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Gulf Investment Corporation

GCC Economic Statistics

6th Edition, 2006

GCC Economic Statistics


6th Edition, 2006

Contact Details
Mailing Address
P.O. Box 3402
Safat 13035
Kuwait

Courier Address
Sharq
Jaber Al Mubarak Street
Kuwait

Website
www.gulnvestmentcorp.com
Email gic@gic.com.kw

S.W.I.F.T
GCOR KWKW
Telephone (+965) 222 5000
Facsimile (+965) 244 8894

Foreword

We are pleased to publish the sixth edition of Economic Statistics for GCC Countries.
Although the information contained is available from various published sources, we have
produced it in a single volume covering: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the
United Arab Emirates. We tried to be comprehensive in providing both domestic and external
economic data on the countries concerned.
The rationale for this volume is to provide a comparative picture of the countries in the region.
Some information, however, is available for some countries but not others. All information,
though, was sourced through ofcial national and international organizations, including: the
World Bank, IMF, UNCTAD and OECD.
Our objective is to provide interested parties, whether investors or researchers, with reliable
information on the economies of the six countries. The GCC region is gaining in stature among
emerging market economies and we hope that we are responding to a need for information on
this growing region.
The Economics and Strategy Division at GIC intends to continue its annual updating of this publication and if the reader nds this compendium practical and benecial, GIC would have
achieved its objective. We also welcome the readers feedback.

Hisham A. Al-Razzuqi
Chief Executive Ofcer
December 2006.

Contents

Foreword - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 1

Kuwait - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 23

Summary of GCC Economies - - - - - - - - - - - - - - - - - - - - - - 5

Graph-GDP at Current Prices- - - - - - - - - - - - - - - - - - - - 24

Graph-GDP of GCC Countries - - - - - - - - - - - - - - - - - - - - - - 6

Graph-GDP by Main activities- - - - - - - - - - - - - - - - - - - - 24

Graph-Population of GCC Countries - - - - - - - - - - - - - - - - - 6

Graph-Trade Balance & Current Account- - - - - - - - - - - - 25

Graph-Oil Production of GCC Countries - - - - - - - - - - - - - - - 7

Graph-Ination Rate- - - - - - - - - - - - - - - - - - - - - - - - - - 25

Graph-Stock Market Capitalization of GCC Countries - - - - - - 7

Gross Domestic Product at Current Prices- - - - - - - - - - - 26

Summary of Main Economic Indicators - - - - - - - - - - - - - - - 8

Domestic Liquidity (M2)- - - - - - - - - - - - - - - - - - - - - - - - 26


Government Revenues and Expenditures- - - - - - - - - - - - 27
Reserves- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 27

Bahrain - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 13

Domestic Public Debt- - - - - - - - - - - - - - - - - - - - - - - - - 28

Graph-GDP at Current Prices - - - - - - - - - - - - - - - - - - - - 14

External Debt- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 28

Graph-GDP by Main activities - - - - - - - - - - - - - - - - - - - - 14

Population- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 28

Graph-Trade Balance & Current Account- - - - - - - - - - - - 15

Labor Force- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 29

Graph-Ination Rate- - - - - - - - - - - - - - - - - - - - - - - - - - 15

Consumer Price Index- - - - - - - - - - - - - - - - - - - - - - - - - 29

Gross Domestic Product at Current Prices- - - - - - - - - - - 16

Interest Rates- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 30

Domestic Liquidity (M2)- - - - - - - - - - - - - - - - - - - - - - - - 16

Stock Market- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 30

Government Revenues and Expenditures- - - - - - - - - - - - 17

Average Oil Production- - - - - - - - - - - - - - - - - - - - - - - - - 30

Reserves- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 17

Crude Oil Prices- - - - - - - - - - - - - - - - - - - - - - - - - - - - - 30

Domestic Public Debt- - - - - - - - - - - - - - - - - - - - - - - - - 17

Balance of Payments- - - - - - - - - - - - - - - - - - - - - - - - - - 31

External Debt- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 18

Capital and Financial Account- - - - - - - - - - - - - - - - - - - - 32

Population- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 18

Foreign Direct Investment- - - - - - - - - - - - - - - - - - - - - - - 32

Labor Force- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 18

Main Destinations of Exports- - - - - - - - - - - - - - - - - - - - - 33

Consumer Price Index- - - - - - - - - - - - - - - - - - - - - - - - - 19

Main Origins of Imports- - - - - - - - - - - - - - - - - - - - - - - - 33

Interest Rates- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 19

Trade with GCC Countries - - - - - - - - - - - - - - - - - - - - - - 34

Stock Market- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 19
Oil Statistics- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 19
Balance of Payments- - - - - - - - - - - - - - - - - - - - - - - - - - 20

Oman - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 35

Foreign Direct Investment- - - - - - - - - - - - - - - - - - - - - - 20

Graph-GDP at Current Prices- - - - - - - - - - - - - - - - - - - - - 36

Main Destinations of Exports- - - - - - - - - - - - - - - - - - - - - 21

Graph-GDP by Main activities- - - - - - - - - - - - - - - - - - - - - 36

Main Origins of Imports- - - - - - - - - - - - - - - - - - - - - - - - 21

Graph-Trade Balance & Current Account- - - - - - - - - - - - - 37

Trade with GCC Countries- - - - - - - - - - - - - - - - - - - - - - - 22

Graph-Ination Rate- - - - - - - - - - - - - - - - - - - - - - - - - - 37

Gross Domestic Product at Current Prices- - - - - - - - - - - 38

External Debt- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 53

Domestic Liquidity (M2) - - - - - - - - - - - - - - - - - - - - - - - 38

Population- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 53

Government Revenues and Expenditures- - - - - - - - - - - - 39

Labor Force- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 54

Reserves- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 40

Consumer Price Index- - - - - - - - - - - - - - - - - - - - - - - - - 54

Domestic Public Debt- - - - - - - - - - - - - - - - - - - - - - - - - 40

Stock Market- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 55

External Debt- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 40

Crude Oil Prices- - - - - - - - - - - - - - - - - - - - - - - - - - - - - 55

Population- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 41

Oil Production- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 55

Labor Force- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 41

Balance of Payments- - - - - - - - - - - - - - - - - - - - - - - - - - 56

Consumer Price Index- - - - - - - - - - - - - - - - - - - - - - - -

42

Foreign Direct Investment- - - - - - - - - - - - - - - - - - - - - - 56

Interest Rates- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 42

Main Destinations of Exports- - - - - - - - - - - - - - - - - - - - - 57

Stock Market- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 42

Main Origins of Imports- - - - - - - - - - - - - - - - - - - - - - - - 57

Oil Prices- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 43

Trade with GCC Countries- - - - - - - - - - - - - - - - - - - - - - - 58

Oil Production- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 43
Foreign Direct Investment- - - - - - - - - - - - - - - - - - - - - - 43
Balance of Payments- - - - - - - - - - - - - - - - - - - - - - - - - - 44

Saudi Arabia - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 59

Main Destinations of Exports- - - - - - - - - - - - - - - - - - - - - 45

Graph-GDP at Current Prices- - - - - - - - - - - - - - - - - - - - 60

Main Origins of Imports- - - - - - - - - - - - - - - - - - - - - - - - 45

Graph-GDP by Main activities- - - - - - - - - - - - - - - - - - - - 60

Trade with GCC Countries- - - - - - - - - - - - - - - - - - - - - - - 46

Graph-Trade Balance & Current Account- - - - - - - - - - - - 61


Graph-Ination Rate- - - - - - - - - - - - - - - - - - - - - - - - - - 61
Gross Domestic Product at Current Prices- - - - - - - - - - - 62

Qatar - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 47

Domestic Liquidity (M2)- - - - - - - - - - - - - - - - - - - - - - - - 62

Graph-GDP at Current Prices- - - - - - - - - - - - - - - - - - - - 48

Government Revenues and Expenditures- - - - - - - - - - - - 63

Graph-GDP by Main activities- - - - - - - - - - - - - - - - - - - - 48

Reserves- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 63

Graph-Trade Balance & Current Account- - - - - - - - - - - - 49

Domestic Public Debt- - - - - - - - - - - - - - - - - - - - - - - - - 64

Graph-Ination Rate- - - - - - - - - - - - - - - - - - - - - - - - - - 49

External Debt- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 64

Gross Domestic Product at Current Prices- - - - - - - - - - - 50

Population- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 64

Domestic Liquidity (M2)- - - - - - - - - - - - - - - - - - - - - - - - 50

Labor Force- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 64

Government Revenues and Expenditures- - - - - - - - - - - - 51

Consumer Price Index- - - - - - - - - - - - - - - - - - - - - - - - - 65

Reserves- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 52

Stock Market- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 65

Domestic Public Debt- - - - - - - - - - - - - - - - - - - - - - - - - 52

Oil Statistics- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 65

Gulf Investment Corporation GCC Economic Statistics Sixth Edition 2006

02 | 03

Balance of Payments- - - - - - - - - - - - - - - - - - - - - - - - - - 66

Interest Rates- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 74

Foreign Direct Investment- - - - - - - - - - - - - - - - - - - - - - - 66

Reserves- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 74

Main Destinations of Exports- - - - - - - - - - - - - - - - - - - - - 67

Domestic Public Debt- - - - - - - - - - - - - - - - - - - - - - - - - - 74

Main Origins of Imports- - - - - - - - - - - - - - - - - - - - - - - - - 67

External Debt- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 74

Trade with GCC Countries- - - - - - - - - - - - - - - - - - - - - - - 68

Population by Emirate- - - - - - - - - - - - - - - - - - - - - - - - - 75
Labor Force- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 76
Consumer Price Index- - - - - - - - - - - - - - - - - - - - - - - - - 77

United Arab Emirates - - - - - - - - - - - - - - - - - - - - - - - - - - 69

Stock Market- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 77

Graph-GDP at Current Prices- - - - - - - - - - - - - - - - - - - - 70

Average Oil Production- - - - - - - - - - - - - - - - - - - - - - - - - 77

Graph-GDP by Main activities- - - - - - - - - - - - - - - - - - - - 70

Crude Oil Prices- - - - - - - - - - - - - - - - - - - - - - - - - - - - - 77

Graph-Trade Balance & Current Account- - - - - - - - - - - - 71

Foreign Direct Investment- - - - - - - - - - - - - - - - - - - - - - - 77

Graph-Ination Rate- - - - - - - - - - - - - - - - - - - - - - - - - - 71

Balance of Payments- - - - - - - - - - - - - - - - - - - - - - - - - - 78

Gross Domestic Product at Current Prices- - - - - - - - - - - - 72

Main Destinations of Exports- - - - - - - - - - - - - - - - - - - - - 79

Domestic Liquidity (M2)- - - - - - - - - - - - - - - - - - - - - - - - 72

Main Origins of Imports- - - - - - - - - - - - - - - - - - - - - - - - 79

Consolidated Government Revenues and Expenditures- - - 73

Trade with GCC Countries- - - - - - - - - - - - - - - - - - - - - - - 80

Summary of GCC Economies

800
700

Bn US$

600
500
400
300
200
100
0
Bahrain

2001
Kuwait

2002
Oman

2003
Qatar

2004

Saudi Arabia

2005
UAE

GCC Countries

35
30

Millions

25
20
15
10
5
0
Bahrain

2001
Kuwait

2002
Oman

2003
Qatar

2004

Saudi Arabia

2005
UAE

GCC Countries

20
15
10
5
0
Bahrain

2001
Kuwait

2002
Oman

2003
Qatar

2004

Saudi Arabia

2005
UAE

GCC Countries

(year - end)

1200
1000
800
600
400
200
0
Bahrain

2001
Kuwait

2002
Oman

2003
Qatar

2004

Saudi Arabia

2005
UAE

GCC Countries

Gulf Investment Corporation GCC Economic Statistics Sixth Edition 2006

06 | 07

Summary of Main Economic Indicators

Summary of Main Economic Indicators

2001

EXCHANGE RATE*
BAHRAINI DINAR per US DOLLAR
KUWAITI DINAR per US DOLLAR
OMANI RIYAL per US DOLLAR
QATARI RIYAL per US DOLLAR
SAUDI RIYAL per US DOLLAR
UNITED ARAB EMIRATES DIRHAM per US DOLLAR

2002

0.3065

0.3039

GDP at CURRENT PRICES (Mn US$)


BAHRAIN
KUWAIT
OMAN
QATAR
SAUDI ARABIA
UNITED ARAB EMIRATES

7,929
34,909
19,949
17,538
183,257
69,227

8,448
38,118
20,304
19,364
188,803
74,297

GCC COUNTRIES

332,809

GDP at CURRENT PRICES as of % TOTAL GDP


BAHRAIN
KUWAIT
OMAN
QATAR
SAUDI ARABIA
UNITED ARAB EMIRATES
GCC COUNTRIES

2003

0.3760
0.2980
0.3845
3.6400
3.7450
3.6725

2004

2005

0.2947

0.2920

9,699
47,831
21,783
23,534
214,859
87,611

11,182
59,268
24,778
31,734
250,673
105,251

13,381
80,779
30,733
42,463
309,944
132,202

349,334

405,317

482,886

609,502

2
10
6
5
55
21

2
11
6
6
54
21

2
12
5
6
53
22

2
12
5
7
52
22

2
13
5
7
51
22

100

100

100

100

100

GDP PER CAPITA (US$)


BAHRAIN
KUWAIT
OMAN
QATAR
SAUDI ARABIA
UNITED ARAB EMIRATES

12,105
15,119
8,051
27,023
8,736
19,847

12,569
15,751
8,000
28,393
8,785
19,791

14,077
18,782
9,305
32,777
9,758
21,681

15,816
20,529
10,256
42,653
11,127
24,364

18,482
27,007
12,249
53,345
13,406
35,067

GCC COUNTRIES

10,892

11,070

12,527

14,428

17,975

POPULATION ('000)
BAHRAIN
KUWAIT
OMAN
QATAR
SAUDI ARABIA
UNITED ARAB EMIRATES

655
2,309
2,478
649
20,976
3,488

672
2,420
2,538
682
21,491
3,754

689
2,547
2,341
718
22,019
4,041

707
2,753
2,416
744
22,529
4,320

724
2,991
2,509
796
23,119
3,770

GCC COUNTRIES

30,555

31,557

32,355

33,469

33,909

2000

2001

2002

2003

2004P

7,971
36,884
19,868
17,760
188,693
70,246
341,422

7,929
34,081
19,949
17,741
183,257
69,227
332,184

8,448
38,119
20,304
19,707
188,803
74,297
349,678

9,699
46,202
21,698
23,701
214,859
87,611
403,770

11,012
55,719
24,824
28,451
250,892
103,134
474,032

GDP PER CAPITA (US$)


BAHRAIN
KUWAIT
OMAN
QATAR
SAUDI ARABIA
UNITED ARAB EMIRATES
GCC COUNTRIES

12,493
16,444
8,271
29,115
9,690
21,634
11,932

12,105
14,760
8,051
27,721
8,736
19,847
10,875

12,569
15,752
8,000
28,561
8,785
19,791
11,078

14,077
18,142
9,308
32,467
9,758
21,681
12,479

15,576
20,239
10,275
36,476
11,066
23,874
14,088

POPULATION ('000)
BAHRAIN
KUWAIT
OMAN
QATAR
SAUDI ARABIA
UNITED ARAB EMIRATES
GCC COUNTRIES

638
2,243
2,402
610
19,473
3,247
28,613

655
2,309
2,478
640
20,976
3,488
30,546

672
2,420
2,538
690
21,491
3,754
31,565

689
2,547
2,331
730
22,019
4,041
32,357

707
2,753
2,416
780
22,673
4,320
33,649

CPI (Y/Y % CHANGE)


BAHRAIN
KUWAIT
OMAN
QATAR
SAUDI ARABIA
UNITED ARAB EMIRATES
GCC COUNTRIES

-0.70
1.80
-1.40
1.70
-1.10
1.40
-0.13

-1.20
1.67
-0.40
1.40
-1.10
2.70
0.15

-0.50
1.36
-0.20
0.20
0.20
2.90
0.86

1.60
0.98
-0.60
2.50
0.60
3.10
1.26

4.90
1.26
0.40
6.80
0.50
4.70
1.98

AVG. OIL PRODUCTION (Mn b/d)


BAHRAIN
KUWAIT
OMAN
QATAR
SAUDI ARABIA
UNITED ARAB EMIRATES
GCC COUNTRIES

0.23
2.00
0.96
0.65
8.10
2.18
14.10

0.23
1.95
0.96
0.63
7.89
2.12
13.77

0.24
1.75
0.90
0.57
7.09
1.90
12.44

0.24
2.11
0.82
0.68
8.41
2.25
14.50

0.21
2.29
0.78
0.76
8.90
2.34
15.28

GDP at CURRENT PRICES (Mn US$)


BAHRAIN
KUWAIT
OMAN
QATAR
SAUDI ARABIA
UNITED ARAB EMIRATES
GCC COUNTRIES

2001

CPI (Y/Y % CHANGE)


BAHRAIN
KUWAIT
OMAN
QATAR
SAUDI ARABIA
UNITED ARAB EMIRATES

2002

2003

2004

2005

-1.20
1.67
-0.40
1.40
-1.10
2.70

-0.50
1.36
-0.20
0.20
0.20
2.90

1.60
0.98
-0.60
2.30
0.60
3.10

2.40
1.26
0.40
6.80
0.30
5.00

2.60
4.11
1.90
8.80
0.70
6.20

GCC COUNTRIES **

0.15

0.86

1.24

1.92

3.01

AVG. OIL PRODUCTION (Mn b/d)


BAHRAIN
KUWAIT
OMAN
QATAR
SAUDI ARABIA
UNITED ARAB EMIRATES

0.23
1.95
0.96
0.63
7.89
2.12

0.24
1.75
0.90
0.57
7.09
1.90

0.24
2.11
0.82
0.68
8.41
2.25

0.21
2.29
0.78
0.76
8.90
2.34

0.91
2.57
0.77
0.77
9.35
2.38

13.77

12.44

14.50

15.28

16.03

DOMESTIC PUBLIC DEBT (Mn US$)


BAHRAIN
KUWAIT
OMAN
QATAR
SAUDI ARABIA
UNITED ARAB EMIRATES

1,523
11,099
2,226
6,052
170,900
2,769

1,588
10,689
1,808
4,619
173,750
3,938

1,573
10,236
2,042
5,476
176,240
5,870

1,557
9,332
2,172
5,074
163,950
8,841

1,668
8,435
1,139
5,124
126,840
12,559

GCC COUNTRIES

GCC COUNTRIES

194,569

196,392

201,437

190,926

155,765

DOMESTIC PUBLIC DEBT as % of GDP


BAHRAIN
KUWAIT
OMAN
QATAR
SAUDI ARABIA
UNITED ARAB EMIRATES

19
32
11
35
93
4

19
28
9
24
92
5

16
21
9
23
82
7

14
16
9
16
65
8

13
10
4
12
41
10

GCC COUNTRIES

58

56

50

40

26

EXTERNAL DEBT (Mn US$)


