This statistic shows gross domestic product (GDP) of the MENA countries in 2024. The MENA region in North Africa and the Middle East comprises the countries Algeria, Bahrain, Egypt, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Qatar, Saudi Arabia, Syria, Tunisia, United Arab Emirates, and Yemen. In 2024, the GDP of Saudi Arabia amounted to approximately 1.085 trillion U.S. dollars.

This statistic shows gross domestic product (GDP) of the Arab world in 2023. In 2023, GDP of Algeria amounted to approximately 247.79 billion U.S. dollars.

In 2025, Luxembourg was the country with the highest gross domestic product per capita in the world. Of the 20 listed countries, 13 are in Europe and five are in Asia, alongside the U.S. and Australia. There are no African or Latin American countries among the top 20. Correlation with high living standards While GDP is a useful indicator for measuring the size or strength of an economy, GDP per capita is much more reflective of living standards. For example, when compared to life expectancy or indices such as the Human Development Index or the World Happiness Report, there is a strong overlap - 14 of the 20 countries on this list are also ranked among the 20 happiest countries in 2024, and all 20 have "very high" HDIs. Misleading metrics? GDP per capita figures, however, can be misleading, and to paint a fuller picture of a country's living standards then one must look at multiple metrics. GDP per capita figures can be skewed by inequalities in wealth distribution, and in countries such as those in the Middle East, a relatively large share of the population lives in poverty while a smaller number live affluent lifestyles.

As of 2022, the share of national wealth held by the richest 10 percent in low-income countries in the Middle East and North Africa (MENA) amounted to **** percent of the total. In comparison, the share of national wealth for the richest 10 percent in 2000 in MENA low-income nations was **** percent.

The discovery of oil has had a huge impact on economics and politics within the Middle East, as well as the region’s relationship with the west and the way regional standards of living. Before the discovery of oil, fishing and pearling were the primary economic sectors of many Gulf States. After the discovery of oil and due to the immense value of oil, many Middle East countries made oil their economic focus, changing livelihood of their people in just a few decades. One example is Kuwait, whose economy focused mainly on fishing and pearling prior to the discovery of oil in 1934. Now, oil extraction and processing accounts for 50% of the country’s GDP, 90% of export earnings, and 75% of government revenues1. Typically, the more oil a country exports the less economically diverse it is. Booz & Company did a study to look at the economic diversity of the Gulf States, which are very oil-rich, in comparison to the rest of the world, and found that the economic diversity of the GCC (the countries of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates) was much lower than that of European or other “western” states3. Since oil is a nonrenewable resource it will become important for these countries to diversify their economies and become independent of oil as reserve levels decline. Recently, attempts of economic diversification have been made in several oil diverse nations such as the aluminum smelting industry in Bahrain, Qatar, and the UAE, taken up as an attempt to diversify their economy6; however, the reason that the industry of aluminum smelting has grown in these counties is because aluminum smelting requires immense amounts of oil. Therefore, the economics of these counties is in reality not that diversified. The Export Diversity Index is defined as the number of prominent commodities a country exports. Goods made from the same derivative, such as crude oil and petroleum products, were categorized as belonging in the same industry for simplicity purposes. The data represented in the map was obtained from lists of each country's ten most lucrative exports, and the index ranges on a scale of 1 to 10 different exports4. We noticed that the countries with the greatest volume oil resources had the lowest score on the index because more goods they produced were related to the oil industry. The map of oil reserves gives a good visual representation of which Middle Eastern countries are the most oil-rich, and shows a high concentration of marks in the Gulf states, particularly the in the Persian Gulf where off-shore reserves are located. The countries with the lowest score on the index were Saudi Arabia (with a score of 2), Kuwait (4), Bahrain (2), and Qatar (2). It is interesting to note that although other countries may have high concentrations of certain resources within their borders it is only the oil-rich countries that have the lowest levels of export diversity. The only exceptions to this trend are countries with a government that has made particularly strong efforts to become less oil-reliant, such as the United Arab Emirates7. Although, we recognize that a country's economic diversity also accounts for its domestic economy, which generally relies heavily on the country's exports. Therefore this analysis concludes that the Export Diversity Index is an indicator of a country's economic index. The data we have compiled has implications for the future of many of the Gulf States, especially Saudi Arabia, as the international community attempts to wean itself off of fossil fuels.Amanda Doyle, March 2012WORKS CITED1.“Kuwait Economy”. Encycopedia of the Nations, Advameg, Inc. 2011. http://www.nationsencyclopedia.com/Asia-and-Oceania/Kuwait-ECONOMY.html.2.Burke, Edmund, and Yaghoubian, David N. Struggle and Survival in the Modern Middle East. 2nd ed. University of California Press: Berkley, CA, 2006.3.“Economic Diversification”. The Ideation Center. 2011. http://www.ideationcenter.com/home/ideation_article/economic_diversification.4."UN Data: Country Profile”. UN Division of Statistics, United Nations. 2011. http://data.un.org/CountryProfile.aspx5."USGS identifies potential giant oil and gas fields in Israel/Palestine”. EnerGeoPolitics. 2010. http://energeopolitics.com/2010/04/09/usgs-identifies-potential-giant-oil-and-gas-fields-in-israelpalestine/6. "A Summary of Existing and New-Buuild Smelters in the Middle East". Aluminium International Today. January /February 2009. http://www.improvingperformance.com/papers/Primary%20Article%20AIT.pdf.7. "UAE to Diversify Economy - To Reduce Dependence on Oil and Natural Gas Revenues". Oil Gas Articles. 2011. http://www.oilgasarticles.com/articles/416/2/UAE-to-Diversify-Economy---To-Reduce-Dependence-on-oil-and-Natural-Gas-Revenues/Page2.html?PHPSESSID=e10561d4a9d2cf87f64fbdeb2e00f65d.

