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The whole GDP of Arab world is less than the GDP of many developed countries. The oil of Middle Eastern countries is eventually giving profits to the…
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Comparison of GDP of Arab World and other developed Countries GDP of Arab League $2,309. 8262 Billion Israel $239.8 Billion Occupied Palestine $6.64 Billion
France
$2,734 Billion
Germany
$3,550 Billion
Italy
$2,164 Billion
Japan
$5,773 Billion
United States
$14,830 Billion
Figures are clearly representative of the fact that the Arab world are not doing extremely good compared to the developed world. The whole GDP of Arab world is less than the GDP of many developed countries. The oil of Middle Eastern countries is eventually giving profits to the western world and Arab countries are not getting enough money. This is mainly because Arab world has not invested in its industries. Arab world is currently relying on its oil reserves instead of building factories and developing its industries. This is not the case in United States and other western countries as they have built a strong industrial base. They buy large amount of oil from Arab world in order to run their factories and this is why their GDP is high. Arab countries are lagging behind the western world because they are not pursuing good economic policies.
GDP of Israel is much higher than that of Palestine and this shows the plight of Palestinian people. Israel has built a strong economy and has good relations with the western world which is why it enjoys a strong economic position. Palestinian people are not getting the same amount of support from Arab world. Western countries support Israel while Palestine is not supported by Arab world in the same manner.
References
Central Intelligence Agency. (2013). CIA World Fact book. Retrieved on September 12, 2013 from https://www.cia.gov/library/publications/the-world-factbook/index.html Read More
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