BAHRAIN
KUWAIT
OMAN
QATAR
SAUDI ARABIA
UNITED ARAB EMIRATES

31,505
8,468
4,252
9,192
26,584
16,430

25,790
9,976
3,943
8,679
22,367
16,057

29,220
12,126
3,575
10,025
23,806
16,678

35,971
14,028
4,418
11,478
22,539
24,304

40,795
17,521
5,958
15,793
29,729
38,288

GCC COUNTRIES

96,431

86,812

95,430

112,738

148,084

Gulf Investment Corporation GCC Economic Statistics Sixth Edition 2006

08 | 09

2000

2001

2002

2003

2004P

1,535
11,828
1,020
4,247
164,486
0
183,116

1,523
11,099
1,621
6,052
168,225
0
188,520

1,588
10,689
1,116
4,619
182,966
0
200,978

1,573
10,236
1,277
5,476
167,957
0
186,519

1,557
9,332
1,381
5,074
163,952
0
181,296

19
32
5
24
87
0
54

19
33
8
34
92
0
57

19
28
5
23
97
0
57

16
22
6
23
78
0
46

14
17
6
18
65
0
38

29,146
7,954
4,452
9,066
28,876
14,187
93,681

31,505
8,468
4,252
9,192
26,584
16,430
96,431

25,790
9,976
3,943
8,679
22,367
16,057
86,812

29,198
12,107
3,564
9,982
23,760
16,662
95,273

34,837
13,961
4,262
11,461
22,103
24,332
110,956

EXTERNAL GOVERNMENT DEBT as % of GDP


BAHRAIN
KUWAIT
OMAN
QATAR
SAUDI ARABIA
UNITED ARAB EMIRATES
GCC COUNTRIES

366
22
22
51
15
20
27

397
25
21
52
15
24
29

305
26
19
44
12
22
25

301
26
16
42
11
19
24

316
25
17
40
9
24
23

STOCK MARKET CAPITALIZATION (Bn US$)@


BAHRAIN
KUWAIT
OMAN
QATAR
SAUDI ARABIA
UNITED ARAB EMIRATES
GCC COUNTRIES

6.6
19.8
5.1
5.2
68.1
21.8
126.6

6.7
26.7
4.5
7.3
73.4
27.8
146.4

7.5
34.7
5.2
10.6
75.0
36.9
169.8

9.7
61.2
7.3
26.7
157.5
48.9
311.3

13.6
73.6
9.3
40.4
306.8
96.5
540.2

DOMESTIC PUBLIC DEBT (Mn US$)


BAHRAIN
KUWAIT
OMAN
QATAR
SAUDI ARABIA
UNITED ARAB EMIRATES
GCC COUNTRIES
DOMESTIC PUBLIC DEBT as % of GDP
BAHRAIN
KUWAIT
OMAN
QATAR
SAUDI ARABIA
UNITED ARAB EMIRATES
GCC COUNTRIES
EXTERNAL GOVERNMENT DEBT (Mn US$)
BAHRAIN
KUWAIT
OMAN
QATAR
SAUDI ARABIA
UNITED ARAB EMIRATES
GCC COUNTRIES

Summary of Main Economic Indicators


2001

2002

2003

2004

2005 P

397
24
21
52
15
24

305
26
19
45
12
22

301
25
16
43
11
19

322
24
18
36
9
23

305
22
19
37
10
29

29

25

24

23

24

6.6
26.7
4.5
7.3
73.4
27.8

7.5
34.7
5.2
10.6
75.0
36.9

9.7
61.2
7.3
26.7
157.5
48.9

13.6
73.6
9.3
40.4
306.8
96.5

17.4
128.1
15.3
87.1
651.0
175.2

GCC COUNTRIES

146.4

169.8

311.3

540.2

1,074.1

GIC STOCK MARKETS INDICES (Y/Y % CHANGE)


BAHRAIN
KUWAIT
OMAN
QATAR
SAUDI ARABIA
UNITED ARAB EMIRATES

0.0
44.8
-37.4
57.0
14.2
36.4

8.1
26.9
54.7
38.5
7.0
20.7

44.3
62.4
62.9
76.5
59.9
32.2

46.8
13.5
36.3
49.0
94.8
114.1

25.8
84.5
48.2
101.7
124.3
140.9

24.1

17.7

57.4

69.2

116.8

1.61
9.19
5.76
7.49
39.37
10.28

1.19
7.24
5.54
7.33
42.84
14.63

1.40
11.91
5.58
9.02
59.38
21.31

1. 49
19.30
5.51
13.28
84.95
27.56

2.53
31.20
10.66
16.70
123.31
44.33

GCC COUNTRIES
CURRENT ACCOUNT (Bn US$)
BAHRAIN
KUWAIT
OMAN
QATAR
SAUDI ARABIA
UNITED ARAB EMIRATES

73.70

78.77

108.60

152.09

228.73

0.23
8.32
2.08
4.15
9.35
8.75

-0.05
4.25
1.94
3.82
11.87
3.41

0.20
9.42
1.49
5.75
28.05
7.55

0.42
18.88
0.57
7.55
51.93
10.59

1.58
32.63
4.72
10.71
87.13
26.48

GCC COUNTRIES

32.88

25.24

52.46

89.94

163.25

FOREIGN DIRECT INVESTMENT* (Mn US$)


BAHRAIN
KUWAIT
OMAN
QATAR
SAUDI ARABIA
UNITED ARAB EMIRATES

80
-111
5
296
504
1,184

217
3
109
624
453
1,307

517
-67
489
625
778
4,256

865
24
200
1,199
1,942
8,359

1,049
250
715
1,469
4,628
12,000

GCC COUNTRIES

1,958

2,713

6,598

12,589

20,111

EXTERNAL GOVERNMENT DEBT as % of GDP


BAHRAIN
KUWAIT
OMAN
QATAR
SAUDI ARABIA
UNITED ARAB EMIRATES
GCC COUNTRIES

STOCK MARKET CAPITALIZATION@ (Bn US$)


BAHRAIN
KUWAIT
OMAN
QATAR
SAUDI ARABIA
UNITED ARAB EMIRATES

COMPOSITE
TRADE BALANCE (Bn US$)
BAHRAIN
KUWAIT
OMAN
QATAR
SAUDI ARABIA
UNITED ARAB EMIRATES

Provisional.

Year-end.

Negative sign means that at least one of the FDI components is negative and is not offset by positive amounts of other components.

Sources for all data mentioned in the detailed report.

Summary of Main Economic Indicators


2001

2002

2003

2004

2005 P

FOREIGN DIRECT INVESTMENT***(Mn US$)


BAHRAIN
KUWAIT
OMAN
QATAR
SAUDI ARABIA
UNITED ARAB EMIRATES

80
-111
5
296
504
1,184

217
3
109
624
453
1,307

517
-67
489
625
778
4,256

865
24
200
1,199
1,942
8,359

1,049
250
715
1,469
4,628
12,000

GCC COUNTRIES

1,958

2,713

6,598

12,589

20,111

P Provisional.
@ Year-end.

* Exchange rate is pegged to the US Dollar except in the case of Kuwait there is a band range.
** Weighted average.
*** Inward ow (Negative sign means that at least one of the FDI components is negative and is not offset by positive amounts of other components).
Sources for all data mentioned in the detailed report.

Gulf Investment Corporation GCC Economic Statistics Sixth Edition 2006

10 | 11

Bahrain

15
12

Bn US$

9
6
3
0

2001

2002

2003

2004

2005

BAHRAIN 2005 GDP BY MAIN ACTIVITIES (Mn US$)

Crude Petroleum and Natural Gas


Manufacturing
Electricity & Water
Construction
Trade
Hotels and Restaurants
Transport & Communication

Social and Personal Services


Real Estate & Business Activities
Financial Institutions
Offshore Financial Institution
Insurance
Others

3000
2500
2000
1500
1000
500
0

2001

2002

2003

2004

2005

2002

2003

2004

2005

-500

3
2.5
2.0
1.5
1.0
0.5
0.0
-0.5

2001

-1.0
-1.5

Gulf Investment Corporation GCC Economic Statistics Sixth Edition 2006

14 | 15

Bahrain
Gross Domestic Product at Current Prices (mn US$)
Crude Petroleum and Natural Gas
Quarrying
Agriculture and Fisheries
Manufacturing
Electricity and Water
Construction
Trade
Hotels and Restaurants
Transport and Communication
Social and Personal Services
Real Estate and Business Activities
Financial Institutions
Offshore Financial Institution
Insurance
Government Services
Education Services
Health Services
Private Non-Prot Institution Serving Households
Household with Employed Persons
Less: Financial Intermediation Services Indirectly Measured
Import Duties
GDP
Y/Y % Change
Crude Petroleum and Natural Gas as % of GDP
P

2001

2002

2003

2004

1,946
22
58
952
114
318
671
172
596
240
759
439
788
254
855
263
139
7
50
-867
153
7,929
-0.5%
24.5%

2,058
27
56
997
117
357
767
177
662
279
807
496
770
220
896
304
149
9
53
-877
125
8,448
6.5%
24.4%

2,392
29
59
1,077
132
370
852
174
698
331
853
546
1,153
355
959
348
170
11
54
-996
133
9,699
14.8%
24.7%

2,561
32
52
1,184
132
407
1,133
246
786
376
998
598
1,628
483
985
381
179
12
55
-1,188
142
11,182
15.3%
22.9%

2005 P

3,371
40
51
1,744
137
501
1,341
282
831
424
1,046
687
1,998
607
1,069
410
193
13
57
-1,578
158
13,381
19.7%
25.2%

Provisional.

Source: Ministry of Finance and National Economy (www.mofne.gov.bh).

Domestic Liquidity (M2) (Year-end)


US$ millions
Growth Rate%
Source : Central Bank of Bahrain, Economic Indicators March 2006.

2001

2002

2003

2004

2005

6,266
9.2%

6,914
10.3%

7,354
6.4%

7,659
4.1%

9,342
22.0%

Government Revenues and Expenditures (mn US$)


2001

2002

2003

2004

Budget*
2005

Budget*
2006

Revenues
Oil Revenue
Non-Oil Revenue
Grants
Expenditures
Current Expenditure
Capital Expenditure

2,609
1,788
721
100
2,215
1,781
434

2,731
1,839
791
102
2,742
1,968
774

3,047
2,224
723
100
2,873
2,184
689

3,459
2,510
849
100
2,938
2,298
640

3,336
2,368
917
51
3,891
2,779
1,112

3,390
2,382
957
51
4,196
2,900
1,296

Decit/Surplus
Decit/Surplus as % of GDP
Total Revenues Y/Y % Change
Oil Revenue per Capita (US$)
Non-Oil Revenue per Capita (US$)

394
5.0%
-6.4%
2,729
1,101

-11
0.1%
4.7%
2,736
1,176

174
1.8%
11.6%
3,228
1,049

521
4.7%
13.5%
3,550
1,201

-555
4.1%
-3.6%
3,270
1,267

-805
n.a.
1.6%
n.a.
n.a.

Government Revenues and Expenditures (mn US$)


Revenues
Oil Revenue
Non-Oil Revenue
Grants
Expenditures
Current Expenditure
Capital Expenditure
Decit/Surplus
Decit/Surplus as % of GDP
*

2000

2001

2002

2003

2,786
2,034
702
50
2,093
1,766
327
693
8.7%

2,609
1,788
721
100
2,215
1,781
434
394
5.0%

2,731
1,839
791
102
2,742
1,968
774
-11
0.1%

3,047
2,224
723
100
2,873
2,184
689
174
1.8%

Budget*
2004

Budget*
2005

2,144
1,303
740
100
3,161
2,284
878
-1,018
9.2%

3,336
2,368
968
3,891
2,779
1,112
-555
n.a.

Revenues are based on below market oil prices.

Source: Bahrain Monetary Agency, and Ministry of Finance and National Economy (www.mofne.gov.bh) for 2005 and 2006.

* Revenues are based on below market oil prices.


Reserves (mn US$)

Source: Central Bank of Bahrain , and Ministry of Finance and National Economy (www.mofne.gov.bh) for 2005 and 2006.

Reserves (mn US$)


Total Reserves minus Gold
SDRs
Foreign Exchange *
Reserve Position in the I.M.F.
Gold (National Valuation)
Total Reserves (mn US$)

2001

2002

2003

2004

2005

1,684
1.1
1,599
84
7
1,691

1,726
1.1
1,631
93
7
1,732

1,778
1.0
1,674
103
7
1,785

1,940
0.9
1,830
110
7
1,947

1,882
2.4
1,778
102
7
1,889

* Includes monetary authorities' claims on non-residents in the form of foreign banknotes, bank deposits, treasury bills, short and long term government securities

Total Reserves minus Gold


SDRs
Foreign Exchange*
Reserve Position in the I.M.F.
Gold (National Valuation)
Total Reserves (mn US$)
*

2000

2001

2002

2003

2004

1,564
1.3
1,478
85
7
1,571

1,684
1.1
1,599
84
7
1,691

1,726
1.1
1,631
93
7
1,732

1,778
1.0
1,674
103
7
1,785

1,940
0.9
1,830
110
7
1,947

Includes monetary authorities' claims on non-residents in the form of foreign banknotes, bank deposits, treasury bills, short and long term government securities
and other claims usable in the event of a balance of payments need.

Source: IMF, IFS, September 2005.

and other claims usable in the event of a balance of payments need.


Source: IMF, IFS, November 2006 and Central Bank of Bahrain, Economic Indicators, March 2006.

Domestic Public Debt (mn US$)

Domestic Public Debt (mn US$)


Debt
As % of GDP
P

2001

2002

2003

2004

1,523
19.2%

1,588
18.8%

1,573
16.2%

1,557
13.9%

2005 P

1,668
12.5%

Provisional.

Source: Central Bank of Bahrain, Economic Indicators, March 2006.

Gulf Investment Corporation GCC Economic Statistics Sixth Edition 2006

16 | 17

Debt
As % of GDP
P

Provisional.

Source: Bahrain Monetary Agency, Economic Indicators, March 2005.

2000

2001

2002

2003P

2004P

1,535
19.3%

1,523
19.2%

1,588
18.8%

1,573
16.2%

1,557
14.1%

Bahrain
External Debt* (mn US$)
Debt **
of which: Short-term

(mn US$)

2001

2002

2003

2004

2005

2000

2001

2002

2003

2004

31,505
6,780

25,790
8,024

29,220
9,857

35,971
10,612

40,795
14,858

29,146

31,505

25,790

29,198

34,837

2000

2001

2002

2003

2004

* Of both public and private borrowers.


** Bank loans, debt securities issued abroad and non-bank trade credits (ofcial and ofcially guaranteed).
Source: Joint BIS-IMF-OECD-World Bank External Debt Database, August 2006, (www.oecd.org).

Population ('000)
Bahraini
% of Total Population
Male
Female
Non-Bahraini
% of Total Population
Male
Female
Total Population

2001

2002

2003

2004

2005

408
62%
206
202
247
38%
170
77

418
62%
211
207
254
38%
175
79

428
62%
216
212
261
38%
180
81

438
62%
221
217
269
38%
186
83

448
62%
226
222
276
38%
191
85

655

672

689

707

724

Note: Figures may not add to total due to rounding.


rch 2005.

Source: Central Bank of Bahrain, Economic Indicators March 2006.

Labor Force ('000)


Bahraini
% of Total Labor Force
Private Sector
Public Sector*
Non-Bahrainis
% of Total Labor Force
Private Sector
Public Sector
Total Labor Force**
% of Total Population

* Excluding Ministry of Interior and Bahrain Defense Force.


** Total registered at GOSI and Civil Service Bureau.
Note: Figures may not add to total due to rounding.
Source: Central Bank of Bahrain, Economic Indicators, March 2006.

2001

2002

2003

2004

2005

84
41%
55
29
121
59%
118
3

89
39%
58
31
141
61%
138
3

95
38%
62
32
154
62%
151
3

100
35%
66
34
185
65%
182
4

106
31%
72
34
231
69%
227
4

205
31%

230
34%

249
36%

286
40%

337
47%

2000

2001

2002

2003

2004

42%

41%

39%

38%

35%

28

29

31

32

34

58%

59%

61%

62%

65%

3
190

3
205

3
230

3
248

4
285

Consumer Price Index (Y/Y % Change)


2005 P

2000

2001

2002

2003

2004

2.4

2.6

-0.7

-1.2

-0.5

1.6

4.9

2003

2004

2005

2000

2001

2002

2003

2004

0.7
7.9

2.0
7.7

3.7
8.3

2000

2001

2002

2003

2004

2000

2001

2002

2003

2004

2001

2002

2003

2004

-1.2

-0.5

1.6

2001

2002

1.5
9.4

0.9
8.0

Provisional.
Source: Central Bank of Bahrain, Economic Indicators, March 2006.

Interest Rates (Average Annual %)


Deposit Rate
Lending Rate
Source: Central Bank of Bahrain, Economic Indicators, March 2006.

Stock Market* (mn US$)


Total Market Capitalization
GIC Bahrain Index (Y/Y % change)

2001

2002

2003

2004

2005

6,619
0.0

7,514
8.1

9,645
44.3

13,577
46.8

17,411
25.8

* Year-end data.
Source: Bahrain Stock Exchange, Financial Highlight 2005 and GIC Equity Research.

Oil Statistics ('000 bl)


Crude Oil Production
Bahrain Oil Field
Abu Saafa Oil Field
Rened Oil Production

2001

2002

2003

2004

2005

85,380
13,656
71,724
87,765

86,500
13,800
72,700
91,122

87,481
13,720
73,761
92,350

76,337
13,647
62,690
92,669

68,096
13,348
54,748
97,716

Source: Central Bank of Bahrain, Economic Indicators, March 2006.

Gulf Investment Corporation GCC Economic Statistics Sixth Edition 2006

18 | 19

Bahrain
Balance of Payments (mn US$)
2001

2002

2003

2004

2005

Total Exports
Total Imports
Trade Balance
Net Services
Net Income *
Current Transfers, net
Current Account
Current Account as % of GDP

5,657
4,047
1,610
203
-322
-1,264
227
2.9%

5,887
4,697
1,190
141
-525
-857
-51
0.6%

6,721
5,319
1,402
374
-493
-1,082
201
2.1%

7,621
6,135
1,485
625
-575
-1,120
415
3.7%

10,131
7,606
2,525
686
-412
-1,223
1,575
11.8%

Capital Account, net


Financial Account, net
of which: Portfolio Investment Assets
Net Errors & Omissions

100
-417
-1,448
214

102
-1,234
-5,140
1,218

50
493
-3,096
-700

50
-391
-3,893
84

50
-1,379
-7,036
48

124

35

44

158

294

Overall Balance

* Net investment income from direct (dividends, distributed branch prots and reinvested earnings) and portfolio (equity, bonds

2000

2001

2002

2003

2004

-224

-322

-525

-493

-575

and money market

Notes:

and money market

instruments) investments.
xporting country. In the case of

Notes:

Negative signs indicate outflows while positive signs indicate inflows.