■Objectives and Overview The purpose of this grant is to strengthen economic relations with oil- and gas-producing countries in the Middle East and to contribute to the stable supply of oil, gas and petroleum products in our country by promoting investment in oil- and gas-producing countries in the Middle East and other countries by subsidizing part of the expenses of the Investment Promotion Project conducted by subsidized entity. (Taken from the grant outline)

■ Eligibility Must be a private sector who: * For consortium-style applications, you must select an organizer and the organizer must submit a business proposal. (However, the organizer cannot entrust all the work to another person.) (1) The company has a long track record of activities in the Middle East, is well known locally, and has close cooperative relationships with local governmental organizations. (2) The applicant must have experience in conducting surveys and research in Middle East oil-producing countries in the past, have close connections with Japanese companies and industries that have a desire to expand into Middle East oil-producing countries, and be able to grasp the needs of such companies and industries, and have sufficient capabilities for the implementation of this project. (3) The applicant shall have the ability to receive and execute orders for all businesses collectively from the perspective of organically integrating individual businesses included in the Business and increasing the effectiveness and efficiency of the overall business. (4) The foreign national has a base in Japan. (5) The Company shall have the organization and personnel to properly execute the Business. (6) The applicant shall have a management base necessary for the smooth execution of the Business and sufficient management capability for funds, etc. (7) The applicant is not subject to suspension of issuance of grant certificates, etc. or suspension of designation from the the Ministry of Economy, Trade and Industry.

■ Contact: 1 - 3 - 1, Kasumigaseki, Chiyoda-ku, Tokyo 100 -8901 Middle East and African Division, Trade Policy Bureau, the Ministry of Economy, Trade and Industry Yamada E-mail: bzl-chuto-hojo@meti.go.jp

■ Reference URL: https://www.meti.go.jp/information/publicoffer/kobo/2025/k250214005.html

■Purpose and Overview

The purpose of this grant is to strengthen economic relations with oil- and gas-producing countries in the Middle East, etc., by promoting investment in oil- and gas-producing countries in the Middle East, etc., with the State subsidizing a part of the cost of the project to promote investment in oil- and gas-producing countries in the Middle East, etc., conducted by subsidized entity, and thereby to contribute to the stable supply of oil, gas and petroleum products in our country. (taken from the grant outline)

■ Eligibility

private sector must meet the following requirements:

• In the case of a consortium application, the organizer must be selected and submit the project proposal. (However, the organizer cannot entrust all the work to another person.)

