JEDDAH: The Gulf Cooperation Council achieved a trade volume of $1.5 trillion, securing its position as the sixth-largest global trader, according to the latest data.

This figure represents 3.4 percent of global trade, highlighting the region’s growing economic importance. However, the GCC saw a 4 percent decline in trade volume compared to 2022, as reported in the 2023 GCC Foreign Trade Report issued by the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf.
source

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

SAMA to host 43rd IFSB council meeting in Jeddah  

RIYADH: The role of Shariah-compliant funding in fostering sustainable economic growth will…

‘Headquarters of your life’ coming to Saudi Arabia, says Wyndham Hotels regional president

RIYADH: Global collaborations are a crucial element in efforts to tackle economic…

MAGRABi restructures board for global governance standards

RIYADH: Eyewear retailer MAGRABi is reworking its board structure by introducing industry…

Saudi Arabia is a regional powerhouse and global policy shaper: World Bank official 

RIYADH: Mobility firm Dubai Taxi Co. has commenced its subscription period for its upcoming…