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GCC Forecasts

 

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UAE 2019 2020 2021E 2022F 2023F
Nominal GDP USD bn 418.3 349.7 415.3 511.5 548.5
Real GDP % 1.1 -5.0 3.9 7.0 3.9
Current Account % GDP 8.9 6.0 11.6 15.3 16.4
Budget Balance % GDP 2.6 -2.5 4.5 5.9 4.0
CPI % -1.9 -2.1 0.2 4.5 2.7
           
KSA 2019 2020 2021E 2022F 2023F
Nominal GDP USD bn 803.6 703.4 833.5 1026.4 1089.0
Real GDP % 0.3 -4.1 3.2 7.7 3.5
Current Account % GDP 4.8 -3.2 5.3 14.0 13.3
Budget Balance % GDP -4.4 -11.1 -2.3 8.2 8.5
CPI % -1.2 3.4 3.1 3.0 2.5
           
Qatar 2019 2020 2021E 2022F 2023F
Nominal GDP USD bn 176.4 144.4 179.6 230.9 244.1
Real GDP % 0.8 -3.6 1.5 5.1 2.7
Current Account % GDP 2.4 -2.1 14.6 13.9 13.0
Budget Balance % GDP 1.0 -2.1 0.2 13.2 14.0
CPI % -0.9 -2.6 2.3 4.3 2.5
           
Kuwait 2019 2020 2021E 2022F 2023F
Nominal GDP USD bn 136.2 105.7 134.4 173.9 185.6
Real GDP % -0.6 -8.9 1.4 6.7 4.1
Current Account % GDP 24.5 21.1 25.1 35.1 34.6
Budget Balance % GDP -13.6 -33.2 -7.0 7.9 7.1
CPI % 1.1 2.1 3.4 4.0 2.5
           
Oman 2019 2020 2021E 2022F 2023F
Nominal GDP USD bn 87.9 73.9 85.8 106.8 112.9
Real GDP % -1.1 -3.2 3.0 4.9 3.4
Current Account % GDP -4.9 -11.7 -2.5 9.9 10.7
Budget Balance % GDP -7.7 -15.5 -3.7 6.3 8.8
CPI % 0.1 -0.9 1.6 3.3 2.5
           
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 7.5 8.8
Budget Balance % GDP -4.7 -12.8 -6.5 0.7 1.7
CPI % 1.0 -2.3 -0.6 3.5 2.0
           
GCC Average* 2019 2020 2021E 2022F 2023F
Nominal GDP USD bn 529.6 464.4 549.0 673.9 716.3
Real GDP % 0.5 -4.6 3.0 6.9 3.6
Current Account % GDP 6.5 0.4 9.1 16.4 15.2
Budget Balance % GDP -3.0 -10.0 -0.9 7.9 7.8
CPI % -1.0 1.0 2.2 3.6 2.5

* Weighted by normal GDP