Exports and imports are both measured on a "free-on-board" (f.o.b.) basis which is the value of goods at the border of the exporting country. In the case of
imports, this excludes the cost of freight and insurance incurred beyond the border of the exporting country.

Figures may not add to total due to rounding.

Source: IMF, IFS, November 2006.

Foreign Direct Investment (mn US$)


Inward Flow *
Outward Flow
Inward Stock
Outward Stock

* Comprises equity capital, reinvested earnings and intra-company loans.


Source: UNCTAD, World Investment Report, 2006.

2001

2002

2003

2004

2005

80
216
5,986
1,968

217
190
6,203
2,158

517
741
6,720
2,899

865
1,036
7,354
3,935

1,049
1,123
8,276
5,058

2000

2001

2002

2003

2004

364

81

217

517

865

Main Destinations of Exports (f.o.b.)


Partner

2001

2002

2003

2004

2005

Value (mn US$)

% of Exports

747
410
272
381
267
196
365
339
195
410
392
292
521
413
371

13%
7%
5%
6%
5%
3%
6%
5%
3%
5%
5%
4%
5%
4%
4%

Value (mn US$)

% of Imports

Saudi Arabia
USA
UK
Saudi Arabia
USA
Japan
Saudi Arabia
USA
Japan
Saudi Arabia
Japan
Germany

1,117
476
248
1,188
461
282
1,503
560
380
1,905
430
361

28%
12%
6%
25%
10%
6%
28%
11%
7%
31%
7%
6%

Saudi Arabia
Japan
Germany

2,592
471
455

34%
6%
6%

India
USA
Saudi Arabia
USA
India
Saudi Arabia
USA
India
Saudi Arabia
Saudi Arabia
USA
UAE
Saudi Arabia
USA
UAE

Main Origins of Imports (c.i.f.)


Partner

2001

2002

2003

2004

2005

f.o.b.: The value of goods at the border of the exporting country.


c.i.f.: The value of goods, including the cost of freight and insurance, at the border of the importing country.
Note: Share of trade partners for previous years have been adjusted to reect revisions made on total imports for concerned years.
Source : IMF, Direction of Trade Statistics, various issues through September 2006.

Gulf Investment Corporation GCC Economic Statistics Sixth Edition 2006

20 | 21

Bahrain
Trade with GCC Countries* (mn US$)
Exports to

Kuwait
Oman
Qatar
Saudi Arabia
United Arab Emirates
Imports from

Kuwait
Oman
Qatar
Saudi Arabia
United Arab Emirates

Trade with GCC Countries* (mn US$)


2001

2002

2003

2004

2005

56
25
36
170
138

58
26
37
176
147

64
29
23
195
163

84
157
72
410
292

107
200
92
521
371

2001

2002

2003

2004

2005

16
16
20
1,117
126

17
18
22
1,188
134

22
22
27
1,503
169

28
31
41
1,905
214

38
42
55
2,592
291

Exports to

Kuwait
Oman
Qatar
Saudi Arabia
United Arab Emirates
Imports from

Kuwait
Oman
Qatar
Saudi Arabia
United Arab Emirates

* Discrepancies in trade statistics are caused by: Classication concepts and details, time of recording, valuation, coverage and processing errors.

Source : IMF, Direction of Trade Statistics, various issues through September 2006.

Source : IMF, Direction of Trade Statistics, various issues through September 2005.

2000

2001

2002

2003

2004

56
25
36
171
111

56
25
36
170
138

58
26
37
176
147

64
29
23
195
163

84
157
72
410
292

2000

2001

2002

2003

2004

15
15
19
1,035
116

16
16
20
1,117
126

17
18
22
1,188
134

22
22
27
1,503
169

28
31
41
1,905
214

Discrepancies in trade statistics are caused by: Classication concepts and details, time of recording, valuation, coverage and processing errors.

Kuwait

100

Bn US$

80
60
40
20
0

2001

2002

2003

Oil Sector

2004

2005

Non Oil Sector

KUWAIT 2005 GDP BY MAIN ACTIVITIES (Mn US$)

Oil and Gas


Agriculture and Fishing
Manufacturing
Electricity Gas and Water
Construction

Wholesale and Retail Trade


Transport, Storage and Communications
Financial Institutions
Real Estate and Business Services
Others

35

Bn US$

30
25
20
15
10
5
0

2001

2002

2003

2004

2005

5
4
3
2
1
0

2001

2002

2003

2004

2005

Gulf Investment Corporation GCC Economic Statistics Sixth Edition 2006

2001

24 | 25

2002

2003

2004

2005

Kuwait
Gross Domestic Product at Current Prices (mn US$)
2004 @

2005 P

2001

2002

2003

Oil and Gas


Mining and Quarrying
Agriculture and Fishing
Manufacturing*
Electricity, Gas and Water
Construction
Wholesale and Retail Trade
Restaurants and Hotels
Transport, Storage and Communications
Financial Institutions
Insurance
Real Estate and Business Services
Business Services
Community, Social and Personal Services

14,962
2
156
2,215
826
857
2,013
320
2,000
2,208
52
2,845
179
7,596

14,509
45
197
2,986
906
1,027
2,706
407
1,955
2,502
75
3,231
523
8,361

19,456
58
217
3,782
1,005
1,171
2,987
584
2,685
3,933
218
3,564
628
9,148

26,542
75
241
4,941
1,042
1,364
3,224
536
3,546
5,042
210
3,719
770
9,925

43,932
82
267
6,017
1,086
1,558
3,390
565
4,432
6,130
219
3,894
908
10,568

GDP (at Producers Prices)


Import Duties and Imputed Bank Charges

36,231
-1,322

39,430
-1,312

49,434
-1,603

61,177
-1,909

83,048
-2,268

GDP (at Purchasers Value)


Y/Y % Change
Oil Sector as % of GDP

34,909
-5.4%
42.9%

38,118
9.2%
38.1%

47,831
25.5%
40.7%

59,268
23.9%
44.8%

80,779
36.3%
54.4%

Revised.

Provisional.

* Includes Petroleum Rening.


Note: Figures may not add to total due to rounding.
Source: Central Bank of Kuwait, Quarterly Statistical Bulletin, April - June 2006.

Domestic Liquidity (M2) (Year-end)


US$ millions
Growth Rate%
Source : Central Bank of Kuwait, Quarterly Statistical Bulletin, April - June 2006.

2001

2002

2003

2004

2005

30,044
12.9%

31,742
5.7%

34,903
10.0%

39,549
13.3%

44,816
13.3%

2000

2001

2002

2003

2004

2005 YTD

0.3067

0.3065

0.3039

0.2980

0.2947

0.2920

2000

2001

2002

2003@

2004P

2,609

2,215

2,986

3,612

4,461

Government Revenues and Expenditures (mn US$)

Oil Revenue
Other Receipts
Total Revenues
Wages and Salaries
Requirements of goods and Services
Transport and Equipment
Projects and Land purchase
Miscellaneous Exp. and Transfer payment
Total Expenditure
Decit/Surplus
Decit/Surplus as % of GDP
Total Revenues Y/Y % Change
Oil Revenue per Capita (US$)
Non Oil Revenue per Capita (US$)

2001/02*

2002/03

2003/04

2004/05

2005/06

Budget**
2006/07

14,763
2,648
17,411

18,093
2,371
20,464

20,637
2,639
23,276

27,725
2,687
30,412

44,368
2,646
47,014

26,761
2709
29,470

4,801
1,780
79
1,325
7,501

5,072
1,915
78
1,518
7,630

5,493
2,243
136
1,911
8,750

5,953
2,953
151
2,302
10,071

6,613
3,623
201
2,570
10,493

7,852
4,943
458
4,362
19,971

15,486

16,214

18,533

21,429

23,500

37,586

1,926
5.5%
7.5%
6,394
1,147

4,250
11.1%
17.5%
7,476
980

4,743
9.9%
13.7%
8,104
1,036

8,983
15.2%
30.7%
10,071
976

23,514
29.1%
54.6%
14,834
885

-8,116
n.a.
-37.3%
n.a.
n.a.

2000/01

2001/02

2002/03

2003/04

Budget**
2004/05

Budget**
2005/06

2000

2001

2002

2003

2004

6,504

9,191

8,357

6,640

7,347

*
**

* Starting in 2001, scal years span from 1st April to 31st March.
** Revenues are based on below market oil prices.
Source: Central Bank of Kuwait, Quarterly Statistical Bulletin, April - June 2006.

Reserves* (mn US$)


Total Reserves minus Gold
SDRs
Foreign Exchange **
Reserve Position in the I.M.F.
Gold (National Valuation)
Total Reserves

2001

2002

2003

2004

2005

9,897
108
9,191
598
103
10,000

9,208
133
8,357
718
106
9,314

7,577
160
6,640
777
108
7,685

8,242
182
7,347
713
108
8,350

8,863
184
8,380
299
109
8,972

* Excludes the Reserve Fund for Future Generations (RFFG) and the General Reserve Fund (GRF).
** Includes monetary authorities' claims on non-residents in the form of foreign bank notes, bank deposits, treasury bills, short and long term government securities
and other claims usable in the event of balance of payments need.
Source: IMF, IFS, November 2006.

Gulf Investment Corporation GCC Economic Statistics Sixth Edition 2006

26 | 27

and long term government securities

Kuwait
Domestic Public Debt (mn US$)
Debt *
As % of GDP

2001

2002

2003

2004

2005

2000

2001

2002

2003

2004

11,099
31.8%

10,689
28.0%

10,236
21.4%

9,332
15.7%

8,435
10.4%

11,828

11,099

10,689

10,236

9,332

* Does not include Government Debt Bonds issued to non-banks following the 1991 liberation, except for Kuwait Finance House.
Source: Central Bank of Kuwait, Quarterly Statistical Bulletin, April - June 2006.

External Debt* (mn US$)


Debt **
of which: Short-term

2001

2002

2003

2004

2005

2000

2001

2002

2003

2004

8,468
5,240

9,976
4,901

12,126
5,863

14,028
6,616

17,521
7,320

7,954

8,468

9,976

12,107

13,961

2000

2001

2002

2003

2004

* Of both public and private borrowers.


** Bank loans, debt securities issued abroad and non-bank trade credits (ofcial and ofcially guaranteed).
Source: Joint BIS-IMF-OECD-World Bank External Debt Database, August 2006, (www.oecd.org).

Population (Year-end) ('000)


Kuwaitis
% of Population
Non-Kuwaitis
% of Population
Total Population
Source: Public Authority for Civil Information, Population Statistics, June 2006.

2001

2002

2003

2004

2005

870
38%
1,439
62%
2,309

898
37%
1,522
63%
2,420

928
36%
1,619
64%
2,547

956
35%
1,797
65%
2,753

992
33%
1,999
67%
2,991

Labor Force ('000)

Labor Force ('000)

Public Sector
Kuwaitis
% of Public Sector
Non-Kuwaitis
% of Public Sector
Private Sector
Kuwaitis
% of Private Sector
Non-Kuwaitis
% of Private Sector
Total Labor Force
% of Kuwaitis
% of Non-Kuwaitis

2001

2002

2003

2004

2005

313
229
73%
84
27%
944
15
2%
929
98%

331
239
72%
92
28%
1,033
27
3%
1,006
97%

336
250
74%
86
26%
1,130
36
3%
1,094
97%

350
261
75%
89
25%
1,284
38
3%
1,246
97%

370
276
75%
94
25%
1,445
43
3%
1,401
97%

Public Sector
Kuwaitis
% of Public Sector
Non-Kuwaitis
% of Public Sector
Private Sector
Kuwaitis
% of Private Sector
Non-Kuwaitis
% of Private Sector

1,257
19%
81%

1,364
20%
80%

1,466
20%
80%

1,634
18%
82%

1,815
18%
82%

Total Labor Force


% of Kuwaitis
% of Non-Kuwaitis

2000

2001

2002

2003

2004

305
221
72%
84
28%
899
14
2%
885
98%

313
229
73%
84
27%
944
15
2%
929
98%

331
239
72%
92
28%
1,033
27
3%
1,006
97%

336
250
74%
86
26%
1,130
36
3%
1,094
97%

350
261
75%
89
25%
1,284
38
3%
1,246
97%

1,204
20%
80%

1,257
19%
81%

1,364
20%
80%

1,466
20%
80%

1,634
18%
82%

Source: Public Authority for Civil Information, Labor Force Statistics (www.paci.gov.kw), 2006.

Source: Public Authority for Civil Information, Labor Force Statistics (www.paci.gov.kw), 2005.

Consumer Price Index (Y/Y % Change)

Consumer Price Index (Y/Y % Change)


2001

2002

2003

2004

2005

2000

2001

2002

2003

2004

1.67

1.36

0.98

1.26

4.11

1.80

1.67

1.36

0.98

1.26

Source: Central Bank of Kuwait, Quarterly Statistical Bulletin, April - June 2006.

Gulf Investment Corporation GCC Economic Statistics Sixth Edition 2006

Source: Central Bank of Kuwait, Quarterly Statistical Bulletin, April - June 2005.

28 | 29

Kuwait

Kuwait

Interest Rates (Average Annual %)


Deposit Rate
Lending Rate

Interest Rates (Average Annual %)


2001

2002

2003

2004

2005

4.47
7.88

3.15
6.48

2.42
5.42

2.65
5.64

3.47
7.50

Deposit Rate
Lending Rate

Source: IMF, IFS, September 2006.

Source: IMF, IFS, September 2005.

Stock Market (Year End) (mn US$)

Stock Market (Year End) (mn US$)

Total Market Capitalization


GIC Kuwait Index (Y/Y % Change)

2001

2002

2003

2004

2005

26,731
44.8

34,682
26.9

61,181
62.4

73,581
13.5

128,101
84.5

Source : Kuwait Stock Exchange (www.kuwaitse.com) and GIC Equity Research.

Total Market Capitalization


GIC Kuwait Index (Y/Y % Change)

2000

2001

2002

2003

2004

5.89
8.87

4.47
7.88

3.15
6.48

2.42
5.42

2.65
5.64

2000

2001

2002

2003

2004

19,790

26,731

34,682

61,181

73,581

14.4

44.8

26.9

62.4

13.5

Source: Central Bank of Kuwait, Quarterly Statistical Bulletin, January-March 2002, Kuwait Stock Exchange Monthly Report of various issues up to December 2004
and GIC Equity Research.

Average Oil Production* (mn b/d)

Average Oil Production* (mn b/d)


2001

2002

2003

2004

2005

2000

2001

2002

2003

2004

1.947

1.746

2.108

2.289

2.573

1.996

1.947

1.746

2.108

2.289

* Includes share of production from Neutral Zone.

Source: OPEC Annual Statistical Bulletin 2005.

Source: OPEC Annual Statistical Bulletin 2004.

Crude Oil Prices (Year Average) (US$/bl)

Crude Oil Prices (Year Average) (US$/bl)

Source: OPEC Annual Statistical Bulletin 2005.

Includes share of production from Neutral Zone.

2001

2002

2003

2004

2005

2000

2001

2002

2003

2004

21.37

23.61

26.89

34.08

48.66

25.78

21.37

23.61

26.89

34.08

Source: OPEC Annual Statistical Bulletin 2004.

Balance of Payments (mn US$)@


2005 P

2001

2002

2003

2004

Current Transfers, net

16,238
7,046
9,192
-3,691
4,901
-2,077

15,366
8,124
7,242
-4,189
3,343
-2,146

21,794
9,882
11,912
-3,473
3,356
-2,379

30,221
10,920
19,301
-4,269
6,399
-2,549

46,873
15,671
31,202
-4,147
8,832
-3,260

Current Account
Current Account % of GDP

8,324
23.8%

4,251
11.2%

9,416
19.7%

18,884
31.9%

32,627
40.4%

Capital Account, net


Financial Account, net **
of which: Portfolio Investment Assests
Net Errors and Omissions

2,931
-6,313
-8,724
-2,038

1,672
-5,163
-3,228
-1,733

1,429
-11,942
-13,376
-727

434
-20,048
-13,926
1,355

798
-28,137
-7,699
-4,723

2,905

-973

-1,824

626

565

Total Exports
Total Imports
Trade Balance
Net Services
Net Income *

Overall Balance

2001

2002

2003

2004

6,699

4,901

3,343

3,356

6,399

-13,773

-6,313

-5,163

-11,942

-19,820

hange rate differences.


rity, Kuwait Petroleum
Bank of Savings and Credit),

Balance of payments totals do not correspond to the gures of Capital and Financial Accounts table on the next page due to exc hange rate differences.

Provisional.

* Net investment income from overseas, which includes general government income from external investments (Kuwait Investment Autho
Corporation, Public Authority for Social Security, Kuwait Fund for Arab Economic Development, Kuwait Airways Corporation and the

rity, Kuwait Petroleum

Bank of Savings and Credit),

and income of local banks and other companies and institutions.

xporting country. In the case of

** The net sum of the balance of direct investment, portfolio investment, other investment transactions and nancial derivatives.
Notes:

Negative signs indicate outows while positive signs indicate inows.

Exports and imports are both measured on a "free-on-board" (f.o.b.) basis which is the value of goods at the border of the exporting country. In the case of
imports, this excludes the cost of freight and insurance incurred beyond the border of the exporting country.

2000

Figures may not add to total due to rounding.

Source: IMF, IFS, November 2006 and Central Bank of Kuwait, Quarterly Statistical Bulletin, April - June 2006.

Gulf Investment Corporation GCC Economic Statistics Sixth Edition 2006

30 | 31

Kuwait
Capital and Financial Account (mn US$)@
Capital and Financial Account
Capital Account
Financial Account
Direct Investment, net
Direct Investment abroad
Foreign Direct Investment in Kuwait
Portfolio Investment, net
Assets
Liabilities
Other Investments, net
Assets
Liabilities
@

2001

2002

2003

-2,718
2,930
-5,648
1,804
1,915
-111
-8,724
-8,646
-78
1,272
209
1,064

-3,370
1,672
-5,041
79
76
3
-3,228
-3,389
161
-1,892
-3,751
1,859

-10,678
1,430
-12,107
4,896
4,963
-67
-13,376
-13,711
336
-3,628
-3,389
-238

2004*

-16,390
434
-16,824
-2,504
-2,528
24
-13,926
-14,214
288
-394
-288
-105

2005

2000

2001

2003*

2002

2004

-27,339
798
-28,137
-4,459
-4,709
250
-7,699
-7,158
-541
-15,979
-20,233
4,253
e to exchange rate differences.