(1) The company has a long track record of activities in the Middle East, is well known locally, and has close cooperative relationships with local governmental organizations.

(2) The applicant must have experience in conducting surveys and research in Middle East oil-producing countries in the past, have close connections with Japanese companies and industries that have a desire to expand into Middle East oil-producing countries, and be able to grasp the needs of such companies and industries, and have sufficient capabilities for the implementation of this project.

(3) The applicant shall have the ability to receive and execute orders for all businesses collectively from the perspective of organically integrating individual businesses included in the Business and increasing the effectiveness and efficiency of the overall business.

(4) The foreign national has a base in Japan.

(5) The Company shall have the organization and personnel to properly execute the Business.

(6) The applicant shall have a management base necessary for the smooth execution of the Business and sufficient management capability for funds, etc.

(7) The applicant is not subject to suspension of issuance of grant certificates, etc. or suspension of designation from the the Ministry of Economy, Trade and Industry.

■ Contact:

1 - 3 - 1, Chiyoda-ku, Tokyo 100 -8901

Middle East and African Division, Trade Policy Bureau, the Ministry of Economy, Trade and Industry

Contact: Futami

E-mail: bzl-chuto-hojo@meti.go.jp

■ Reference URL:

https://www.meti.go.jp/information/publicoffer/kobo/2024/k240206003.html

The Middle East Media and Entertainment market, valued at $41.13 billion in 2025, is projected to experience robust growth, with a Compound Annual Growth Rate (CAGR) of 9.41% from 2025 to 2033. This expansion is driven by several key factors. Firstly, increasing internet and smartphone penetration across the region fuels the demand for digital media consumption, particularly streaming services (SVoD, TVoD) and digital music. Secondly, a burgeoning young population with high disposable income fuels the popularity of video games and online entertainment. Thirdly, significant investments in infrastructure and technological advancements are creating a more favorable environment for media companies to operate and expand their reach. Government initiatives aimed at diversifying economies and fostering digital transformation also contribute positively. However, challenges remain. Stringent regulations on content, particularly concerning religious and cultural sensitivities, can pose limitations on market expansion. Furthermore, competition from global streaming giants requires local players to adapt and innovate to maintain market share. The market segmentation reveals a diverse landscape, with digital music, video games, video-on-demand services, e-publishing, and digital advertising being prominent segments, each contributing significantly to overall market growth. The dominance of specific segments might vary across different countries within the region due to factors like cultural preferences and regulatory frameworks. The key players in this dynamic market – including Intigral Inc, CMT Technologie, Moby Group, Eye Media LLC, beIN Media Group, Zawya Ltd (Refinitiv), Orbit Showtime Network, Arab Media Group, Abu Dhabi Media, and MBC Group – are strategically navigating these opportunities and challenges. Their success hinges on delivering engaging, localized content, leveraging technological advancements, and adapting to evolving consumer preferences. Growth is expected to be particularly strong in Saudi Arabia and the UAE, driven by high levels of digital adoption and government support for the media and entertainment sector. Other countries in the region, including Qatar, Kuwait, and Oman, also present significant opportunities for growth as digital penetration continues to increase. The forecast period (2025-2033) anticipates substantial market expansion, shaped by ongoing technological innovation and the increasing integration of media and entertainment into daily life across the Middle East. Recent developments include: March 2024 - Intigral, the media arm of STC Group, announced a partnership with Moonbug Entertainment, a subsidiary of Candle Media. The partnership aims to launch a new linear channel called "Blippi & Friends" on its streaming platforms, STC TV and Jawwy TV. The channel will be available for viewers across the MENA region., November 2023 - Arabian Publishing Media partnered with Beautiful Minds Media GmbH to bring the Madame brand to the region. This partnership combined the legacy of Madame, a luxury lifestyle brand, with Arabian Publishing Media's expertise in creating content that resonates with the market. Madame Magazine features a rich heritage, covering print, digital, social media, events, and e-commerce.. Key drivers for this market are: Growing Trends Around Personalization and Increased Digitalization, Significant Growth in Online Gaming, OTT, and Internet Advertising. Potential restraints include: Significant Increase in Piracy Leading to Loss of Revenue. Notable trends are: Internet Access Segment to Hold Major Market Share.

