Kuwait 6th largest Arab economy with GDP of $178 bln

Blooming Kuwait Economy

A report issued by the Washington-based Institute for International Finance (IIF) showed that Saudi Arabia remained the largest economy in the region with gross domestic product (GDP) of around $640 billion in 2012 mainly because of its massive oil output which reached one of its highest annual averages of 9.8 million bpd last year. The UAE remained the second largest Arab economy after its GDP swelled by $23 billion in current prices, according to a Western report.

Egypt emerged as the third largest Arab economy with a GDP of around $ 257 billion, followed by Algeria with $ 197 billion, Qatar with $ 182 billion and Kuwait with around $ 178 billion.

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