Capital and Financial Accounts do not correspond to the gures of Balance of Payments table on the previous page due to exchange rate differences.

* Revised.
Note:

Negative signs indicate outows, while positive signs indicate inows.

Figures may not add to total due to rounding.

Source: Central Bank of Kuwait, Quarterly Statistical Bulletin, April - June 2006.

Foreign Direct Investment* (mn US$)


(1)

Inward Flow
Outward Flow (2)
Inward Stock (3)
Outward Stock

2001

2002

2003

2004

2005

-111
-1,915
498
617

3
-76
501
728

-67
-4,962
434
766

24
2,528
458
1,412

250
4,709
708
5,403

* Negative sign means that at least one of the FDI components is negative and is not offset by positive amounts of other componen
(1)

Includes only new equity investment and does not include reinvestment of capital and intra-company loans.

(2)

Includes only equity investments.

(3)

Estimated by accumulating ows since 1970.

Source: UNCTAD, World Investment Report 2006.

ts.

2000

2001

2002

2003

2004

16
-303
608
1,427

-147
365
380
1,793

7
-155
468
1,635

67
-4,989
535
1,603

20
-1,873
381
n.a.

ts.

Main Destinations of Exports (f.o.b.)

2000

2001

2002

2003

2004

Main Destinations of Exports (f.o.b.)


Partner

Value (mn US$)

% of Exports

Japan
USA
Korea
Japan
Korea
USA
Japan
Korea
USA
Japan
Korea
USA
Japan
Korea
USA

4,525
2,698
2,469
3,435
2,046
2,010
3,825
2,028
1,866
4,148
2,458
2,253
5,228
3,484
3,157

25%
15%
14%
21%
13%
12%
25%
13%
12%
21%
13%
12%
18%
12%
11%

Main Origins of Imports (c.i.f.)

2001

2002

2003

2004

2002

2003

2004

2005

Value (mn US$)

% of Exports

Japan
Korea
USA

3,435
2,046
2,010

21%
13%
12%

Japan
Korea
USA
Japan
Korea
USA
Japan
Korea
USA
Japan
Korea
USA

3,825
2,028
1,866
4,148
2,458
2,253
5,228
3,484
3,157
6,934
5,434
4,195

18%
9%
9%
19%
11%
10%
17%
12%
10%
15%
12%
9%

Partner

Main Origins of Imports (c.i.f.)


Partner

2000

2001

Partner

USA
Japan
UK
USA
Germany
Japan
USA
Japan
Germany
USA
Japan
Germany
USA
Germany
Japan

f.o.b.: The value of goods at the border of the exporting country.

Value (mn US$)

% of Imports

893
642
574
996
735
643
1,116
952
830
1,660
1,157
1,076
1,671
1,551
1,029

16%
11%
10%
14%
11%
9%
12%
11%
9%
15%
11%
10%
14%
13%
9%

2001

2002

2003

2004

2005

Value (mn US$)

% of Imports

USA
Germany
Japan
USA
Japan
Germany
USA
Japan
Germany
USA
Germany
Japan

996
735
643
1,116
952
830
1,660
1,157
1,076
1,671
1,551
1,029

14%
11%
9%
14%
12%
10%
17%
12%
11%
15%
14%
9%

USA
Germany
Japan

2,172
1,661
1,296

14%
11%
8%

f.o.b.: The value of goods at the border of the exporting country.

c.i.f.: The value of goods, including the cost of freight and insurance, at the border of the importing country.

c.i.f.: The value of goods, including the cost of freight and insurance, at the border of the importing country.

Source : IMF, Direction of Trade Statistics, various issues through September 2005.

Note: Share of trade partners for previous years have been adjusted to reect revisions made on total imports for concerned years.
Source : IMF, Direction of Trade Statistics, various issues through September 2006.

Gulf Investment Corporation GCC Economic Statistics Sixth Edition 2006

32 | 33

Kuwait

Kuwait

Trade with GCC Countries* (mn US$)

Trade with GCC Countries* (mn US$)

Exports to

Bahrain
Oman
Qatar
Saudi Arabia
United Arab Emirates
Imports from

Bahrain
Oman
Qatar
Saudi Arabia
United Arab Emirates

2001

2002

2003

2004

2005

15
23
15
94
95

16
21
14
89
95

19
24
15
99
106

25
36
26
186
186

35
48
34
248
247

2001

2002

2003

2004

2005

62
25
1
594
303

64
24
10
560
285

71
26
11
623
318

92
56
85
718
366

117
75
113
952
485

* Discrepancies in trade statistics are caused by: Classication concepts and details, time of recording, valuation, coverage and
Source : IMF, Direction of Trade Statistics, various issues through September 2006.

processing errors.

Exports to

Bahrain
Oman
Qatar
Saudi Arabia
United Arab Emirates
Imports from

Bahrain
Oman
Qatar
Saudi Arabia
United Arab Emirates
*

2000

2001

2002

2003

2004

14
23
15
97
78

15
23
15
94
95

16
21
14
89
95

19
24
15
99
106

25
36
26
186
186

2000

2001

2002

2003

2004

62
26
11
612
312

62
25
1
594
303

64
24
10
560
285

71
26
11
623
318

92
56
85
718
366

Discrepancies in trade statistics are caused by: Classication concepts and details, time of recording, valuation, coverage and processing errors.

Source : IMF, Direction of Trade Statistics, various issues through September 2005.

Oman

35

Bn US$

30
25
20
15
10
5
0

2001

2002

2003

2004

2005

OMAN 2005 GDP BY MAIN ACTIVITIES (Mn US$)

Oil Sector
Agriculture and Fishing
Manufacturing
Construction
Wholesale and Retail Trade
Hotels and Restaurant

Transport, Storage and Communication


Financial Institutions
Real Estate Business Activiaties
Public Administration and Defence
Others

12000
10000
8000
6000
4000
2000
0

2001

2002

2003

2004

2005

2001

2002

2003

2004

2005

2.0
1.5
1.0
0.5
0.0
-0.5
-1.0

Gulf Investment Corporation GCC Economic Statistics Sixth Edition 2006

36 | 37

Oman
Gross Domestic Product at Current Prices (mn US$)
2005P

2001

2002

2003

2004

8,490
8,077
413

8,502
8,066
436

8,905
8,354
551

10,445
9,800
645

15,074
13,979
1,095

Financial Institutions Services Indirectly Measured


Import Taxes

11,847
409
54
1,661
207
415
2,295
148
1,300
745
1,126
1,971
1,517
-540
152

12,235
412
43
1,572
205
444
2,424
154
1,392
838
1,133
2,008
1,609
-590
157

13,297
432
36
1,873
280
505
2,585
157
1,506
876
1,160
2,126
1,761
-588
169

14,763
422
42
2,020
370
757
3,058
180
1,733
902
1,173
2,229
1,876
-615
185

16,099
447
47
2,603
385
772
3,168
216
1,815
986
892
2,268
2,499
-671
231

GDP
Y/Y % Change
Oil Sector as % of GDP

19,949
0.4%
42.6%

20,304
1.8%
41.9%

21,783
7.3%
40.9%

24,778
13.7%
42.2%

30,733
23.8%
49.0%

Oil Sector:
Crude Oil
Natural Gas
Non-Oil Sector
Agriculture and Fishing
Mining and Quarrying
Manufacturing
Electricity and Water
Construction
Wholesale and Retail Trade
Hotels and Restaurants
Transports, Storage and Communication
Financial Institutions
Real Estate and Business Activities
Public Administration and Defense
Education, health and other services*

Provisional.

* Includes other community services, social, personal services and private household with employed persons.
Source: Central Bank of Oman, Quarterly Statistical Bulletin, June 2006 and Ministry of National Economy, Monthly Statistical Bulletin, July 2006.

Domestic Liquidity (M2) (Year-end)


US$ millions
Growth Rate%
Source : Central Bank of Oman, Quarterly Statistical Bulletin, June 2006.

2001

2002

2003

2004

2005

6,828
9.2%

7,186
5.2%

7,363
2.5%

7,657
4.0%

9,293
21.4%

2000 - 2005 YTD

0.3845

Government Revenues and Expenditures (mn US$)

Revenues
Oil (net)
Gas
Other *
Expenditures
Current
Defense & National Security
Civil Ministries
Interest on loans
P.D.O**
Investment
Civil Ministries
P.D.O.
Gas Exploration
Participation & Subsidiaries to Private Sector
Decit/Surplus
Decit/Surplus as % of GDP
Total Revenue Y/Y % Change
Oil Revenue per Capita (US$)
Non-Oil Revenue per Capita (US$)
P

Budget@
2006

2001

2002

2003

2004

2005

6,605
4,876
191
1,538
7,439
5,690
2,427
2,799
245
219
1,447
898
516
33
301

7,827
5,723
199
1,905
7,645
5,914
2,491
2,988
182
253
1,526
953
524
49
205

8,596
6,024
226
2,346
8,294
6,172
2,626
3,080
156
310
1,821
1,109
629
82
301

10,507
7,555
653
2,299
9,829
6,921
2,974
3,392
193
361
2,611
1,163
669
780
296

11,901
8,393
1,025
2,484
11,113
8,268
3,651
3,984
174
458
2,515
1,303
650
562
330

9,329
6,551
1,025
1,753
11,020
7,540
3,238
3,597
195
510
2,887
1,020
817
1,051
593

-833
4.2%
10.9%
1,968
698

182
0.9%
18.5%
2,310
849

303
1.4%
9.8%
2,431
1,038

679
2.7%
22.2%
3,049
1,191

788
2.6%
13.3%
3,387
1,416

-1,691
n.a.
-21.6%
n.a.
n.a.

Revenues
Oil (net)
Gas
Other*
Expenditures
Current
Defense & National Security
Civil Ministries
Interest on loans
P.D.O**
Investment
Civil Ministries
P.D.O.
Gas Exploration
Participation & Subsidiaries to Private Sector
Decit/Surplus
Decit/Surplus as % of GDP
P

*
**
@

Provisional.

* Includes customs duties, corporate income taxes and capital repayments.


** Government's share in current expenditure of Petroleum Development of Oman Co. (P.D.O.).
@

Government Revenues and Expenditures (mn US$)


2001

2002

2003

2004

5,956
4,476
191
1,289
6,908
5,441
2,103
2,855
279
204
1,279
760
497
22
189
-953
4.8%

6,605
4,876
191
1,538
7,439
5,690
2,427
2,799
245
219
1,447
898
516
33
301
-833
4.2%

7,827
5,723
199
1,905
7,645
5,914
2,491
2,988
182
253
1,526
953
524
49
205
182
0.9%

8,596
6,024
226
2,346
8,294
6,172
2,626
3,080
156
310
1,821
1,109
629
82
301
303
1.4%

10,508
6,960
276
3,272
9,909
6,921
2,974
3,392
193
361
2,691
1,296
669
726
296
599
2.4%

8,166
5,308
710
2,148
9,571
7,144
2,986
3,527
195
437
2,255
986
835
434
172
-1,404
n.a.

Provisional.
Includes customs duties, corporate income taxes and capital repayments.
Government's share in current expenditure of Petroleum Development of Oman Co. (P.D.O.).
Revenues are based on below market oil prices.

Note: Totals may not add up due to rounding.


Source: Central Bank of Oman, Monthly Statistical Bulletin, June 2005 and Ministry of Finance website (www.mof.gov.com).

Revenues are based on below market oil prices.

Note: Figures may not add to total due to rounding.


Source : Central Bank of Oman, Monthly Statistical Bulletin, August 2006 and Ministry of Finance website (www.mof.gov.com).

Gulf Investment Corporation GCC Economic Statistics Sixth Edition 2006

2000

Budget@
2005

38 | 39

Oman
Reserves (mn US$)
Total Reserves minus Gold
SDRs
Foreign Exchange*
Reserve Position in the I.M.F.
Gold (National valuation)
Total Reserves

2001

2002

2003

2004

2005

2,365
6
2,277
82
81
2,446

3,174
9
3,065
100
@
3,174

3,594
12
3,467
115
@
3,594

3,597
14
3,484
99
@
3,598

4,358
15
4,309
34
@
4,358

* Includes monetary authorities' claims on non-residents in the form of foreign bank notes, bank deposits, treasury bills, short

2000

2001

2002

2003

2004

2,311

2,277

3,065

3,467

3,484

and long term government securities,

and long term government securities,

and other claims usable in the event of balance of payments need.


@

Less than a million.

Source: IMF, IFS, November 2006.

Domestic Public Debt (mn US$)


Debt
As % of GDP
P

2000

2001

2002

2003

2004P

1,139
3.7%

1,020
5.1%

1,621
8.1%

1,116
5.5%

1,277
5.9%

1,381
5.6%

2004

2005

2000

2001

2002

2003

2004

4,418
1,259

5,958
1,509

4,452

4,252

3,943

3,564

4,262

2001

2002

2003

2004

2,226
11.2%

1,808
8.9%

2,042
9.4%

2,172
8.7%

2001

2002

2003

4,252
1,737

3,943
1,512

3,575
1,352

2005 P

Provisional.

Source: IMF, IFS, November 2006 and Central Bank of Oman, Annual Report 2005.

External Debt* (mn US$)


Debt **
of which : Short-term

* Of both public and private borrowers.


** Bank loans, debt securities issued abroad, non-bank trade credits (ofcial and ofcially guaranteed), multilateral claims and ofcial bilateral loans (Development
Assistance Committee creditors)
Source: Joint BIS-IMF-OECD-World Bank Statistics on External Debt, June 2006 (www.oecd.org).

official bilateral loans (DAC creditors)

Population* ('000)
2001

2002

2003

2004

2005

Omanis
% of Total Population

1,826
74%

1,870
74%

1,782
76%

1,803
75%

1,843
73%

Non-Omanis
% of Total Population

652
26%

668
26%

559
24%

613
25%

666
27%

2,478

2,538

2,341

2,416

2,509

Total Population

2000

2001

2002

2003

2004

* Mid-year estimates.
Source: Ministry of National Economy, Monthly Statistical Bulletin, July 2006.

Labor Force ('000)


Government Civil Employees *
Omanis
% of Government Sector
Non-Omanis
% of Government Sector
Private Sector Employees
Omanis**
% of Private Sector
Non-Omanis
% of Private Sector
Total Labor Force
Omanis
% of Total Labor Force
Non-Omanis
% of Total Labor Force

2001

2002

2003

2004

2005

2000

2001

2002

2003

2004

114
87
76%
27
24%
590
60
10%
530
90%
705
148
21%
557
79%

119
93
79%
25
21%
613
66
11%
547
89%
732
159
22%
573
78%

123
99
80%
24
20%
482
75
16%
407
84%
605
174
29%
431
71%

127
104
82%
23
18%
511
87
17%
424
83%
638
191
30%
447
70%

132
109
83%
23
17%
522
99
19%
423
81%
654
208
32%
446
68%

110

114

119

123

127

56

60

66

75

87

* Includes only public corporation employees, Diwan of Royal Court and Ministry of Civil Service.
** Omanis working in the private sector and registered with Public Authority for Social Insurance.
Note: Figures may not add to total due to rounding.
Source : Central Bank of Oman, Annual Report 2005.

Gulf Investment Corporation GCC Economic Statistics Sixth Edition 2006

40 | 41

Oman

Oman

Consumer Price Index (Y/Y % Change)

Consumer Price Index (Y/Y % Change)


2001

2002

2003

2004

2005

-0.4

-0.2

-0.6

0.4

1.9

Source: Central Bank of Oman, Monthly Statistical Bulletin, August 2006.

Source: Central Bank of Oman, Monthly Statistical Bulletin, June 2005.

Interest Rates (Average Annual %)

Interest Rates (Average Annual %)

Deposit Rate
Lending Rate

2001

2002

2003

2004

2005

4.50
9.23

2.89
8.55

2.37
8.23

2.32
7.57

3.30
7.01

Source: IMF, IFS, September 2005.

Stock Market* (mn US$)

Stock Market* (mn US$)

Total Market Capitalization


GIC Oman Index (y/y % change)

2002

2003

2004

2005

4,479
-37.4

5,160
54.7

7,256
62.9

9,329
36.3

15,287
48.2

2002

2003

2004

2005

-0.4

-0.2

-0.6

0.4

2001

Deposit Rate
Lending Rate

Source: IMF, IFS, November 2006.

2001

2001

-1.4

7.63
10.06

2001

Total Market Capitalization


GIC Oman Index (y/y % change)

* Year-end data.

Source: Central Bank of Oman, Annual Report 2005 and GIC Equity Research.

Year-end data.
Revised

Source: Central Bank of Oman, Annual Report 2004 and GIC Equity Research.

5,066
-9.9

2002

4.50
9.23

2002

4,479
-37.4

2003

2.89
8.55

2003

5,160
54.7

2004

2.37
8.23

2004 @

7,256
62.9

2005

2.32
7.57

2005

9,329
36.3

Oil Prices (Year Average) (US$/bl)

Oil Prices (Year Average) (US$/bl)


2001

2002

2003

2004

2005

2000

2001

2002

2003

2004

23.00

24.29

27.84

34.42

50.26

26.71

23.00

24.29

27.84

34.42

2000

2001

2002

2003

2004

350
955

350
956

327
897

299
820

285
780

2000

2001

2002

2003

2004

16
-2
2,490
23

83
-1
2,543
22

23
0
2,597
22

138
-1
2,735
21

18
n.a.
3,432
32

Source: Ministry of National Economy, Monthly Statistical Bulletin, July 2006.

Source: Ministry of National Economy, Monthly Statistical Bulletin, June 2005.

Oil Production

Oil Production

Annual Production (mn bl)


Average Daily ('000/bl)

2001

2002

2003

2004

2005

350
956

327
897

299
820

285
780

283
774

Annual Production (mn bl)


Average Daily ('000/bl)

Source: Ministry of National Economy, Monthly Statistical Bulletin, July 2006.

Source: Ministry of National Economy, Monthly Statistical Bulletin, June 2005.

Foreign Direct Investment (mn US$)

Foreign Direct Investment (mn US$)

Inward Flow*
Outward Flow
Inward Stock (1)
Outward Stock (2)

2001

2002

2003

2004

2005

5
-1
2,512
33

109
0
2,621
33

489
153
3,110
186

200
250
3,310
436

715
44
4,025
480

Inward*
Outward
Inward Stocks (1)
Outward Stocks (2)

* FDI inward contain two components: equity capital and reinvested earnings but not intra-company loans.

(1)

Estimated by accumulating ows since 1970.

(1)

Estimated by accumulated ows since 1975.

(2)

Estimated by accumulating ows since 1985.