Crude oil-rich countries possess significant reserves of crude oil, providing them with economic and geopolitical influence. From the Middle East to Russia, Venezuela, Canada, and the United States, these nations benefit from oil exports but face challenges like price volatility and environmental consequences. Diversification and sustainable energy investments are crucial for their long-term stability.

Middle East Poultry Meat Market size was valued at USD 15 Billion in 2024 and is expected to reach USD 22 Billion by 2032, growing at a CAGR of 5% from 2026 to 2032.Key Market Drivers:Growing Population and Increasing Disposable Income: The Middle East is seeing tremendous population expansion and increasing disposable incomes, which are directly driving poultry meat consumption. According to the World Bank, the combined population of Middle Eastern countries is expected to expand by 20% by 2030, with Saudi Arabia's population growing at 1.6% every year. Furthermore, the International Monetary Fund (IMF) forecasts that the UAE's GDP per capita expanded by 17.1% between 2020 and 2023, reaching around USD 47,900, allowing consumers to buy more protein-rich diets, including poultry products.Increasing Health Awareness and Protein Demand: Due to health concerns, Middle Eastern consumers increasingly prefer poultry meat to red meat. The World Health Organization (WHO) Middle East report indicates that 65% of consumers in the region are actively seeking healthier protein alternatives, with poultry consumption rising at an annual rate of 4.2%.

This statistic depicts the number of ultra high net worth individuals in the Middle East and North Africa, by selected countries in 2013. During this time period, the number of ultra high net worth individuals in Oman was ***.

Economic development generally promotes women’s autonomy. Yet women in resource-rich autocracies fare more poorly than women in similarly wealthy industrial and postindustrial states. Some attribute this puzzling outcome to cultural causes, describing the apparent link between restrictions on women’s autonomy in resource-rich countries (especially in the Middle East) as spurious. Others argue that oil and gas rents cause a gendered resource curse through macroeconomic mechanisms. By contrast, we explain the association as a consequence of a political mechanism. We propose a theory of autocratic survival via antisocial policies chosen for the harms they inflict on targeted groups. Autocrats need to placate ideologically motivated members of their winning coalition. Antisocial policies serve as a costly and visible measure of rulers’ fidelity to these winning coalition members. Resource rents enable rulers to afford such policies, which would be infeasible in tax-reliant regimes. Restricting women’s autonomy thus forms part of a strategy of autocratic rule in resource-rich autocracies. Using quantitative evidence, we demonstrate that variations in women’s autonomy correlate with variations in oil income per capita in cross-country regressions. To trace variations within cases, we present case studies of Saudi Arabia and Iran to demonstrate processes consonant with our theory.

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Camel Meat Market Size 2024-2028

The Camel Meat Market size is projected to increase by USD 100.83 million at a CAGR of 6.32% between 2023 and 2028. The consumption of camel meat is gaining increasing recognition due to its numerous health benefits. With the growing emphasis on fitness and protein-rich diets, camel meat, which is a lean source of high-quality protein, has emerged as an attractive option for health-conscious consumers. Furthermore, the rise in global meat consumption and production trends has led to a renewed interest in this traditional meat source. Camel meat is not only rich in protein but also low in saturated fat and cholesterol, making it an excellent choice for individuals seeking to maintain a healthy lifestyle. This lean, flavorful meat offers a unique taste and texture, providing a welcome alternative to more commonly consumed meats.

Camel Meat Market: Overview

The Camel Meat Market shows an accelerated CAGR during the forecast period.

