Iraq is the sixth largest economic country in the Middle East
Iraq is the sixth largest economic country in the Middle East
Friday, January 4, 2019 11:43 am
Saudi Arabia topped the Middle East as the largest economy in 2018 in terms of gross domestic product (GDP) at current “nominal” prices of $ 784 billion.
According to the analysis of the report unit in the newspaper “Economic” based on the data of the site spectator index and local statistical bodies of countries, Turkey came second with a nominal gross domestic product of $ 713 billion.
In third place came the UAE with a nominal GDP of $ 432 billion, Iran with $ 430 billion and Egypt with $ 249 billion.
Nominal GDP is the market value of the total final goods and services produced in a given country at current market prices.
Saudi Arabia’s gross domestic product (GDP) is expected to grow at current prices by 6.4 percent in 2019 to 3.13 trillion riyals.
By returning to the Middle East nominal GDP ranking in 2018, Iraq ranked sixth with a domestic output of $ 230 billion, followed by Qatar with $ 188 billion, Kuwait with $ 144 billion and Oman with $ 81 billion.
Lebanon ranked $ 10 billion, followed by Libya with $ 43 billion, Jordan with $ 41 billion, Bahrain with $ 39 billion and Yemen with $ 28 billion.
The Middle East is a geopolitical term for a geographical region located in the western part of Asia and part of North Africa. These countries are characterized by the Mediterranean, the Red Sea, the Arabian Sea and the Gulf. This term has been used since the 1950s 19th century AD. End 3
aynaliraqnews.com
