Muscat: The Gulf Cooperation Council The Gulf Cooperation Council (GCC) states will celebrate tomorrow ‘Monday’ the 45th anniversary of the Council’s founding, as they continue to solidify their standing as an influential economic and developmental force at both regional and global levels, driven by performance indicators that reflect the robustness of their economies and the depth of their integration across various sectors.
According to Oman News Agency, data issued by the Gulf Statistical Centre show that the current gross domestic product (GDP) of the GCC states reached approximately USD 2.4 trillion in 2025, positioning the Council’s economies among the world’s influential economic powers. Meanwhile, the non-oil sector’s contribution exceeded 78%, with non-oil GDP growth reaching 5.3% during the same year.
In the financial sector, the GCC states continued to enhance their financial stability, with commercial bank assets reaching approximately USD 3.9 trillion, registering growth of 11.9% between 2024 and 2025. Bank deposits reached USD 2.3 trillion, with a growth rate of 10.6%, reflecting strong banking liquidity and growing confidence in the Gulf financial sector.
Indicators also confirm the growing weight of Gulf investments globally, with the assets of Gulf sovereign wealth funds reaching approximately USD 5 trillion, representing 30.3% of total sovereign funds worldwide.
In trade, the GCC states recorded a total trade volume of USD 1.6 trillion in 2024, a growth of 7.4% compared to 2023, while Gulf merchandise exports reached approximately USD 849.6 billion.
In the energy sector, the GCC states maintained their pivotal position in the global energy market, with oil production of 16.6 million barrels per day, accounting for approximately 22.2% of global crude oil production.
Global competitiveness indicators for 2025 also show notable progress by the GCC states. The Council ranked 15th globally in the overall index, 8th globally in the tax policy index, and 11th in the public finance index.
At the level of Gulf integration, the Gulf Common Market recorded continuous growth in 2025, with intra-GCC trade reaching approximately USD 146 billion, a growth of 85.2% compared to 2012.
The GCC states also witnessed growing social mobility, evidenced by the movement of more than 41.4 million Gulf citizens among member states, and an increase in the number of Gulf students studying in government schools of other member states to 43,200 students.
In the tourism sector, Gulf tourism revenues reached approximately USD 132.3 billion, reflecting the growing appeal of Gulf destinations.
On the political front, the GCC states continued to strengthen their regional and international presence by adopting unified positions on regional and international issues, intensifying efforts to support security and stability.
It is noteworthy that the Gulf Cooperation Council was established on 25 May 1981, with the aim of enhancing cooperation, integration, and interconnection among member states across various fields.