(2)

Estimated by using the inward stock of the United States as a proxy and accumulated ows since 1993.

Source: UNCTAD, World Investment Report 2006.

FDI inward contain two components: equity capital and reinvested earnings but not intra-company loans.

Source: UNCTAD, World Investment Report 2005.

Gulf Investment Corporation GCC Economic Statistics Sixth Edition 2006

42 | 43

Oman

Oman

Balance of Payments (mn US$)

Balance of Payments (mn US$)


P

2001

2002

2003

2004

2005

Current Account
Current Account as% of GDP

2,081
10.4%

1,943
9.6%

1,485
6.8%

570
2.3%

4,715
15.3%

Trade Balance
Exports
Oil
Natural Gas
Other Exports
Re-export
Imports
Services
Income
Income (Credit)
Compensation of Employees
Other Investment Income
Income (Debit)
Direct Investment Income
Other Investment Income
Current Transfers
Capital and Financial Account
Capital Account
Financial Account
Foreign Direct Investment in Oman
Portfolio Investment
Other Investment
Net Errors & Omissions
Overall Balance

5,763
11,074
7,706
1,173
692
1,503
-5,311
-1,293
-858
307
39
268
-1,165
-986
-179
-1,532
-512
-10
-502
5
81
-588
-557
1,012

5,537
11,173
7,534
1,069
679
1,891
-5,636
-1,272
-720
242
39
203
-962
-796
-166
-1,602
-791
5
-796
109
-78
-827
-837
315

5,584
11,670
7,922
1,394
791
1,563
-6,086
-1,534
-892
244
39
205
-1,137
-1,030
-107
-1,672
-299
10
-309
336
-68
-577
-518
668

5,508
13,381
9,241
1,649
1,092
1,399
-7,873
-2,031
-1,082
260
39
221
-1,342
-1,199
-143
-1,826
606
21
585
-49
86
549
-661
515

10,663
18,692
13,420
2,309
1,443
1,519
-8,029
-2,231
-1,459
403
39
364
-1,862
-1,667
-195
-2,257
-996
-16
-980
671
-107
-1,545
-939
2,780

Provisional.

Notes:

Negative signs indicate outflows while positive signs indicate inflows.

Current Account
Trade Balance
Exports
Oil
Natural Gas
Other Exports
Re-export
Imports
Services
Income
Income (Credit)
Compensation of employees
Other Investment Income
Income (Debit)
Direct Investment Income
Other Investment Income
Current Transfers
Capital and Financial Account
Capital Account
Financial Account
Direct Investment in Oman
Portfolio Investment (Liabilities)
Other Investment
Net Errors & Omissions
Overall Balance
Foreign Exchange in the Central Bank*
Government Reserves
P

2000

2001

2002

2003

2004P

3,264
6,726
11,319
8,910
466
645
1,298
-4,593
-1,316
-694
291
39
252
-986
-674
-312
-1,451
-640
8
-648
16
-36
-627
-364
-2,260
346
-2,606

2,010
5,763
11,074
7,706
1,173
692
1,503
-5,311
-1,545
-676
322
39
283
-999
-739
-260
-1,532
-705
-10
-694
83
13
-791
-294
-1,012
-21
-991

1,774
5,537
11,173
7,534
1,069
679
1,891
-5,636
-1,415
-746
250
39
211
-996
-824
-172
-1,602
-1,142
5
-1,147
23
-18
-1,152
-317
-315
-650
336

882
5,584
11,670
7,922
1,394
791
1,563
-6,086
-1,527
-1,503
247
39
208
-1,750
-1,644
-130
-1,672
-270
10
-281
528
55
-863
57
668
-291
-377

442
5,472
13,345
9,241
1,612
1,092
1,399
-7,873
-1,909
-1,295
260
39
221
-1,555
-1,425
-107
-1,826
1,007
21
986
-18
276
728
-934
515
60
-575

Provisional.
Includes reserve position in the IMF and SDR holding.

Exports and imports are both measured on a "free-on-board" (f.o.b.) basis which is the value of goods at the border of the exporting country. In the case of

Notes:

imports, this excludes the cost of freight and insurance incurred beyond the border of the exporting country.

Negative signs indicate outflows while positive signs indicate inflows.

Exports and imports are both measured on a "free-on-board" (f.o.b.) basis which is the value of goods at the border of the exporting country. In the case of

Source: Central Bank of Oman, Quarterly Statistical Bulletin, June 2006.

imports, this excludes the cost of freight and insurance incurred beyond the border of the exporting country.
Source: Central Bank of Oman, Quarterly Statistical Bulletin, June 2005.

Main Destinations of Exports (f.o.b.)


Partner

Value (mn US$)

% of Exports

2001

China
Japan
Korea

2,726
2,239
2,101

25%
20%
19%

2002

Japan
Korea
China

1,910
1,723
1,272

17%
15%
11%

2003

Japan
Korea
China

2,285
2,089
1,805

20%
18%
15%

2004

China
Korea
Japan

3,789
2,250
1,476

28%
17%
11%

2005

China
Korea
Japan

3,766
3,368
2,475

20%
18%
13%

Partner

Value (mn US$)

% of Imports

UAE
Japan
UK

1,655
878
478

31%
17%
9%

UAE
Japan
UK
UAE
Japan
UK

1,561
945
421
1,737
1,065
477

28%
17%
7%
29%
18%
8%

UAE
Japan
UK
UAE
Japan
UK

1,632
1,278
649
2,167
1,523
747

21%
16%
8%
27%
19%
9%

Main Origins of Imports (c.i.f.)

2001

2002

2003

2004

2005
f.o.b.: The value of goods at the border of the exporting country.

c.i.f.: The value of goods, including the cost of freight and insurance, at the border of the importing country.
Note: Share of trade partners for previous years have been adjusted to reect revisions made on total imports for concerned years.
Source : IMF, Direction of Trade Statistics, various issues through September 2006.

Gulf Investment Corporation GCC Economic Statistics Sixth Edition 2006

44 | 45

Oman

Oman

Trade with GCC Countries* (mn US$)

Trade with GCC Countries* (mn US$)

Exports to

Bahrain
Kuwait
Qatar
Saudi Arabia
United Arab Emirates
Imports from

Bahrain
Kuwait
Qatar
Saudi Arabia
United Arab Emirates

2001

2002

2003

2004

2005

15
27
16
188
781

16
26
15
181
1,008

19
29
19
198
769

28
51
40
146
930

38
68
53
194
1,234

2001

2002

2003

2004

2005

28
25
8
200
1,655

29
24
7
189
1,561

32
26
8
210
1,737

173
40
30
258
1,632

221
53
40
343
2,167

* Discrepancies in trade statistics are caused by: Classication concepts and details, time of recording, valuation, coverage and
Source : IMF, Direction of Trade Statistics, various issues through September 2006.

processing errors.

Exports to

Bahrain
Kuwait
Qatar
Saudi Arabia
United Arab Emirates
Imports from

Bahrain
Kuwait
Qatar
Saudi Arabia
United Arab Emirates
*

2000

2001

2002

2003

2004

14
28
16
163
778

15
27
16
188
781

16
26
15
181
1,008

19
29
19
198
769

28
51
40
146
930

2000

2001

2002

2003

2004

28
26
8
207
1,706

28
25
8
200
1,655

29
24
7
189
1,561

32
26
8
210
1,737

173
40
30
258
1,632

Discrepancies in trade statistics are caused by: Classication concepts and details, time of recording, valuation, coverage and processing errors.

Source : IMF, Direction of Trade Statistics, various issues through September 2005 and Oman Central Bank Annual Report 2004.

Qatar

50

Bn US$

40
30
20
10
0

2001

2002

2003

2004

2005

QATAR 2005 GDP BY MAIN ACTIVITIES (Mn US$)

Oil and Gas


Manufacturing
Electricity and Water
Construction
Trade
Restaurant and Hotels

Transport and Communication


Banks
Services (Business and Others)
Real Estate
Others

20

Bn US$

15
10
5
0

2001

2002

2003

2004

2005

2001

2002

2003

2004

2005

10
8
6
4
2
0

Gulf Investment Corporation GCC Economic Statistics Sixth Edition 2006

48 | 49

Qatar

Qatar

Gross Domestic Product at Current Prices (mn US$)

Qatari Riyal (QR) Exchange Rate*


2004 @

2005P

2001

2002

2003

Oil and Gas


Agriculture and Fishing
Manufacturing
Electricity and Water
Construction
Trade
Restaurants and Hotels
Transport and Communications
Bank
Insurance and Exchange Agencies
Real Estate
Business Services
Other Services

10,113
66
1,074
119
807
955
121
611
530
80
646
171
2,245

11,186
50
1,395
112
987
959
131
684
669
71
673
181
2,266

13,888
55
1,800
331
1,279
1,040
153
800
798
88
684
201
2,417

17,286
58
3,295
407
1,765
1,440
249
1,104
879
151
1,245
452
3,402

25,294
59
3,583
607
2,402
1,525
362
1,405
1,687
268
1,593
515
3,163

GDP
Y/Y % Change
Oil and Gas Sector as % of GDP

17,538
-1.2%
57.7%

19,364
10.4%
57.8%

23,534
21.5%
59.0%

31,734
34.8%
54.5%

42,463
33.8%
59.6%

Revised.

Provisional.

Source: Qatar Central Bank, Quarterly Statistical Bulletin, June 2006.

Domestic Liquidity (M2) (Year-end)


US$ millions
Growth Rate%
Source : Qatar Central Bank, Quarterly Statistical Bulletin, June 2006.

2001

2002

2003

2004

2005

7,900
0.0%

8,832
11.8%

10,226
15.8%

12,326
20.5%

17,657
43.3%

2001 - 2006 YTD

QR per US$
*

3.64

Exchange rate is pegged to the US Dollar.

Source: IMF, IFS, 2005.

Gross Domestic Product at Current Prices (mn US$)


2004 @

2005P

2001

2002

2003

Oil and Gas


Agriculture & Fishing
Manufacturing
Electricity & Water
Construction
Trade, Restaurants & Hotels
Transport & Communications
Finance, Insurance & Real Estate
Other Services

10,732
66
966
214
640
1,030
551
1,292
2,268

10,113
66
1,074
268
807
1,076
611
1,405
2,321

11,186
50
1,394
265
987
1,066
684
1,572
2,502

14,321
55
1,354
494
1,279
1,194
800
1,735
2,470

17,683
55
1,789
638
1,487
1,419
940
1,898
2,541

Total GDP
Y/Y % Change
Oil Sector as % of GDP

17,760
43.3%
60.4%

17,741
-0.1%
57.0%

19,707
11.1%
56.8%

23,701
20.3%
60.4%

28,451
20.0%
62.2%

Revised.

Provisional.

Source: Qatar Central Bank; Quarterly Statistical Bulletin, June 2005.

Government Revenues and Expenditures* (mn US$)


P

Budget**

2001/02

2002/03

2003/04

2004/05

2005/06

Total Revenues
Oil and Gas
Investment
Other

6,251
4,274
1,166
812

8,091
5,236
2,368
488

8,439
5,428
2,215
796

15,174
9,978
3,813
1,383

16,904
11,283
4,178
1,443

15,632
n.a.
n.a.
n.a.

Total Expenditures
Current Expenditure
Wages & Salaries
Interest payments
Supplies and Services
Others
Development Expenditure

5,633
4,776
1,568
759
225
2,224
857

6,443
5,163
1,648
614
459
2,441
1,280

7,422
5,981
1,729
534
533
3,185
1,441

9,782
7,640
2,071
515
426
4,629
2,142

12,862
8,427
1,822
389
198
6,019
4,434

15,000
9,505
n.a.
n.a.
n.a.
n.a.
5,495

Decit/Surplus
Decit/Surplus as % of GDP
Total Revenues Y/Y % Change
Oil Revenue per Capita (US$)
Non-Oil Revenue per Capita (US$)

618
3.5%
-8.8%
6,588
3,048

1,648
8.5%
29.4%
7,673
4,184

1,017
4.3%
4.3%
7,563
4,195

5,391
17.0%
79.8%
13,410
6,983

4,042
9.5%
11.4%
14,171
7,060

632
n.a.
-7.5%
n.a.
n.a.

2006/7

2001/02

2002/03

2003/04

6,855
5,521
748
587

6,251
4,274
1,166
812

7,834
4,989
2,368
477

8,439
5,428
2,215
796

13,613
8,498
3,813
1,302

10,447
5,722
3,448
1,278

Total Expenditures
Current Expenditure
Wages & Salaries
Interest payment
Supplies and Services
Others
Development Expenditure
Decit/Surplus
Decit/Surplus as % of GDP

5,575
5,014
1,471
820
416
2,306
561
1,280
7.2%

5,633
4,776
1,568
759
225
2,224
857
618
3.5%

6,264
5,040
1,648
614
444
2,334
1,224
1,570
8.0%

7,422
5,981
1,729
534
533
3,185
1,441
1,017
4.3%

9,686
7,559
2,070
432
418
4,640
2,126
3,927
13.8%

10,388
7,165
1,735
432
276
4,723
3,222
60
n.a.

*
**

Fiscal year spans from April to March.


Revenues are based on below market oil prices.
Provisional.

Source: Qatar Central Bank, Quarterly Statistical Bulletin, June 2006.

Gulf Investment Corporation GCC Economic Statistics Sixth Edition 2006

50 | 51

2004/05

Budget**
2005/06

2000/01

Source: Qatar Central Bank, Quarterly Statistical Bulletin, June 2005.

Provisional.

Total Revenues
Oil and Gas
Investment
Other

* Fiscal year spans from April to March.


** Revenues are based on below market oil prices.
P

Government Revenues and Expenditures* (mn US$)

Qatar

Qatar

Reserves (mn US$)

Reserves (mn US$)

Total Reserves minus Gold


SDRs
Foreign Exchange*
Reserve Position in the I.M.F.
Gold (National Valuation)
Total Reserves

2001

2002

2003

2004

2005

1,313
23
1,191
99
5
1,318

1,567
27
1,404
136
7
1,574

2,944
32
2,758
154
8
2,952

3,396
36
3,225
134
18
3,414

4,542
36
4,457
50
10
4,552

* Includes monetary authorities' claims on non-residents in the form of foreign banknotes, bank deposits, treasury bills, short a

nd long term government securities,

and other claims usable in the event of balance of payments need.

Total Reserves minus Gold


SDRs
Foreign Exchange*
Reserve Position in the I.M.F.
Gold (National Valuation)
Total Reserves
*

2003

2004

2005

1,567
27
1,404
136
7
1,574

2,944
32
2,758
154
8
2,952

3,396
36
3,225
134
18
3,414

and other claims usable in the event of balance of payments need.


Source: IMF, IFS, September 2005.

Domestic Public Debt (mn US$)

Domestic Public Debt (mn US$)


2001

Source: Qatar Central Bank, Dept. of Economic Policies.

2002

1,313
23
1,191
99
5
1,318

Includes monetary authorities' claims on non-residents in the form of foreign banknotes, bank deposits, treasury bills, short and long term government securities,

Source: IMF, IFS, November 2006.

Debt
As % of GDP

2001

1,158
21
1,079
58
5
1,163

6,052
34.5%

2002

4,619
23.9%

2003

5,476
23.3%

2004

5,074
16.0%

2005

5,124
12.1%

Debt
As % of GDP
Source: Qatar Central Bank, Dept. of Economic Policies.

2001

2002

2003

2004

2005

4,247
23.9%

6,052
34.1%

4,619
23.4%

5,476
23.1%

5,074
17.8%

External Debt* (mn US$)


Debt**
of which: Short-term

External Debt* (mn US$)


2001

2002

2003

2004

2005

9,192
1,848

8,679
1,347

10,025
1,953

11,478
1,704

15,793
2,834

Debt**
of which: Short-term

2001

2002

2003

2004

2005

9,066
1,813

9,192
1,848

8,679
1,347

9,982
1,917

11,461
2,198

* Of both public and private borrowers.


** Bank loans, debt securities issued abroad and non-bank trade credits (ofcial and ofcially guaranteed).

Source: Joint BIS-IMF-OECD-World Bank Statistics on External Debt, June 2006 (www.oecd.org).

Source: Joint BIS-IMF-OECD-World Bank Statistics on External Debt, June 2005 (www.oecd.org).

Population* ('000)

Population* ('000)

**

Of both public and private borrowers.


Bank loans, debt securities issued abroad and non-bank trade credits (ofcial and ofcially guaranteed).

2001

2002

2003

2004

2005

2001

2002

2003

2004

2005

649

682

718

744

796

610

640

690

730

780

* Mid-year estimates.

Source : Qatar Planning Council, Annual Statistical Abstract 2006 (www.planning.gov.qa).

Source : IMF, IFS September 2005.

Gulf Investment Corporation GCC Economic Statistics Sixth Edition 2006

52 | 53

Mid-year estimates.

Qatar

Qatar

Labor Force
Government
Qatari
Expatriates
Public Sector
Qatari
Expatriates
Private Financial Institutions
Qatari
Expatriates
Other Private Sector
Qatari
Expatriates
Total Labor Force
Qatari
As % of Total
Expatriates
As % of Total

Labor Force
2001

2002

2003

2004

2005

33,783
22,388
11,395
20,570
6,238
14,332
2,656
386
2,270
10,223
1,974
8,249
67,232
30,986
46%
36,246
54%

35,481
23,406
12,075
22,208
7,095
15,113
4,639
443
4,196
12,202
2,339
9,863
74,530
33,283
45%
41,247
55%

37,647
25,170
12,477
24,379
7,566
16,813
4,997
499
4,498
13,014
2,610
10,404
80,037
35,845
45%
44,192
55%

38,004
25,816
12,188
29,995
8,753
21,242
5,510
556
4,954
13,906
2,745
11,161
87,415
37,870
43%
49,545
57%

37,654
25,876
11,778
31,026
8,498
22,528
6,465
602
5,863
16,801
3,034
13,767
91,946
38,010
41%
53,936
59%

Source: The Qatar Planning Council, The General Secretarial, Annual Statistical Abstract 2006.

2001

2002

2003

2004

Government
Qatari
Expatriates
Public Sector
Qatari
Expatriates
Private Financial Institutions
Qatari
Expatriates
Other Private Sector
Qatari
Expatriates

35,873
22,387
13,486
16,350
4,766
11,584
2,563
367
2,196
9,457
1,779
7,678

33,783
22,388
11,395
20,570
6,238
14,332
2,656
386
2,270
10,223
1,974
8,249

35,481
23,406
12,075
22,208
7,095
15,113
4,639
443
4,196
12,202
2,339
9,863

37,647
25,170
12,477
24,379
7,566
16,813
4,997
499
4,498
13,014
2,610
10,404

38,004
25,816
12,188
29,995
8,753
21,242
5,510
556
4,954
13,906
2,745
11,161

Total
Qatari
As % of Total
Expatriates
As % of Total

64,243
29,299
46%
34,944
54%

67,232
30,986
46%
36,246
54%

74,530
33,283
45%
41,247
55%

80,037
35,845
45%
44,192
55%

87,415
37,870
43%
49,545
57%

Source: The Qatari Planning Council, The General Secretariat, Annual Statistical Abstract 2005.