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Market Dynamics

Camel meat, characterized by its camel carcass appearance in shades of raspberry red and dark brown, offers a unique mineral profile enriched with high-fat protein and short-affixed unsaturated fats. This makes it a distinctive choice compared to dairy animals' meat or goat meat, particularly suited for regions with bone-dry situations like the desert. Consumption of camel meat is associated with potential health benefits such as low-fat substance, aiding in the management of conditions like hyperacidity, hypertension, and respiratory illnesses such as pneumonia. As demand grows, retailers or distributors play a crucial role in making camel meat accessible beyond traditional markets, catering to both local preferences and international interest in exotic meats with unique nutritional qualities. The taming of camels and their adaptation to harsh desert environments contribute to the cultural significance and sustainability of camel meat production, highlighting its role in diverse culinary traditions worldwide.

Driver

Growing focus on fitness and protein-rich diets is notably driving the market growth. The rising number of fitness centres and clubs is a new trend that is positively affecting the global camel meat market. Since meat contains high protein levels, which help in muscle gain, meat consumption has increased with an increase in consumer focus on fitness and a rise in the number of fitness centres and clubs. Camel meat is a good source of many vitamins, particularly vitamin B complex, and vital minerals such as iron, calcium, and phosphorus. Camel meat is also characterized by a low level of cholesterol as compared to other meats like beef, thereby making it a healthy food option. Thus, a growing focus on fitness and protein-rich diets will drive the growth of the global camel meat market during the forecast period.

Trends

Growing demand for luxury and exotic meats is an emerging trend shaping the market growth. The demand for luxury and exotic meats like camel meat is increasing, primarily in developed countries across North America and Europe. Also, the demand for organic meat is growing globally. Organic meat is produced by feeding livestock 100% organic feed. In the US and the UK, camel meat is often used in foods like burgers, which enjoy high popularity. Although camel meat is a staple food for many pastoral households, it is not eaten daily in Middle Eastern countries, where consumption is very high.

Moreover, in the Middle East, camel meat is eaten mostly at parties and wedding receptions. In the US, the popularity of camel meat is growing. Many supermarkets and retail chains have started offering camel meats in various cuts. Thus, the growing demand for luxury and exotic meats will drive the growth of the global camel meat market during the forecast period.

Challenge

Stringent rules and regulations and the threat of contamination are significant challenges hindering market growth. Rules and regulations pertaining to the production of meat products vary across countries. Meat and meat food items form an important part of a nation's aggregate supply of food. Most countries follow international food standards for the labelling of meat products. In Australia, the government recommends that food labelled as meat products should also have labels showing the eating quality grade. In the US, the FDA requires the manufacturers of packaged food items to mention the nutritional details on the food packs. Improper handling of supplies could lead to contamination of meat. Proof of contamination of canned foods by raw materials will affect the safety and quality of the food.

Also, It will require companies to find alternate materials for canned products, lead to delays in production, or require the products to be discarded or recalled, which could affect a company's operation and sales. Thus, the string

LTE is commercially present in about 20 countries in Africa and the Middle East. In the wealthy Gulf countries almost all mobile operators use LTE as their new basis of competition for mobile subscriptions, whereas in Africa the use of LTE is mostly limited to fixed-use cases for broadband access, following WiMAX migrations. Mobile operators in Africa are waiting for the digital dividend, scheduled for mid-2015, and the release of frequencies in the sub-1GHz spectrum before aggressive LTE deployments. Until then, pure broadband LTE companies have a window of opportunity to expand their subscriber bases, while Internet companies, such as Microsoft and Google, will have time to lobby for the utilization of TV white spaces. In the Gulf markets, pricing of mobile data is often uniform across 3G and LTE networks, while in Africa, the arrival of LTE broadband brought with it a wave of segmentation in the packaging and pricing of mobile data, for instance through data sharing and time-of-day packages. Although network sharing or wholesale LTE networks are possibilities, unfavorable competitive dynamics in most AME markets hamper the development of such cost-effective deployment models. In the Gulf markets, LTE will account for 30% of mobile subscriptions by 2018, while the figure will be in the 2-5% range across African markets due to late entries by mobile operators. This is in line with African regulators who raise concerns that the mobile operators should gain more experience with 3G. Read More

