Table 2. GCC: Basic Economic Indicators, 1975-94 1
 
1975-80 1981-85 1986-89 1990-91 2 1992-94
(In percent per annum)
Real GDP growth 9.6 -2.7 1.7 8.9 1.7 2
   Oil ... -11.7 9.4 18.5 0.2 2
   Non-oil ... 4.5 1.2 4.7 1.9 2
Inflation 10.7 0.5 0.6 3.2 1.4
(In percent of GDP)
Budget
  Total revenue 55 51 38 38 35
      of which: oil and
      gas revenue		 ... 37 23 30 27
  Total expenditure 45 52 50 52 46
      Current ... 24 35 36 38
      Capital ... 21 13 7 7
  Overall surplus/deficit (-) 10 -1 -4 -13 -10
Balance of payments
  Exports 78 62 49 56 50
  Imports 44 51 46 49 48
  Trade account surplus 34 11 3 7 2
  Current account
  surplus/deficit (-)		 19 7 -1 -7 -6
  Overall surplus/deficit (-) 3 1 -2 -- -3

Sources: IMF, World Economic Outlook; IMF, International Financial Statistics; and staff estimates.

1. GDP-weighted averages.
2. Excluding Kuwait.

Return to Overview of Economic Developments and Policies, 1981-95

Return to the Table of Contents