GCC Forecasts

 

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UAE 2019 2020 2021E 2022F 2023F
Nominal GDP USD bn 417.5 359.1 415.1 511.7 530.1
Real GDP % 3.4 -6.1 3.8 5.7 5.8
Current Account % GDP 8.9 5.8 7.9 14.7 14.3
Budget Balance % GDP 2.6 -2.4 4.5 8.3 5.0
CPI % -1.9 -2.1 0.2 4.3 2.5
           
KSA 2019 2020 2021E 2022F 2023F
Nominal GDP USD bn 803.6 703.4 833.5 1,081.8 1,088.4
Real GDP % 0.3 -4.1 3.2 7.7 3.5
Current Account % GDP 4.8 -3.1 5.8 16.8 12.5
Budget Balance % GDP -4.4 -11.1 -2.3 10.4 7.5
CPI % -1.2 3.4 3.1 3.0 2.5
           
Qatar 2019 2020 2021E 2022F 2023F
Nominal GDP USD bn 175.8 144.4 186.1 241.9 239.1
Real GDP % 0.8 -3.6 2.5 5.1 2.8
Current Account % GDP 2.4 -2.5 2.8 7.6 6.9
Budget Balance % GDP 1.0 -2.1 3.2 15.8 12.7
CPI % -0.9 -2.6 2.3 3.5 2.0
           
Kuwait 2019 2020 2021E 2022F 2023F
Nominal GDP USD bn 136.2 105.7 134.4 184.6 182.6
Real GDP % -0.6 -8.9 1.4 6.7 4.1
Current Account % GDP 24.5 21.1 25.4 38.2 33.1
Budget Balance % GDP -13.6 -33.2 -5.7 10.1 5.5
CPI % 1.1 2.1 3.4 3.5 2.5
           
Oman 2019 2020 2021E 2022F 2023F
Nominal GDP USD bn 87.9 73.9 85.8 109.6 109.3
Real GDP % -1.1 -3.2 3.0 4.0 3.1
Current Account % GDP -4.9 -11.7

-2.5

12.6 9.5
Budget Balance % GDP -7.7 -15.5 -3.7 7.0 7.0
CPI % 0.1 -0.9 1.6 2.5 2.0
           
Bahrain 2019 2020 2021E 2022F 2023F
Nominal GDP USD bn 38.7 34.7 38.9 46.1 47.6
Real GDP % 2.0 -4.4 2.2 3.4 3.7
Current Account % GDP -2.1 -9.3 6.7 9.1 8.0
Budget Balance % GDP -4.7 -12.9 -6.6 3.6 3.2
CPI % 1.0 -2.3 -0.6 3.0 2.0
           
GCC Average* 2019 2020 2021E 2022F 2023F
Nominal GDP USD bn 529.5 466.1 548.3 707.3 714.8
Real GDP % 1.0 -4.9 3.1 6.6 4.0
Current Account % GDP 6.5 0.4 7.1 16.7 13.8
Budget Balance % GDP -3.0 -9.9 -0.5 10.2 7.2
CPI % -1.0 1.0 2.2 3.4 2.4

* Weighted by normal GDP