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GCC Forecasts

 

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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