Consumer Price Index (Y/Y % Change)

Source: Qatar Central Bank, Quarterly Statistical Bulletin, June 2006.

2000

Consumer Price Index (Y/Y % Change)


2001

2002

2003

2004

2005

2000

2001

2002

2003

2004

1.4

0.2

2.3

6.8

8.8

1.7

1.4

0.2

2.5

6.8

Source: Qatar Central Bank, Quarterly Statistical Bulletin, June 2005.

Stock Market* (mn US$)


Total Market Capitalization
GIC Qatar Index (Y/Y % change)

Stock Market* (mn US$)


2001

2002

2003

2004

2005

7,341
57.0

10,570
38.5

26,709
76.5

40,437
49.0

87,143
101.7

Total Market Capitalization


GIC Qatar Index (Y/Y % change)

* Year-end.

Source: Doha Securities Market and GIC Equity Research.

Source: Doha Securities Market and GIC Equity Research.

Crude Oil Prices (US$/bl)

Crude Oil Prices (US$/bl)

Dukhan (Year Average)

2001

2002

2003

2004

2005

23.74

24.36

27.44

36.05

53.46

2001

2002

2003

2004

2005

5,200
1.45

7,341
7.03

10,570
8.57

26,709
6.54

40,437
9.0

Year-end.

Dukhan (Year Average)

Source: OPEC Annual Statistical Bulletin 2005.

Source: OPEC Annual Statistical Bulletin 2004.

Oil Production ('000 b/d)

Oil Production ('000 b/d)

2001

2002

2003

2004

2005

26.95

23.74

24.36

27.52

36.05

2001

2002

2003

2004

2005

2001

2002

2003

2004

2005

633

569

676

755

766

648

633

569

676

755

Source: OPEC Annual Statistical Bulletin 2005.

Source: OPEC Annual Statistical Bulletin 2004.

Gulf Investment Corporation GCC Economic Statistics Sixth Edition 2006

54 | 55

Qatar

Qatar

Balance of Payments*(mn US$)


Exports
Imports
Trade Balance
Services (Net)
Income (Net)
Transfers (Net)
Current Account
Current Account as % of GDP
Capital and Financial Account
Capital Account
Financial Account *
Net Error and Omissions
Overall Balance

Balance of Payments (mn US$)


2001

2002

2003

2004

2005

10,871
-3,386
7,485
-1,028
-704
-1,601
4,152
23.7%
-1,055
0
-1,055
-472
2,625

10,978
-3,650
7,328
-1,090
-897
-1,517
3,824
19.7%
-1,712
-373
-1,340
-323
1,789

13,382
-4,359
9,024
-1,203
-416
-1,650
5,754
24.4%
-757
-319
-438
-766
4,230

18,685
-5,410
13,275
-1,227
-2,242
-2,254
7,552
23.8%
-1,335
-551
-785
-2,289
3,927

25,762
-9,064
16,698
-924
-2,485
-2,577
10,713
25.2%
-4,056
-753
-3,303
-2,227
4,429

* Negative signs indicate outows while positive signs indicate inows.


P

Exports
Imports
Trade Balance
Services (Net)
Income (Net)
Transfers (Net)
Current Account
Capital and Financial Account
Overall Balance
Change in Reserves*
P

2001

2002

2003

2004P

11,594
-2,930
8,664
-1,276
-1,399
-1,413
4,576
-19
2,691
-2,691

10,871
-3,386
7,485
-1,028
-704
-1,601
4,152
-1,055
2,625
-2,625

10,978
-3,650
7,328
-1,090
-897
-1,517
3,824
-1,712
1,789
-1,789

13,382
-4,359
9,024
-1,203
-416
-1,650
5,754
-757
4,230
-4,230

18,685
-5,410
13,275
-1,227
-2,242
-2,254
7,552
-1,335
3,927
-3,927

Provisional.
Negative signs indicate outows while positive sign indicate inows.

Notes:

Exports and imports are both measured on a "free-on-board" (f.o.b.) basis which is the value of goods at the border of the exporting country. In the case of
imports, this excludes the cost of freight and insurance incurred beyond the border of the exporting country.

Provisional.

Source: Qatar Central Bank, Quarterly Statistical Bulletin, June 2005.

Notes:

2000

Exports and imports are both measured on a "free-on-board" (f.o.b.) basis which is the value of goods at the border of the exporting country. In the case of

Foreign Direct Investment (mn US$)

imports, this excludes the cost of freight and insurance incurred beyond the border of the exporting country.
Source: Qatar Central Bank, Quarterly Statistical Bulletin, June 2006.

Foreign Direct Investment (mn US$)


2001

Inward Flow
Outward Flow
Inward Stock (1)
Outward Stock (2)

* Estimated by accumulating ows since 1996.


(1)

Estimated by accumulating ows since 1970.

(2)

Estimated by accumulating ows since 1995.

Source: UNCTAD, World Investment Report, 2006.

296 *
17
2,207
92

2002

2003

2004

2005

624
-21

625
-2

1,199
192

1,469
352

2,831
70

3,456
68

4,655
260

6,124
612

Inward
Outward
Inward Stocks (1)
Outward Stocks (2)
(1)

Estimated by accumulated ows since 1973.

(2)

Estimated by accumulated ows since 1995.

Estimated by accumulated ows since 1996.

Source: UNCTAD, World Investment Report, 2005.

2000

2001

2002

2003

2004

252
41
1,920
181

296*
112
2,216
293

631
61
2,847
353

625
71
3,247
424

679
2
4,144
67

Main Destinations of Exports (f.o.b.)

Main Destinations of Exports (f.o.b.)


Partner

2001

2002

2003

2004

2005

Value (mn US$)

% of Exports

5,648
2,338
639
4,773
1,975
972
5,924
2,395
1,248
7,779
2,933
1,695
9,662
5,090
2,157

44%
18%
5%
40%
17%
8%
41%
17%
9%
42%
16%
9%
38%
20%
8%

Value (mn US$)

% of Imports

France
USA
Italy
France
Japan
USA
France
UK
Japan
France
USA
UAE

721
369
346
722
407
346
998
567
523
1,607
577
379

18%
9%
8%
18%
10%
9%
19%
11%
10%
27%
10%
6%

France
Japan
USA

1,200
1,087
1,085

15%
14%
13%

Japan
Korea
Singapore
Japan
Korea
Singapore
Japan
Korea
Singapore
Japan
Korea
Singapore
Japan
Korea
Singapore

Main Origins of Imports (c.i.f.)

2002

2003

2004

2005

2000

2001

2002

2003

2004

Japan
Korea
Singapore
Japan
Korea
Singapore
Japan
Korea
Singapore
Japan
Korea
Singapore
Japan
Korea
Singapore

Value (mn US$)

% of Imports

5,216
1,952
824
5,648
2,338
639
4,773
1,975
972
5,924
2,395
1,248
7,779
2,933
1,695

45%
17%
7%
44%
18%
5%
40%
17%
8%
41%
17%
9%
42%
16%
9%

Value (mn US$)

% of Imports

358
335
266
721
369
346
722
407
346
998
567
523
1,607
577
379

11%
10%
8%
18%
9%
8%
18%
10%
9%
19%
11%
10%
27%
10%
6%

Main Origins of Imports (c.i.f.)


Partner

2001

Partner

f.o.b.: The value of goods at the border of the exporting country.

Partner

2000

2001

2002

2003

2004

Japan
USA
Germany
France
USA
Italy
France
Japan
USA
France
UK
Japan
France
USA
UAE

f.o.b.: The value of goods at the border of the exporting country.

c.i.f.: The value of goods, including the cost of freight and insurance, at the border of the importing country.

c.i.f.: The value of goods, including the cost of freight and insurance, at the border of the importing country.

Source : IMF, Direction of Trade Statistics, various issues through September 2006.

Source : IMF, Direction of Trade Statistics, various issues through September 2005.

Gulf Investment Corporation GCC Economic Statistics Sixth Edition 2006

56 | 57

Qatar

Qatar

Trade with GCC Countries* (mn US$)

Trade with GCC Countries* (mn US$)

Export to

Bahrain
Kuwait
Oman
Saudi Arabia
United Arab Emirates
Imports from

Bahrain
Kuwait
Oman
Saudi Arabia
United Arab Emirates

2001

2002

2003

2004

2005

19
10
7
111
126

20
9
7
105
117

24
10
7
117
131

37
78
27
194
616

50
103
36
258
818

2001

2002

2003

2004

2005

40
17
17
178
218

41
16
16
168
206

25
16
20
210
205

79
28
44
571
379

101
38
59
758
504

* Discrepancies in trade statistics are caused by: Classication concepts and details, time of recording, valuation, coverage and
Source : IMF, Direction of Trade Statistics, various issues through September 2006.

processing errors.

Exports to

Bahrain
Kuwait
Oman
Saudi Arabia
United Arab Emirates
Imports from

Bahrain
Kuwait
Oman
Saudi Arabia
United Arab Emirates
*

2000

2001

2002

2003

2004

17
10
7
115
513

19
10
7
111
126

20
9
7
105
117

24
10
7
117
131

37
78
27
194
616

2000

2001

2002

2003

2004

40
17
18
183
225

40
17
17
178
218

41
16
16
168
206

25
16
20
210
205

79
28
44
571
379

Discrepancies in trade statistics are caused by: Classication concepts and details, time of recording, valuation, coverage and processing errors.

Source : IMF, Direction of Trade Statistics, various issues through September 2005.

Saudi Arabia

350
300
Bn US$

250
200
150
100
50
0

2001

2002

2003

2004

2005

SAUDI ARABIA 2005 GDP BY MAIN ACTIVITIES (Mn US$)

Agriculture, Forestry and Fishing


Manufacturing
Wholesale, Retail Trade, Restaurants and Hotels
Finance, Insurance, Real State and Business Services
Others

Crude Petroleum and Natural Gas


Construction
Transport, Storage and Communication
Public Administration, Defence and Other Services

150

Bn US$

120
90
60
30
0

0.8
0.6
0.4
0.2
0.0
-0.2
-0.4
-0.6
-0.8
-1.0
-1.2

2001

2002

2003

2004

2005

2001

2002

2003

2004

2005

Gulf Investment Corporation GCC Economic Statistics Sixth Edition 2006

60 | 61

Saudi Arabia

Saudi Arabia

Domestic Public Debt* (mn US$)

External Debt* (mn US$)

Debt
As % of GDP

2001

2002

2003

2004

2005

170,900
93.3%

173,750
92.0%

176,240
82.0%

163,950
65.4%

126,840
40.9%

* Does not include debt of quasi-government bodies.

**

Source: Saudi Arabian Monetary Agency (www.sama.gov.sa)

2001

2002

2003

2004

2005

26,584
13,096

22,367
13,342

23,806
16,003

22,539
12,629

29,729
13,645

* Of both public and private borrowers.


** Bank loans, non-bank trade credits (ofcial and ofcially guaranteed) and ofcial bilateral loans (Development Assistance Committee creditors).
Source : Joint BIS-IMF-OECD-World Bank External Debt Database, June 2006 (www.oecd.org).

Population ('000)
2001

2002

2003

2004

2005

15,292
5,684

15,667
5,824

16,052
5,967

16,421
6,108

16,854
6,265

Total Population *
Saudis as % of population
Non-Saudis as % of population

20,976
72.9%
27.1%

21,491
72.9%
27.1%

22,019
72.9%
27.1%

22,529
72.9%
27.1%

23,119
72.9%
27.1%

* Mid year etimates.


Source : Saudi Arabian Monetary Agency (www.sama.gov.sa).

Labor Force Estimates ('000)

Source: Ministry of Civil Services.

2001

2002

2003

2004

26,584
13,096

22,367
13,342

23,760
16,003

22,103
12,780

Of both public and private borrowers.


Bank loans, non-bank trade credits (ofcial and ofcially guaranteed) and ofcial bilateral loans (DAC creditors).

Population ('000)
Saudi
Non-Saudi
Total Population**
Saudi as % of population
Non-Saudi as % of population
*

Saudis
Non-Saudis

Total Public Sector Labor Force


Saudis
Non-Saudis
Total Private Sector Labor Force
Saudis
Non-Saudis
Total Labor Force
Saudis
Non-Saudis

2000

28,876
11,505

Source : Joint BIS-IMF-OECD-World Bank External Debt Database, June 2005 (www.oecd.org).

External Debt* (mn US$)


Debt**
of which : Short-term

Debt**
of which : Short-term

2001

2002

2003

2004

2005

711
631
80
5,098
588
4,510
5,809
1,219
4,590

728
653
75
5,185
598
4,587
5,913
1,251
4,662

747
678
69
5,128
592
4,536
5,875
1,269
4,606

763
694
69
4,649
486
4,163
5,412
1,180
4,232

783
713
70
5,362
623
4,739
6,146
1,336
4,809

**

2000

2001

2002

2003

2004*

14,925
4,548
19,473
76.6%
23.4%

15,292
5,684
20,976
72.9%
27.1%

15,667
5,824
21,491
72.9%
27.1%

16,052
5,967
22,019
72.9%
27.1%

16,529
6,144
22,673
72.9%
27.1%

2001

2002

2003

2004

923
752
170
6,382
2,744
3,639
7,305
3,496
3,809

926
770
156
6,445
2,894
3,551
7,371
3,664
3,707

929
788
141
6,508
3,045
3,463
7,437
3,833
3,604

932
806
126
6,573
3,184
3,389
7,505
3,990
3,515

Final result of population census conducted in September 2004.


Mid year etimates.

Source : Saudi Arabian Monetary Agency (www.sama.gov.sa).

Labor Force Estimates ('000)


Total Public Sector Labor Force
Saudis
Non-Saudis
Total Private Sector Labor Force
Saudis
Non-Saudis
Total Labor Force
Saudis
Non-Saudis

Source: Ministry of Planning, Central Dept. of Statistics, Seventh ve-year Development Plan (2000-2005).

Government Revenues and Expenditures (bn US$)


Total Revenues
Oil Revenue
Other Revenue
Total Expenditures
Project Expenditure
Current Expenditure
Decit/Surplus
Decit/Surplus as % of GDP
Total Revenue Y/Y % Change
Oil Revenue per Capita (US$)
Non-Oil Revenue per Capita (US$)
@

Budget@
2001

2002

2003

2004

2005

2006

60.9
49.1
11.8
68.1
8.4
59.7
-7.2
3.9%
-11.6%
2,341
563

56.9
44.4
12.5
62.3
8.0
54.3
-5.5
2.9%
-6.6%
2,064
583

78.2
61.7
16.6
68.6
8.9
59.7
9.6
4.5%
37.6%
2,801
752

104.8
88.1
16.6
76.2
10.0
66.1
28.6
11.4%
33.9%
3,911
738

150.7
134.7
16.0
92.5
16.6
75.9
58.2
18.8%
43.9%
5,827
691

104.1
18.7
85.4
89.5
n.a.
n.a.
14.7
n.a.
-30.9%
n.a.
n.a.

Revenues are based on below market oil prices.

Government Revenues and Expenditures (bn US$)


Budget@

Total Revenues
Oil Revenue
Other Revenue
Total Expenditures
Project Expenditure
Current Expenditure
Decit/Surplus
Decit/Surplus as % of GDP
*
@

2000*

2001

2002

2003

2004

2005

68.9
57.3
11.7
62.8
4.9
57.9
6.1
3.2%

60.9
49.1
11.8
68.1
8.4
59.7
-7.2
3.9%

56.9
44.4
12.5
62.3
8.0
54.3
-5.5
2.9%

78.2
61.7
16.5
68.6
9.0
59.7
9.6
4.5%

104.8
88.1
16.6
76.2
10.0
66.1
28.6
11.4%

74.8
n.a.
n.a.
74.8
n.a.
n.a.
0.0
n.a.

2000
19,586
191
18,036
1,359
210
19,795

2001
17,596
242
14,796
2,558
202
17,798

2002
20,610
332
16,715
3,564
219
20,829

2003
22,620
431
17,662
4,527
239
22,859

27,291
519
23,273
3,499
250
27,541

13-month salaries were paid during scal year 1420/21 (2000).


Revenues are based on below market oil prices.

Source: Saudi Arabian Monetary Agency, Annual Report 2004 and (www.sama.gov.sa).

Source: Saudi Arabian Monetary Agency, Annual Report 2006 (www.sama.gov.sa).

Interest Rates (Average Annual %)

Reserves (mn US$)


2001

Deposit Rate

3.92

2002

2.23

2003

1.63

2004

1.73

2005

3.75

Source: IMF, IFS, November 2006.

Reserves (mn US$)


Total Reserves minus Gold
SDRs
Foreign Exchange*
Reserve Position in the I.M.F.
Gold (National valuation)
Total Reserves

2001

2002

2003

2004

2005

17,596
242
14,796
2,558
202
17,798

20,610
332
16,715
3,564
219
20,829

22,620
431
17,662
4,527
239
22,859

27,291
519
23,273
3,499
250
27,541

26,530
550
24,074
1,906
230
26,760

Total Reserves minus Gold


SDRs
Foreign Exchange*
Reserve Position in the I.M.F.
Gold (National valuation)
Total Reserves
*

Includes monetary authorities' claims on non-residents in the form of foreign banknotes, bank deposits, treasury bills, short and long term government securities
and other claims usable in the event of balance of payments need.

Source: IMF, IFS, September 2005.

Domestic Public Debt* (mn US$)

* Includes monetary authorities' claims on non-residents in the form of foreign banknotes, bank deposits, treasury bills, short and long term government securities
and other claims usable in the event of balance of payments need.

Debt
As % of GDP

Source: IMF, IFS, November 2006.

2000

2001

2002

2003

2004

164,486
87.2%

168,225
91.8%

182,966
96.9%

167,957
78.2%

163,952
65.3%

Does not include debt of quasi-government bodies.

Source: IMF, Staff Report for the 2001 Article IV Consultation and SAMA Annual Report 2005.

Gulf Investment Corporation GCC Economic Statistics Sixth Edition 2006

62 | 63

2004

Saudi Arabia

Saudi Arabia

Gross Domestic Product at Current Prices (mn US$)

Saudi Riyal (SR) Exchange Rate*

Agriculture, Forestry and Fishing


Mining and Quarrying :
Crude Oil and Natural Gas
Other
Manufacturing :
Petroleum Rening
Other
Electricity, Gas and Water
Construction
Wholesale and Retail Trade, Restaurants and Hotels
Transport, Storage and Communication
Finance, Insurance, Real Estate and Business Services :
Ownership of dwellings
Other
Community, Social and Personal Services
Less : Imputed Bank Services Charge
Public Administration, Defence, and Other Services
Import Duties
GDP
Y/Y % Change
Crude Oil & Natural Gas as % of GDP
@

Revised.

