Top 10 Richest Arab Countries May 2024

Do you know which is the richest Arab Country?

In 1945 the Arab League was created. Arab League is a union formed in Cairo to develop independence, affairs, supremacy, and interest of its member countries. It consists of Arab-speaking countries in Africa and Asia. These Arab League countries are; Saudi Arabia, Qatar, Oman, Morocco, Libya, Mauritania, Palestine, Somalia, Lebanon, Kuwait, Jordan, Sudan, Algeria, Syria, Bahrain, Comoros, Djibouti, Tunisia, The United Arab Emirates, Egypt, Yemen, and Iraq. We will compile a list of the top 10 richest countries of the Arab League with their GDP per capita. Gross domestic is a financial measure or valuation of the market with final goods and services from the economy of a country over a given period(per year).

Here is the list of the 10 richest Arab countries;

Richest Arab countries May 2024

Qatar is the richest Arab country. It has a GDP per capita of $89,948.60 thus becoming the first on the list of the top 10 richest Arab Countries. The next on the list is the United Arab Emirates with a GDP of $69,957.60 per capita.

Check out the list down here and get to know which other countries are the richest in Arab League;

Top 10 richest Arab countries May 2024

1.Qatar – $89,948.60 GDP per capita

Qatar is a well-known country mostly because of being one of the wealthiest and you will find Qatar in most lists of the richest countries in the world. The rate of unemployment in Qatar is the lowest in the world at one percent. The population here is just over 2.9 million.

Qatar’s products such as oil, natural gas, and mining move the economy together with services like finance, real estate, insurance, business services, and hotels & restaurants.

2.United Arab Emirates –  $69,957.60 GDP per capita

Two major things that drive the economy in UAE are petroleum and natural gas and services like tourism and lifestyle contributes also to the growth of the economy.

3.Kuwait –  $51,962.00 GDP per capita

The economy of Kuwait is mainly grown by petroleum exports and also steel manufacturing.

4.Saudi Arabia – $46,762.50 GDP per capita

Saudi Arabia is one of the most prosperous country in the world due to its high GDP per capita. It’s one of the richest countries in the world. The production and exportation of petroleum help with driving the economy.

5.Bahrain – $43,181.20 GDP per capita

Bahrain’s economy rises because of the production of natural gas, petroleum products, and exports of aluminum products. Services like tourism attractions also move the economy.

6.Oman – $28,448.90 GDP per capita

The country’s wealth highly depends on oil production this makes Oman one of the richest countries in the world

7.Egypt, Arab Republic – $12,607.80 GDP per capita

Tourism and other activities along the Nile River in Egypt aid the growth of the economy. Manufacturing and agriculture also contribute to the moving of the economy.

8.Lebanon –  $12,288.80 GDP per capita

Trade and agriculture are the drivers of the economy here. Lebanon has an archaeological heritage hence the tourism activities here.

9.Algeria – $11.268.30 GDP per capita

Algeria is the 10^th largest natural gas reserve hence becoming one of the wealthy countries. Algeria is one of the largest exporters of natural gas thus the reason for a moving economy

10. Libya – $10,846.90 GDP per capita

Libya’s main source of income is oil revenues. When you hear of Libya oil comes to your mind. Production of natural gas is also an economic booster in Libya.

Review of the richest Arab Countries May 2024

1.Qatar

2.United Arabs Emirates

3.Kuwait

4.Saudi Arabia

5.Bahrain

6.Oman

7.Egypt

8.Lebanon

9.Algeria

10.Libya

Summary

Richest Arab Countries

Article Name; Top Richest richest Arab countries

Description; Qatar is the richest Arab country with a GDP per capita of $89,948.60 and UAE follows with a GDP per capita of  $69,957.60 while Kuwait comes on third place with a GDP  Per capita of $51,962.00.

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