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 | 508.4 | 547.9 | 553.3 |
| Real GDP % | -5.0 | 3.9 | 7.6 | 3.9 | 4.3 |
| Current Account % GDP | 6.0 | 11.6 | 15.4 | 15.8 | 13.8 |
| Budget Balance % GDP | -2.5 | 4.5 | 8.2 | 3.0 | 2.6 |
| CPI % | -2.1 | 0.2 | 4.5 | 3.5 | 2.0 |
| KSA | 2020 | 2021 | 2022E | 2023F | 2024F |
| Nominal GDP USD bn | 703.4 | 833.5 | 1027.0 | 1097.6 | 1106.4 |
| Real GDP % | -4.1 | 3.2 | 8.3 | 3.1 | 2.9 |
| Current Account % GDP | -3.2 | 5.3 | 14.9 | 15.2 | 10.3 |
| Budget Balance % GDP | -11.1 | -2.3 | 6.4 | 6.2 | 2.1 |
| 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 | 227.3 | 228.8 |
| Real GDP % | -3.6 | 1.5 | 4.5 | 2.7 | 3.0 |
| Current Account % GDP | -2.1 | 14.7 | 26.3 | 32.6 | 28.4 |
| Budget Balance % GDP | -2.0 | 0.2 | 12.3 | 15.4 | 10.6 |
| 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 | 185.2 | 182.0 |
| Real GDP % | -8.9 | 1.4 | 8.0 | 2.4 | 2.7 |
| Current Account % GDP | 4.6 | 27.5 | 30.2 | 26.6 | 20.7 |
| Budget Balance % GDP | -33.2 | -11.3 | 5.3 | 6.2 | 1.4 |
| CPI % | 2.1 | 3.4 | 4.0 | 3.0 | 2.0 |
| Oman | 2020 | 2021 | 2022E | 2023F | 2024F |
| Nominal GDP USD bn | 73.9 | 85.8 | 105.8 | 112.7 | 112.1 |
| Real GDP % | -3.2 | 3.0 | 5.1 | 3.4 | 2.4 |
| Current Account % GDP | -16.7 | -5.0 | 7.7 | 7.7 | 2.7 |
| Budget Balance % GDP | -15.5 | -5.0 | 3.2 | 3.3 | 1.4 |
| CPI % | -0.9 | 1.6 | 3.0 | 2.5 | 2.0 |
| Bahrain | 2020 | 2021 | 2022E | 2023F | 2024F |
| Nominal GDP USD bn | 34.7 | 38.9 | 45.7 | 48.6 | 50.4 |
| Real GDP % | -4.4 | 2.2 | 4.1 | 3.2 | 3.5 |
| Current Account % GDP | -9.3 | 6.7 | 15.4 | 15.1 | 13.5 |
| Budget Balance % GDP | -12.8 | -6.5 | -0.8 | 0.3 | -1.0 |
| CPI % | -2.3 | -0.6 | 3.5 | 2.5 | 2.0 |
| GCC Average* | 2020 | 2021 | 2022E | 2023F | 2024F |
| Nominal GDP USD bn | 464.4 | 548.8 | 676.3 | 723.6 | 730.4 |
| Real GDP % | -4.6 | 3.0 | 7.4 | 3.2 | 3.2 |
| Current Account % GDP | -1.1 | 9.1 | 17.1 | 17.7 | 13.6 |
| Budget Balance % GDP | -10.0 | -1.3 | 7.0 | 6.1 | 2.9 |
| CPI % | 1.0 | 2.2 | 3.4 | 3.1 | 2.3 |
* Weighted by normal GDP