below.10,527.618The sum of all GDP figures below.8,91122,61320261,388.6762,894.59237,81178,8152026621.5461,006.29354,21487,7742026429.6452,566.6883,90423,3212026317.173941.5446,62819,6772026264.784670.5075,67714,3762026217.416358.36468,138112,3122026 194.333469.3945,10712,3362026172.920283.13333,16454,3032026117.176247.39021,64545,698202664.909153.6465,60113,257202660.745196.5644,89315,833202660.043136.3792,8076,375201052.453141.2606,96218,749202648.849115.91529,56970,165202644.688126.7918641,956202634.497 70.1896,443 13,110202516.017 25.2332,853 4,4952024 14.35243.9123,0339,280202614.17434.1088131,95620267.43530.9263841,59620264.72510.8654,42110,16620261.8143.9251,9514,2232026
Notes
References
External links https://web.archive.org/web/20080506173842/ http://www.amf.org.ae/venglish https://www.webometrics.info/en/Arab_world Full text of the Agadir Agreement (English version) The Agadir Agreement and Open regionalism by Steffen Wippel https://www.worlddata.info/iq-by-country.php