Provisional.

2001

2002

2003

9,535
61,482
60,776
706
18,480
5,168
13,311
2,384
11,531
13,296
8,160
21,061
11,732
9,329
6,159
3,736
33,001
1,905
183,257
-2.9%
33.2%

9,640
63,265
62,538
726
19,486
5,456
14,030
2,484
11,946
13,814
8,527
21,915
12,013
9,902
6,442
3,929
33,241
1,972
188,803
3.0%
33.1%

9,734
78,534
77,791
744
23,035
7,939
15,096
2,636
12,587
14,381
8,872
22,922
12,277
10,644
6,706
4,070
37,364
2,159
214,859
13.8%
36.2%

2004@

9,930
102,662
101,891
771
25,588
8,661
16,927
2,779
13,656
15,523
9,524
24,357
12,804
11,554
7,070
4,259
41,488
2,356
250,673
16.7%
40.6%

2005P

10,218
149,039
148,233
805
29,705
10,535
19,170
2,942
14,630
16,741
10,274
26,093
13,332
12,761
7,469
4,469
44,602
2,701
309,944
23.6%
47.8%

Source: Saudi Arabian Monetary Agency, Annual Report 2006 (www.sama.gov.sa).

Domestic Liquidity (M2) (Year-end)


US$ millions
Growth Rate%
Source : Saudi Arabian Monetary Agency, Annual Report 2006.

2001

2002

2003

2004

2005

72,385
5.8%

82,875
14.5%

89,828
8.4%

108,939
21.3%

119,841
10.0%

2000 - 2005 YTD

SR per US$
*

3.745

Exchange rate is pegged to the US Dollar.

Source: IMF, IFS, 2005.

Gross Domestic Product at Current Prices (mn US$)


Agriculture, Forestry and Fishing
Mining and Quarrying :
Crude Petroleum and Natural Gas
Other
Manufacturing :
Petroleum Rening
Other
Electricity, Gas and Water
Construction
Wholesale and Retail Trade, Restaurants and Hotels
Transport, Storage and Communication
Finance, Insurance, Real Estate and Business Services :
Ownership of dwellings
Other
Community, Social and Personal Services
Less : Imputed Bank Services Charge
Public Administration, Defence, and Other Services
Import Duties
Gross Domestic Product (GDP)
Y/Y % Change
Crude Petroleum & Natural Gas as % of GDP
@

Revised.

Provisional.

Source: Saudi Arabian Monetary Agency, Annual Report 2005 (www.sama.gov.sa).

2000

2001

2002

2003@

2004P

9,339
70,066
69,385
681
18,235
5,630
12,605
2,274
11,141
12,772
7,771
20,348
11,497
8,851
5,921
3,560
31,809
2,577
188,693
17.1%
36.8%

9,535
61,482
60,776
706
18,480
5,168
13,311
2,384
11,531
13,296
8,160
21,061
11,732
9,329
6,159
3,736
33,001
1,905
183,257
-2.9%
33.2%

9,640
63,265
62,538
726
19,486
5,456
14,030
2,484
11,946
13,814
8,527
21,915
12,013
9,902
6,442
3,929
33,241
1,972
188,803
3.0%
33.1%

9,734
78,534
77,791
744
23,035
7,939
15,096
2,636
12,587
14,381
8,872
22,922
12,277
10,644
6,706
4,070
37,364
2,159
214,859
13.8%
36.2%

9,930
105,890
105,119
771
25,357
8,430
16,927
2,779
13,656
15,523
9,524
24,357
12,804
11,554
7,070
4,259
38,705
2,360
250,892
16.8%
41.9%

Consumer Price Index (Y/Y % Change)

Consumer Price Index (Y/Y % Change)


2001

2002

2003

2004

2005

2000

2001

2002

2003

2004

-1.1

0.2

0.6

0.3

0.7

-1.1

-1.1

0.2

0.6

0.5

Source: Saudi Arabian Monetary Agency, Monthly Statistical Bulletin, August 2006.

Source: IMF, IFS, September 2005.

Stock Market* (mn US$)

Stock Market* (mn US$)

Total Market Capitalization


GIC Saudi Arabia Index (Y/Y % change)

2001

2002

2003

2004

2005

73,431
14.2

75,033
7.0

157,543
59.9

306,809
94.8

651,044
124.3

Total Market Capitalization


GIC Saudi Arabia Index (Y/Y % change)

2000

2001

2002

2003

2004

68,091
12.9

73,431
14.2

75,033
7.0

157,543
59.9

306,809
94.8

* Year-end.

Source: Saudi Arabian Monetary Agency, Monthly Statistical Bulletin, August 2006 and GIC Equity Research.

Source: Saudi Arabian Monetary Agency, Monthly Statistical Bulletin, September 2005 and GIC Equity Research.

Oil Statistics (mn bl)

Oil Statistics (mn bl)

Total Production
Daily Avg.
Arab Light Price (US$/bl)

2001

2002

2003

2004

2005

2,879
7.89
23.06

2,589
7.09
24.32

3,070
8.41
27.69

3,247
8.90
34.53

3,414
9.35
50.21

Source: OPEC Annual Statistical Bulletin 2005.

Year-end.

Total Production
Daily Avg.
Arab Light Price (US$/bl)
Source: OPEC Annual Statistical Bulletin 2004.

Gulf Investment Corporation GCC Economic Statistics Sixth Edition 2006

64 | 65

2000

2001

2002

2003

2004

2,963
8.10
26.81

2,879
7.89
23.06

2,589
7.09
24.32

3,070
8.41
27.69

3,247
8.90
34.53

Saudi Arabia

Saudi Arabia

Balance of Payments (mn US$)

Balance of Payments (mn US$)

Total Exports
Total Imports
Trade Balance
Net Services
Net Income*
Current Transfers, net
Current Account
Current Account as % of GDP
Financial Account, net **
Portfolio Investment Assets
Net Error and Omissions
Overall Balance

2001

2002

2003

2004

67,973
28,607
39,366
-14,273
-519
-15,220
9,353
5.1%
-11,262
-2,797
0
-1,909

72,464
29,624
42,840
-14,803
-211
-15,954
11,873
6.3%
-9,137
7,552
0
2,736

93,244
33,868
59,376
-15,144
-1,300
-14,883
28,048
13.1%
-26,440
-18,738
0
1,608

125,998
40,050
84,948
-19,844
478
-13,655
51,926
20.7%
-47,428
-26,654
0
4,498

2005

174,635
51,327
123,308
-22,031
272*
-14,418
87,131
28.1%
-87,596
-48,013
-1
-464

* Net government & private sector foreign income. 2005 gures reects income credit of $ 4943 million and income debit of $ 4671 million.
** The net sum of the balance of direct investment, portfolio investment, other investment transactions and nancial derivatives.

Total Exports
Total Imports
Trade Balance
Net Services
Net Income*
Current Transfers, net
Current Account
Financial Account, net**
Overall Balance
*
**

2000

2001

2002

2003

2004

77,481
27,704
49,777
-20,449
480
-15,490
14,317
-11,652
2,665

67,973
28,607
39,366
-14,273
-519
-15,220
9,353
-11,262
-1,909

72,464
29,624
42,840
-14,803
-211
-15,954
11,873
-9,137
2,736

93,244
33,868
59,376
-15,144
-1,300
-14,883
28,048
-26,440
1,608

126,063
40,841
85,222
-19,819
-260
-13,655
51,488
-46,990
4,498

Net government & private sector foreign income.


The net sum of the balance of direct investment, portfolio investment, other investment transactions and nancial derivatives.
Notes:

Negative signs indicate outflows while positive signs indicate inflows.

Exports and imports are both measured on a "free-on-board" (f.o.b.) basis which is the value of goods at the border of the exporting country. In the case of

Notes:

imports, this excludes the cost of freight and insurance incurred beyond the border of the exporting country.

Negative signs indicate outflows while positive signs indicate inflows.

Exports and imports are both measured on a "free-on-board" (f.o.b.) basis which is the value of goods at the border of the exporting country. In the case of

Source: IMF, IFS, September 2005.

imports, this excludes the cost of freight and insurance incurred beyond the border of the exporting country.

Foreign Direct Investment* (mn US$)

Figures may not add to total due to rounding.

Source: IMF, IFS, November 2006.

Foreign Direct Investment* (mn US$)


Flow (1)

Inward
Outward Flow
Inward Stock
Outward Stock (2)

2001

2002

2003

2004

2005

504
-612
17,281
1,592

453
143
17,734
1,736

778
83
18,512
1,819

1,942
709
20,454
2,528

4,628
1,183
26,066
3,711

* FDI in Saudi Arabia is dened as Foreign Licensed Capital (currency notes, securities, machinery, equipment and other assets o

wned by non-Saudis)

in joint ventures approved by the Saudi government.


(1)

(2)

Inward** (1)
Outward e
Inward Stocks (2)
Outward Stocks (3)
*

2000

2001

2002

2003

2004

-1,884
155
25,963
2,120

20
-44
25,983
2,076

-615
50
25,368
2,126

208
54
25,576
2,180

1,867
73
20,454
1,892

FDI in Saudi Arabia is dened as Foreign Licensed Capital (currency notes, securities, machinery, equipment and other assets owned by non-Saudis)
in joint ventures approved by the Saudi government.

**

FDI inows with negative sign means that at least one of the three components of inward FDI (equity capital, retained earnings or intra-company loans)
is negative and not offset by positive amounts of the other components.

e
(1)

Not all FDI components are available, only intra-company loans are consistently available for all years. The other two components (equity capital and retained

Estimate
Not all FDI components are available, only intra-company loans are consistently available for all years. The other two components (equity capital and retained
earnings) are available for some years.

earnings) are available for some years.

(2)

Estimated by accumulated ows since 1970.

Estimated by accumulating ows since 1995.

(3)

Estimated by using the inward stock of United States as a proxy and accumulated ows since 1993.

Source: UNCTAD, World Investment Report 2006.

Source: UNCTAD, World Investment Report 2005.

Main Destinations of Exports (f.o.b.)

2001

2002

2003

2004

2005

Main Destinations of Exports (f.o.b.)


Partner

Value (mn US$)

% of Exports

Partner

Value (mn US$)

% of Imports

USA
Japan
Korea
USA
Japan
Korea
USA
Japan
Korea
USA
Japan
Korea

13,104
12,457
7,325
12,629
10,580
6,864
17,750
13,241
8,322
20,457
16,803
10,727

18%
17%
10%
19%
16%
10%
19%
14%
9%
16%
13%
9%

USA
Japan
Korea

26,333
25,978
14,642

15%
15%
8%

USA
Japan
Korea
USA
Japan
Korea
USA
Japan
Korea
USA
Japan
Korea
USA
Japan
Korea

13,002
12,898
8,765
13,104
12,457
7,325
12,629
10,580
6,864
17,750
13,241
8,322
20,457
16,803
10,727

17%
16%
11%
18%
17%
10%
19%
16%
10%
19%
14%
9%
16%
13%
9%

Partner

Value (mn US$)

% of Imports

7,631
3,398
2,662
6,567
3,878
2,952
5,256
4,142
3,544
5,055
4,106
3,927
6,845
4,366
3,612

27%
12%
9%
21%
12%
9%
16%
13%
11%
14%
11%
11%
15%
10%
8%

Partner

2002

2003

2004

2005

2001

2002

2003

2004

Main Origins of Imports (c.i.f.)

Main Origins of Imports (c.i.f.)

2001

2000

USA
Japan
Germany
USA
Japan
Germany
USA
Japan
Germany
USA
Japan
Germany
USA
Germany
Japan

Value (mn US$)

% of Imports

6,567
3,878
2,952
5,256
4,142
3,544
5,055
4,106
3,927
6,845
4,366
3,612
7,513
5,525
4,585

21%
12%
9%
16%
13%
11%
14%
11%
11%
15%
10%
8%
15%
11%
9%

2000

2001

2002

2003

2004

USA
Japan
Germany
USA
Japan
Germany
USA
Japan
Germany
USA
Japan
Germany
USA
Japan
Germany

f.o.b.: The value of goods at the border of the exporting country.

f.o.b.: The value of goods at the border of the exporting country.

c.i.f.: The value of goods, including the cost of freight and insurance, at the border of the importing country.

c.i.f.: The value of goods, including the cost of freight and insurance, at the border of the importing country.

Note: Share of trade partners for previous years have been adjusted to reect revisions made on total imports for concerned years.

Source : IMF, Direction of Trade Statistics, various issues through September 2005.

Source : IMF, Direction of Trade Statistics, various issues through September 2006.

Gulf Investment Corporation GCC Economic Statistics Sixth Edition 2006

66 | 67

Saudi Arabia

Saudi Arabia

Trade with GCC Countries* (mn US$)

Trade with GCC Countries* (mn US$)

Exports to

Bahrain
Kuwait
Oman
Qatar
United Arab Emirates
Imports from

Bahrain
Kuwait
Oman
Qatar
United Arab Emirates

2001

2002

2003

2004

2005

1,554
540
182
162
888

1,653
509
172
259
951

2,004
567
191
369
1,059

2,651
652
235
519
1,422

3,606
866
312
689
1,887

2001

2002

2003

2004

2005

187
104
136
135
572

193
98
119
145
539

215
109
152
169
600

450
205
161
188
1,187

574
272
214
250
1,575

* Discrepancies in trade statistics are caused by: Classication concepts and details, time of recording, valuation, coverage and
Source : IMF, Direction of Trade Statistics, various issues through September 2006 and (www.sama.gov.sa).

processing errors.

Exports to

Bahrain
Kuwait
Oman
Qatar
United Arab Emirates
Imports from

Bahrain
Kuwait
Oman
Qatar
United Arab Emirates
*

2000

2001

2002

2003

2004

1,440
557
188
167
837

1,554
540
182
162
888

1,653
509
172
259
951

2,004
567
191
369
1,059

2,651
652
235
519
1,422

2000

2001

2002

2003

2004

188
107
105
93
590

187
104
136
135
572

193
98
119
145
539

215
109
152
169
600

450
205
161
188
1,187

Discrepancies in trade statistics are caused by: Classication concepts and details, time of recording, valuation, coverage and processing errors.

Source : IMF, Direction of Trade Statistics, various issues through September 2005 and (www.sama.gov.sa).

United Arab Emirates

150

Bn US$

120
90
60
30
0

2001

2002

2003

2004

2005

UAE 2005 GDP BY MAIN ACTIVITIES (Mn US$)


Minning and Quarying
Agriculture, Live Stock and Fishing
Construction
Resaurants & Hotels
Financial Institutions and Insurance
Manufacturing
Electricity & Water
Wholesale and Retail Trade
Transports, Storage and Communications
Real Estate and Business Services
Others

2004 GDP BY EMIRATES (at current prices)

Abu Dhabi
Dubai
Sharjah
Ajman
Umm Al-Qiwain
Ras Al-Khaimah
Fujaeirah

50
40
30
20
10
0

2001

2002

2003

2004

2005

2001

2002

2003

2004

2005

8
7
6
5
4
3
2

Gulf Investment Corporation GCC Economic Statistics Sixth Edition 2006

70 | 71

United Arab Emirates


*

Gross Domestic Product at Current Prices (mn US$)


Mining & Quarrying
of which: Crude Oil & Natural Gas
Manufacturing
Agriculture, Live Stock and Fishing
Electricity & Water
Construction
Wholesale and Retail Trade
Restaurants & Hotels
Transports, Storage and Communications
Financial Institutions and Insurance
Real Estate and Business Services
Social and Personal Services
(Less) Imputed Bank Service Charges
Producers of Government Services
Domestic Services of Households
GDP
Y/Y % Change
Oil Sector As % of GDP
@

Revised.

Provisional.

2001

2002

2003

20,609
20,419
9,566
2,413
1,332
4,750
6,219
1,480
5,336
4,587
5,354
1,107
-1,414
7,360
528
69,227
-1.5%
29.5%

19,953
19,755
10,268
2,479
1,342
5,848
7,868
1,641
5,920
4,714
6,133
1,542
-1,552
7,587
553
74,297
7.3%
26.6%

25,296
25,088
11,495
2,492
1,636
7,099
9,656
1,777
6,723
5,419
6,904
1,768
-1,586
8,370
562
87,611
17.9%
28.6%

2004@

33,789
33,563
13,658
2,750
1,830
7,889
11,833
1,999
7,424
6,365
8,174
1,937
-1,814
8,839
579
105,251
20.1%
31.9%

2005P

47,410
47,160
16,663
3,003
2,161
9,525
14,431
2,436
8,888
7,740
9,781
2,071
-2,014
9,458
649
132,202
25.6%
35.7%

Source: Central Bank of the United Arab Emirates, Quarterly Statistical Bulletin, April-June 2006.

Domestic Liquidity (M2) (Year-end)


US$ millions
Growth Rate%
Source : IMF, IFS, November 2006

2001

2002

2003

2004

2005

42,599
23.2%

47,283
11.0%

54,622
15.5%

67,639
23.8%

88,241
30.5%

2000 - 2004 YTD

3.6725

2000

2001

2002

2003@

2004P

Consolidated Government Revenues and Expenditures (mn US$)


Total Revenues
Tax Revenues
Customs Revenues
Other
Non-Tax Revenues
Oil and Gas
Joint Stock Corporations Prots
Other
Total Expenditure
Current Expenditures
Salaries and Wages
Goods and Services
Subsidies and Transfers
Other Unclassied
Development Expenditures
Loans and Equity Participations
Domestic
Foreign
Decit/Surplus
Decit/Surplus as % of GDP
Total Revenues Y/Y% Change
Oil Revenue per Capita (US$)
Non-Oil Revenue per Capita (US$)
Financing
Local Banks
(1)
Other
@

Revised.

Provisional.

(1)

2001

2002

18,688
1,708
503
1,206
16,980
14,063
922
1,995
25,993
20,968
3,817
5,869
5,106
6,176
3,617
1,408
246
1,162
-7,305
10.6%
-7.7%
4,032
1,326
7,305
640
6,665

15,580
1,874
453
1,421
13,706
11,144
914
1,646
23,585
19,769
3,979
6,041
4,025
5,724
3,396
420
161
259
-8,005
10.8%
-16.6%
2,969
1,182
8,005
-1,181
9,186

2003 @

20,970
1,918
667
1,251
19,052
15,449
799
2,803
24,897
20,219
4,128
6,481
2,834
6,776
4,364
314
-221
534
-3,927
4.5%
34.6%
3,823
1,366
3,927
649
3,278

2004 P

25,800
2,605
828
1,777
23,195
19,965
905
2,326
26,215
22,051
4,255
6,816
3,177
7,803
4,141
23
939
-916
-415
0.4%
23.0%
4,622
1,351
415
-484
899

2005P

43,714
2,775
1,047
1,728
40,939
30,327
1,113
9,499
33,299
20,950
4,454
6,585
3,449
6,463
3,678
8,670
8,560
111
10,415
7.9%
69.4%
8,044
3,551
-10,415
-4,367
-6,048

Transfers from government investment income.

