Emirates NBD Research
Choose your website / عربي Choose your website and language
GCC Forecasts
| UAE | 2020 | 2021 | 2022E | 2023F | 2024F |
| Nominal GDP USD bn | 349.7 | 415.3 | 510.3 | 521.6 | 553.6 |
| Real GDP % | -5.0 | 3.9 | 8.0 | 3.4 | 4.3 |
| Current Account % GDP | 6.0 | 11.6 | 16.8 | 13.1 | 13.3 |
| Budget Balance % GDP | -2.5 | 4.0 | 10.5 | 5.6 | 5.6 |
| CPI % | -2.1 | 0.2 | 4.8 | 3.5 | 2.0 |
| KSA | 2020 | 2021 | 2022E | 2023F | 2024F |
| Nominal GDP USD bn | 727.3 | 861.0 | 1108.1 | 1110.0 | 1170.6 |
| Real GDP % | -4.3 | 3.9 | 8.7 | 2.1 | 3.7 |
| Current Account % GDP | -3.1 | 5.1 | 13.8 | 8.8 | 8.5 |
| Budget Balance % GDP | -10.8 | -2.3 | 2.5 | -0.1 | 0.3 |
| CPI % | 3.4 | 3.1 | 2.5 | 3.0 | 2.5 |
| Qatar | 2020 | 2021 | 2022E | 2023F | 2024F |
| Nominal GDP USD bn | 144.4 | 179.6 | 211.8 | 210.9 | 222.4 |
| Real GDP % | -3.6 | 1.5 | 4.5 | 2.3 | 3.0 |
| Current Account % GDP | -2.1 | 14.7 | 26.3 | 32.1 | 29.3 |
| Budget Balance % GDP | -2.0 | 0.2 | 11.6 | 5.6 | 6.0 |
| CPI % | -2.6 | 2.3 | 5.0 | 3.0 | 2.5 |
| Kuwait | 2020 | 2021 | 2022E | 2023F | 2024F |
| Nominal GDP USD bn | 105.7 | 135.9 | 173.7 | 167.3 | 174.1 |
| Real GDP % | -8.9 | 1.4 | 8.0 | 0.2 | 2.7 |
| Current Account % GDP | 4.6 | 27.5 | 30.2 | 16.8 | 20.1 |
| Budget Balance % GDP | -33.2 | -7.3 | 7.1 | -0.3 | 0.6 |
| CPI % | 2.1 | 3.4 | 4.0 | 3.0 | 2.0 |
| Oman | 2020 | 2021 | 2022E | 2023F | 2024F |
| Nominal GDP USD bn | 75.8 | 88.1 | 114.5 | 112.9 | 117.1 |
| Real GDP % | -3.4 | 3.1 | 5.3 | 1.7 | 2.4 |
| Current Account % GDP | -16.2 | -4.9 | 7.9 | 2.2 | 2.9 |
| Budget Balance % GDP | -15.2 | -3.6 | 4.0 | 1.0 | 1.0 |
| CPI % | -0.9 | 1.6 | 2.8 | 2.0 | 2.0 |
| Bahrain | 2020 | 2021 | 2022E | 2023F | 2024F |
| Nominal GDP USD bn | 34.6 | 39.3 | 44.4 | 48.0 | 50.7 |
| Real GDP % | -4.1 | 2.7 | 4.9 | 0.6 | 3.5 |
| Current Account % GDP | -9.4 | 6.6 | 15.4 | 12.5 | 13.4 |
| Budget Balance % GDP | -12.8 | -6.4 | -0.5 | -2.1 | -1.0 |
| CPI % | -2.3 | -0.6 | 3.6 | 2.0 | 2.0 |
| GCC Average* | 2020 | 2021 | 2022E | 2023F | 2024F |
| Nominal GDP USD bn | 480.1 | 566.4 | 729.8 | 733.3 | 774.7 |
| Real GDP % | -4.7 | 3.4 | 7.8 | 2.2 | 3.6 |
| Current Account % GDP | -1.1 | 9.0 | 16.8 | 12.5 | 12.4 |
| Budget Balance % GDP | -9.8 | -1.0 | 5.7 | 1.8 | 2.2 |
| CPI % | 1.0 | 2.2 | 3.4 | 3.0 | 2.3 |
* Weighted by normal GDP