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The GCC Countries Economic Performance - Assignment Example

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This paper 'The GCC Countries Economic Performance' tells us that the GDP that relates to the Gross Domestic Product is the total value of all commodities; goods and services that a nation yields within its borders every year. The GDP of the GCC countries tends to reduce from the year 2007 as time progresses except for a few cases…

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Subject: Macro & Microeconomics
Type: Assignment
Level: Ph.D.
Pages: 1 (250 words)
Downloads: 2
Author: alfredo51

Extract of sample "The GCC Countries Economic Performance"

The GDP per capita depicts the value that each citizen within the country’s borders produces. The indicator is used to show the standards of living of the population. As per the data above, the GDP per capita reduces from the year 2007 to the year 2011. The scenario is even though the values do not differ too much from country to country.

The inflation level in all the GCC countries has been on the rise from the year 2007. The implications are that the prices of normal goods and services are on the rise over the years. In some of the countries, the figure has grown over four times. For instance, in the case of Kuwait, the inflation indicator in 2007 is 4.3 while for the year 2011 it is 21.3. The Genuine Progress Indicator thus depicts a scenario whereby the countries tend to experience negative growth whereas some of the countries are in stagnation in terms of economic development.

Table 1: Selected GCC Countries Economic Performance

Bahrain

2007

2008

2009

2010

2011

GDP growth (annual %)

8.3

6.2

2.5

4.3

2.1

GDP per capita (constant 2005 US$)

17,835.00

17,526.50

16,833.90

16,722.20

16,528.60

Inflation, GDP deflator (annual %)

8.4

11.4

-13

7.4

10.6

Saudi Arabia

2007

2008

2009

2010

2011

GDP growth (annual %)

8.4

1.8

7.4

8.6

GDP per capita (constant 2005 US$)

14,182.80

15,115.20

15,144.60

15,994.80

17,050.70

Inflation, GDP deflator (annual %)

4.2

15.3

-18.9

14.3

17.1

Kuwait

2007

2008

2009

2010

2011

GDP growth (annual %)

2.5

-7.1

-2.4

6.3

GDP per capita (constant 2005 US$)

34,040

34,920.50

30,765.80

28,615.90

29,123.80

Inflation, GDP deflator (annual% %)

4.3

18.7

-17.2

15.5

21.3

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