A. Compare GDP growth of GCC over the past 3 years. B. Compare FDI exposure of...

A. Compare GDP growth of GCC over the past 3 years. B. Compare FDI exposure of GCC countries for past 3 years. C. Compare “Diversification of economy policy impact on contribution of NONE OIL sectors in GDP 3 years’ analysis of GCC.

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GDP growth of GCC over the past 3 years

Economic growth of the Gulf countries has been on the decline in 2019 from its 2018 level, which is expected to grow again in the 2020-21 period. Fom its 2% level in 2018, it is expected to reduce to 0.8% in 2019 before increasing again in 2020-21.

Consider the country-wise analysis -

1. Bahrain: First quarter of 2019 saw growth rate of 2.6% but the second quarter growth rate dropped to 0.8%. Contribution of oil and non-oil sectors was roughly equal. Expected growth rate in the year 2020-21 is 2.3%.

2. Kuwait: 2019 growth rate will drop to 0.4% but the 2020 growth rate will be 2.2%, followed by 2021 growth of 2%. Contribution of oil sectors was massive - 0.8 percentage points, and non-oil sector was 0.2 percentage points.

3. Oman: 2019 growth rate will drop to 0% but the 2020 growth rate will be 3.7%, followed by 2021 growth of 4.3%. Natural gas production is on the rise.

4. Qatar: First quarter of 2019 saw growth rate of 0.8% but the second quarter growth rate increased to 1.5%. Contribtion was both by oil and non-oil economies.

5. Saudi Arabia: First quarter of 2019 saw growth rate of 1.7% but the second quarter growth rate dropped to 0.5%. Expected growth rate in the year 2020-21 is 2.1%.

6. United Arab Emirates: The non-oil sector growth rate was more than the growth in the oil sector. The decline in the oil sector by 7% slowed for growth and weakened the sector. The GDP is expected to grow from 1.7% in 2018 to 3% by 2021.

Rahul Sunny answered 1 year ago

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