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GCC Forecasts

 

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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