Dept. of Finance, College of Business Administration, Alkharj, Riyadh, King Saud University, P.O.Box 165, KSA-11942
The six countries of the Guii Co-operation Council-GCC (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and UAE) are enjoying a spectacular economic boom-one that we expect to continue over the medium term. The GCC economy was set to surge past $1 trillion in nominal terms in 2008, marking a three-fold increase in only five years. This will push the GCC economypast that of South Korea and put it on par with India. The contribution of the non-oil sector has been more vigorous and more stable, and has been the engine of the cun-entt>oom. This article attempts to analyze the economic development of GCC countries in terms of economic & financial Indicators and cmde oil production.