Note: Figures may not add to total due to rounding.


Source: Central Bank of the United Arab Emirates, Statistical Bulletin, April - June 2006.

Gulf Investment Corporation GCC Economic Statistics Sixth Edition 2006

72 | 73

United Arab Emirates


Interest Rates (Average Annual %)
Deposit Rate
Lending Rate

Interest Rates (Average Annual %)


2001

2002

2003

2004

2005

2.32
6.59

1.61
5.80

1.36
5.59

1.60
5.87

2.55
7.19

2001

2002

2003

2004

2.32
6.59

1.61
5.80

1.36
5.59

1.60
5.87

2000

2001

2002

2003

2004

13,523
4
13,304
215
91
13,614

14,146
2
13,918
226
91
14,237

15,219
2
14,897
321
91
15,310

15,088
1
14,732
356
15,088

18,530
5
18,209
316
18,530

Deposit Rate
Lending Rate

Source: Central Bank of the United Arab Emirates, Quarterly Statistical Bulletin, April - June 2006.

Source: Central Bank of United Arab Emirates, Quarterly Statistical Bulletin, January-March 2005.

Reserves (mn US$)

Reserves (mn US$)

Total Reserves minus Gold


SDRs
Foreign Exchange *
Reserve Position in the I.M.F.
Gold (National valuation)
Total Reserves

2001

2002

2003

2004

2005

14,146
2
13,918
226
91
14,237

15,219
2
14,897
321
91
15,310

15,088
1
14,732
356
15,088

18,530
5
18,209
316
18,530

21,010
10
20,868
133
21,010

* Includes monetary authorities' claims on non-residents in the form of foreign banknotes, bank deposits, treasury bills, short and long term government securities

Total Reserves minus Gold


SDRs
Foreign Exchange*
Reserve Position in the I.M.F.
Gold (National valuation)
Total Reserves
*

and other claims usable in the event of balance of payments need.

Includes monetary authorities' claims on non-residents in the form of foreign banknotes, bank deposits, treasury bills, short and long term government securities
and other claims usable in the event of balance of payments need.

Note: Figures may not add to total due to rounding.

Source: IMF, IFS, September 2005.

Source: IMF, IFS, November 2006.

External Debt* (mn US$)

Domestic Public Debt* (mn US$)


Debt
As % of GDP

2001

2002

2003

2004

2005

2,769
4.0%

3,938
5.3%

5,870
6.7%

8,841
8.4%

12,559
9.5%

* IMF estimates.

Debt**
of which: Short-term
*

Source : IMF, UAE Article IV Consultation Report, July 2006.

**

2000

2001

2002

2003

2004

14,187
5,551

16,430
6,285

16,057
7,621

16,662
9,597

24,332
15,087

Of both public and private borrowers.


Bank loans and non-bank trade credits (ofcial and ofcially guaranteed).

Source: Joint BIS-IMF-OECD-World Bank External Debt Database, June 2005 (www.oecd.org).

External Debt* (mn US$)


Debt **
of which: Short-term

2001

2002

2003

2004

2005

16,430
6,285

16,057
7,621

16,678
9,597

24,304
14,735

38,288
20,265

* Of both public and private borrowers.


** Bank loans and non-bank trade credits (ofcial and ofcially guaranteed).
Source: Joint BIS-IMF-OECD-World Bank External Debt Database, June 2006 (www.oecd.org).

United Arab Emirates


Population by Emirate* ('000)

Population by Emirate* ('000)


2005 **

2001

2002

2003

2004

Abu Dhabi
% of total

1,362
39%

1,470
39%

1,591
39%

1,678
39%

1,292
34%

Dubai
% of total

1,029
29%

1,112
30%

1,204
30%

1,306
30%

1,200
32%

Sharjah
% of total

562
16%

599
16%

636
16%

678
16%

725
19%

Ajman
% of total

196
6%

215
6%

235
6%

258
6%

190
5%

Umm Al-Quwain
% of total

52
1%

59
2%

62
2%

68
2%

46
1%

Fujeirah
% of total

106
3%

112
3%

118
3%

127
3%

119
3%

Ras Al-Khaimah
% of total

181
5%

187
5%

195
5%

205
5%

198
5%

Total Population

3,488

3,754

4,041

4,320

2000

2001

2002

2003

2004P

Abu Dhabi
% of total

1,266
39%

1,362
39%

1,470
39%

1,591
39%

1,678
39%

Dubai
% of total

952
29%

1,029
29%

1,112
30%

1,204
30%

1,306
30%

Sharjah
% of total

529
16%

562
16%

599
16%

636
16%

678
16%

Ajman
% of total

179
6%

196
6%

215
6%

235
6%

258
6%

Umm Al-Quwain
% of total

49
2%

52
1%

59
2%

62
2%

68
2%

Ras Al-Khaimah
% of total

172
5%

181
5%

187
5%

195
5%

205
5%

Fujeirah
% of total
Total Population

100
3%
3,247

106
3%
3,488

112
3%
3,754

118
3%
4,041

127
3%
4,320

Mid-year estimates.
Provisional.

3,770 @

Source: Central Bank of United Arab Emirates, Annual Report 2004 and previous issues.

* Mid-year estimates.
** Preliminary results of population, housing and establishments Census 2005 of the UAE, published in 2006.
@

Results do not include 335,615 that were not counted in the Census. If gure is added, total population of the UAE is 4,106 thousand.

Note: Figures may not add to total due to rounding.


Source: Central Bank of the United Arab Emirates, Annual Report 2004 and Ministry of Economy, UAE 2005 Census Report.

Gulf Investment Corporation GCC Economic Statistics Sixth Edition 2006

Note: Totals may not add up due to rounding.

74 | 75

Labor Force ('000)

Labor Force ('000)


@

2005*

2001

2002

2003

2004

Abu Dhabi
% of Total

766
39.7%

833
38.3%

879
37.7%

1,082
39.6%

1,198
39.9%

Dubai
% of Total

627
32.5%

772
35.5%

859
36.8%

908
33.2%

997
33.3%

Sharjah
% of Total

281
14.6%

301
13.8%

312
13.4%

386
14.1%

415
13.8%

Ajman
% of Total

71
3.7%

75
3.4%

82
3.5%

156
5.7%

174
5.8%

Umm Al Quwain
% of Total

25
1.3%

26
1.2%

27
1.2%

38
1.4%

41
1.3%

Ras Al Khaimah
% of Total

98
5.1%

103
4.7%

106
4.5%

98
3.6%

105
3.5%

Fujeirah
% of Total

61
3.1%

66
3.0%

69
3.0%

63
2.3%

67
2.4%

Total Labor Force


@

1,930

2,176

2,334

2,732

Revised

* Estimates provided by Statistical Dept. in the Ministry of Planning.


Note: Figures may not add to total due to rounding.
Source: Ministry of Planning, Statistical Dept., The United Arab Emirates in gures 2003 and Ministry of Economy, Central Statistics Department.

2,997

2000

2001

2002

2003@

2004P

Abu Dhabi
% of Total

696
40.0%

766
39.7%

833
38.3%

879
37.7%

923
37.5%

Dubai
% of Total

550
31.6%

627
32.5%

772
35.5%

859
36.8%

913
37.1%

Sharjah
% of Total

262
15.0%

281
14.6%

301
13.8%

312
13.4%

327
13.3%

Ajman
% of Total

65
3.7%

71
3.7%

75
3.4%

82
3.5%

85
3.5%

Umm Al Quwain
% of Total

22
1.3%

25
1.3%

26
1.2%

27
1.2%

28
1.1%

Ras Al Khaimah
% of Total

90
5.2%

98
5.1%

103
4.7%

106
4.5%

111
4.5%

Fujeirah
% of Total
Total Labor Force

53
3.1%
1,739

61
3.1%
1,930

66
3.0%
2,176

69
3.0%
2,334

72
2.9%
2,459

Revised

Provisional

Note: Totals may not add up due to rounding.


Source: Ministry of Planning, Statistical Dept., The United Arab Emirates in gures 2003 and National Abstract 2001-04, (www.uae.gov.ae).

United Arab Emirates


Consumer Price Index (Y/Y % Change)

Consumer Price Index (Y/Y % Change)


2001

2002

2003

2004

2005

2000

2001

2002

2003

2004

2.7

2.9

3.1

5.0

6.2

1.4

2.7

2.9

3.1

4.7

Source: Central Bank of the UAE, Statistical Bulletin, April - June 2006.

Source: Central Bank of UAE, Statistical Bulletin, January-March 2005.

Stock Market* (mn US$)

Stock Market* (mn US$)

Total Market Capitalization


GIC Emirates Index (Y/Y % change)

2001

2002

2003

2004

2005

27,800
36.4

36,900
20.7

48,850
32.2

96,520
114.1

175,199
140.9

Total Market Capitalization


GIC Emirates Index (Y/Y % change)

2000

2001

2002

2003

2004

21,840
-16.2

27,800
36.4

36,900
20.7

48,850
32.2

96,520
114.1

*Year-end data. Stock Market capitalization includes 38 public joint stock companies listed in ADSM, DFM and OTC market.

Note: Dubai Financial Market (DFM) started on Mar. 26, 2000 and Abu Dhabi's ofcial stock market was opened on 15 Nov. 2000.

Note: Dubai's ofcial stock market (DFM) started on Mar. 26, 2000 and Abu Dhabi's ofcial stock market was opened on 15 Nov. 2000.

Source: National Bank of Abu Dhabi and GIC Equity Research.

Source: National Bank of Abu Dhabi and GIC Equity Research.

Average Oil Production ('000 b/d)

Average Oil Production ('000 b/d)

Year-end data. Stock Market capitalization includes 38 public joint stock companies listed in ADSM, DFM and OTC market.

2001

2002

2003

2004

2005

2000

2001

2002

2003

2004

2,115

1,900

2,248

2,344

2,378

2,175

2,115

1,900

2,248

2,344

2000

2001

2002

2003

2004

27.75

23.02

24.87

28.29

36.65

Source: OPEC Annual Statistical Bulletin 2005.

Source: OPEC Annual Statistical Bulletin 2004.

Crude Oil Prices (Year Average) (US$/bl)

Crude Oil Prices (Year Average) (US$/bl)

Murban

2001

2002

2003

2004

2005

24.02

24.87

28.25

36.65

54.09

Source: OPEC Annual Statistical Bulletin 2005.

Source: OPEC Annual Statistical Bulletin 2004.

Foreign Direct Investment (mn US$)


(1)

Inward Flow
Outward Flow
Inward Stock (2)
Outward Stock (3)

Murban

2001

2002

2003

2004

2005

1,184
201
2,246
1,021

1,307
407
3,552
1,428

4,256
991
7,808
2,419

8,359
1,007
16,168
3,426

12,000
6,661
28,168
10,087

Note:
(1) FDI inows contain three components: equity capital, reinvested earnings and intra-company loans.
(2) Estimated by accumulating ows since 1970.
(3) Estimated by accumulating ows since 1997.

Source: UNCTAD, World Investment Report 2006.

Gulf Investment Corporation GCC Economic Statistics Sixth Edition 2006

76 | 77

United Arab Emirates


Balance of Payments (bn US$)
Current Account Balance
Current Account as % GDP
Trade Balance
Oil Exports
Gas Exports
Petroleum Products Exports
Free Zone Exports
Other Exports *
Re-exports
Total Exports & Re-Exports (f.o.b.)
Total Imports (f.o.b.)
Income & Services (net) **
Investment Income (net)
Transfers (net)
Capital and Financial Account (Net)
Public Sector Loans & Equity Participation
Private Sector Investments Capital
Portfolio Investment
Net Errors & Omissions
@

Revised.

Provisional.

Balance of Payments (bn US$)


@

2001

2002

2003

2004

2005

8.75
12.6%
10.28
18.09
2.99
n.a.
6.79
5.76
13.94
47.57
-37.29
2.68
5.06
-4.21

3.41
4.6%
14.63
16.68
3.28
3.24
8.27
2.36
18.34
52.17
-37.53
-7.72
0.93
-4.42

7.55
8.6%
21.31
22.12
3.91
3.54
11.26
2.88
23.43
67.14
-45.82
-9.06
-0.04
-4.66

10.59
10.1%
27.56
29.63
4.75
4.42
14.32
4.00
33.88
91.00
-63.43
-12.08
0.16
-5.06

26.48
20.0%
44.33
43.50
5.78
5.77
17.41
5.01
37.99
115.45
-71.12
-13.57
1.61
-5.88

-8.26
0.06
-1.05
n.a.
-7.27

-1.50
0.64
-2.14
0.25
-2.32

-6.70
-10.62
3.93
n.a.
0.43

-6.50
-18.59
12.09
2.00
-0.60

-18.70
-31.23
12.53
6.09
-5.19

* Includes estimated values of petroleum products, fertilizers, lubricants and other exports of each Emirate.
** Includes tourism, travel and government services.
Notes:

Current Account Balance


Trade Balance
Oil Exports
Gas Exports
Total other Exports (f.o.b.)
Free Zone Exports
Other Exports*
Re-exports
Total Exports & Re-Exports
Total Imports
Income & Services (Net)**
Investment Income (Net)
Transfers (net)
Capital Account (Net)
Ofcial Loans & Equity Participation
Short-Term Private Capital
Government Institutions, Private Capital Flow &
Net Errors & Omissions
Overall surplus (+) or Decit (-)
Changes in Reserves {(-) Indicates Increase}
Net Foreign Assets with the Central Bank
IMF Reserve Position
@

Revised.

Provisional.

*
**

2000

2001

2002

2003@

2004P

13.75
14.82
21.64
3.80
11.28
5.50
5.79
13.11
49.84
-35.01
0.69
5.09
-3.96
-10.92
0.05
-0.93

9.95
11.48
17.75
3.58
13.51
6.79
6.71
13.94
48.77
-37.29
2.68
5.06
-4.21
-9.46
0.06
-1.05

3.41
14.63
19.92
3.28
10.63
8.27
2.36
18.34
52.16
-37.53
-7.72
0.93
-4.42
-1.50
0.64
-2.14

7.55
21.31
25.65
3.91
14.14
11.26
2.88
23.43
67.14
-45.82
-9.06
-0.04
-4.66
-5.33
5.29
-10.62

12.94
28.55
33.75
4.69
16.59
13.04
3.53
27.71
82.75
-54.20
-10.82
0.25
-5.06
-5.78
10.84
-16.61

-10.04
2.83
-2.83
-2.91
0.08

-8.47
0.48
-0.48
-0.47
-0.01

-2.32
-0.41
0.41
0.50
-0.09

-0.93
1.29
-1.29
-1.25
-0.04

-3.67
3.49
-3.49
-3.53
0.04

Includes estimated values of petroleum products, fertilizers, lubricants and other exports of each Emirate.
Includes tourism, travel and government services.

Negative signs indicate outows while positive signs indicate inows.

the value of goods at the border of the exporting country; in the case of imports, this excludes the cost of freight and insurance incurred beyond the border of

Notes:

the exporting country.

Negative signs indicate outows while positive signs indicate inows.

the value of goods at the border of the exporting country; in the case of imports, this excludes the cost of freight and insurance incurred beyond the border of

Source: Central Bank of the United Arab Emirates, Quaterly Statistical Bulletin, April - June 2006 and various issues.

the exporting country.


Source: Central Bank of the United Arab Emirates, Statistical Bulletin, January - March 2005 and various issues.

Main Destinations of Exports (f.o.b.)


Partner

2001

2002

2003

2004

2005

Japan
Korea
India
Japan
Korea
Singapore
Japan
Korea
Thailand
Japan
Korea
Thailand
Japan
Korea
Thailand

Value (mn US$)

% of Exports

12,897
4,212
2,173
10,552
3,827
1,429
13,024
4,640
1,844
16,658
6,627
3,465
22,887
9,108
5,181

31%
10%
5%
28%
10%
4%
27%
9%
4%
30%
12%
6%
20%
8%
5%

Value (mn US$)

% of Imports

2,904
2,838
2,817
3,958
3,797
3,246
5,541
4,002
3,983
7,396
7,265
5,071
9,909
9,606
9,324

7%
7%
6%
8%
7%
6%
11%
8%
8%
14%
13%
9%
13%
12%
12%

Main Origins of Imports (c.i.f.)


Partner

2001

2002

2003

2004

2005

USA
Germany
Japan
USA
China
Japan
China
Japan
Germany
China
India
Japan
UK
China
USA

f.o.b.: The value of goods at the border of the exporting country.


c.i.f.: The value of goods, including the cost of freight and insurance, at the border of the importing country.
Source : IMF, Direction of Trade Statistics, various issues through September 2006.

Gulf Investment Corporation GCC Economic Statistics Sixth Edition 2006

78 | 79

United Arab Emirates


Trade with GCC Countries* (mn US$)
Exports to

Bahrain
Kuwait
Oman
Qatar
Saudi Arabia
Imports from

Bahrain
Kuwait
Oman
Qatar
Saudi Arabia

Trade with GCC Countries* (mn US$)


2001

2002

2003

2004

2005

112
275
1,505
199
520

119
260
1,419
187
490

144
289
1,579
186
546

191
332
1,484
345
1,079

260
441
1,970
458
1,432

2001

2002

2003

2004

2005

152
104
27
139
977

162
105
24
129
1,047

180
116
18
144
1,164

321
204
29
678
1,564

409
271
38
900
2,076

*Discrepancies in trade statistics are caused by: Classication concepts and details, time of recording, valuation, coverage and
Source : IMF, Direction of Trade Statistics, various issues through September 2006.

processing errors.

Exports to

Bahrain
Kuwait
Oman
Qatar
Saudi Arabia
Imports from

Bahrain
Kuwait
Oman
Qatar
Saudi Arabia
*

2000

2001

2002

2003

2004

104
284
1,551
205
536

112
275
1,505
199
520

119
260
1,419
187
490

144
289
1,579
186
546

191
332
1,484
345
1,079

2000

2001

2002

2003

2004

122
86
3
95
921

152
104
27
139
977

162
105
24
129
1,047

180
116
18
144
1,164

321
204
29
678
1,564

Discrepancies in trade statistics are caused by: Classication concepts and details, time of recording, valuation, coverage and processing errors.

Source : IMF, Direction of Trade Statistics, various issues through September 2005.

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