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Industrial Investments in the Gulf Cooperation Council Countries Reach $426 Billion
Economy

Industrial Investments in the Gulf Cooperation Council Countries Reach $426 Billion

منبع تصویر: kuwaittimes.com

By Khalij News Agency Editorial 2 min Read time 38,387

Industrial investments in the Gulf Cooperation Council (GCC) countries reached approximately $426 billion by the end of July last year. This statistic, published by the GCC Statistical Center, reflects the growth and expansion of the industrial base in this region.

Number of Factories and Workforce

The GCC Statistical Center reported that this entity refers to more than 22,000 factories in member countries, which collectively employ over 1.7 million workers. Additionally, manufacturing industries account for about 13 percent of the gross domestic product (GDP) of this bloc in 2025.

Concentration of Industrial Investments

About 40 percent of industrial investments are concentrated in key industries. These industries mainly include refined petroleum products, aluminum, gas-based fuels, iron and steel, and plastics. The report from the Statistical Center highlights the importance of these industries in forming a crucial base for manufacturing and intermediaries, emphasizing that these industries contribute to the integration of industrial value chains.

Industrial products account for approximately 69 percent of the total exports of the Gulf Cooperation Council, which include gas liquids and hydrocarbons, refined oils, vehicles, organic compounds, aluminum, ships and boats, and electrical equipment and machinery. China is recognized as the largest source of imports for the Gulf Cooperation Council, supplying about 20 percent of the total imports of this bloc. The most significant imports include equipment, machinery, vehicles, pharmaceuticals, iron and steel, and plastics.

Diversity and Variety in the Industrial Base

The GCC Statistical Center stated that these statistics reflect the breadth and diversity of the Gulf's industrial base, with significant differences in industrial activities among member countries regarding investment and the number of factories. The industry is a key sector in supporting economic growth, developing value chains and production, and deepening industrial integration among the Gulf Cooperation Council countries. These efforts contribute to economic diversification, increasing the share of non-oil activities, and making Gulf products more competitive.

The GCC Statistical Center was established in 2011 and is headquartered in Muscat, Oman. This entity is recognized as the official reference for data and statistical information regarding the Gulf Cooperation Council countries.

Source: kuwaittimes.com