In 2023, Puerto Rico and The Bahamas were the states with the highest gross domestic product (GDP) per capita in Latin America and the Caribbean. The average GDP generated per person in the Bahamas amounted to 34,749 U.S. dollars, whereas the average wealth created per capita in Puerto Rico was estimated at around 34,749 U.S. dollars. In that same year, this region's lowest GDP per capita was that of Haiti, at less than 1,693 U.S. dollars per person per year. The largest economies in Latin America GDP is the total value of all goods and services produced in a country in a year. It is an important indicator to measure the economic strength of a country and the average wealth of its population. By far, the two largest economies in the region are Brazil and Mexico, both registering GDPs three times bigger than the third place, Argentina. Nonetheless, they are the two most populated countries by a great margin.
Key economic indicators of Latin America Latin America emerges as an important region in the world economy, as of 2023, around 7.3 percent of the global GDP, a similar share to the Middle East. Nevertheless, the economic development of most of its countries has been heavily affected by other factors, such as corruption, inequality, inflation, or crime and violence. Countries such as Venezuela, Suriname, and Argentina are constantly ranking among the highest inflation rates in the world. While Jamaica, Ecuador, and Haiti rank as some of the most crime-ridden states.

Crude Oil Market Outlook

According to our latest research, the global crude oil market size stood at USD 2.2 trillion in 2024, reflecting its pivotal role as the backbone of the global energy sector. The market is projected to expand at a CAGR of 4.1% during the forecast period, reaching USD 3.1 trillion by 2033. The demand for crude oil continues to be propelled by robust industrialization, rising transportation needs, and the ongoing expansion of petrochemical industries worldwide. As per our recent analysis, the market’s growth is further fueled by evolving geopolitical dynamics, technological advancements in extraction, and growing energy consumption in emerging economies.

A primary growth factor for the crude oil market is the sustained increase in global energy demand, particularly from rapidly industrializing regions such as Asia Pacific and the Middle East. The transportation sector, which accounts for a significant portion of crude oil consumption, is witnessing steady growth due to rising vehicle ownership, expanding logistics networks, and increasing air travel. Furthermore, the petrochemicals segment is experiencing heightened demand for plastics, fertilizers, and synthetic materials, all of which are derived from crude oil derivatives. This broad-based demand across multiple sectors ensures a stable foundation for the market’s continued expansion.

Technological advancements in extraction and production methods have also played a crucial role in market growth. Innovations such as horizontal drilling, hydraulic fracturing, and enhanced oil recovery techniques have significantly improved the efficiency and cost-effectiveness of crude oil extraction, especially from previously inaccessible reserves. These technological breakthroughs have enabled producers to tap into unconventional sources, such as shale oil and deepwater reserves, thereby increasing overall supply and stabilizing prices. Additionally, digitalization and automation in upstream operations are optimizing production workflows, reducing operational risks, and enhancing safety standards, further bolstering the market’s growth trajectory.

Another notable growth driver is the strategic investments and policy support from governments and private players in oil-rich regions. Countries in the Middle East, North America, and Russia are continuously investing in infrastructure, refining capacity, and exploration projects to maintain their competitive edge in the global crude oil market. Moreover, favorable policy frameworks, such as tax incentives for exploration and production, are encouraging companies to expand their operations. The increasing focus on energy security and diversification of supply sources is also prompting countries to build strategic reserves, further stimulating demand for crude oil.

From a regional perspective, the Asia Pacific region is emerging as the fastest-growing market, driven by surging energy needs in China, India, and Southeast Asia. North America, with its advanced extraction technologies and abundant shale reserves, continues to be a significant contributor to global supply. Meanwhile, the Middle East remains a dominant force due to its vast proven reserves and low production costs. Europe and Latin America are also notable markets, with Europe focusing on refining and importation, and Latin America leveraging offshore discoveries. The interplay of these regional dynamics is shaping the competitive landscape and influencing global market trends.

Type Analysis

The crude oil market is segmented by type into light distillates, middle distillates, and heavy oils. Light distillates, such as gasoline and naphtha, are highly sought after due to their extensive use in transportation and petrochemical manufacturing. The demand for light distillates has been consistently rising, especially in regions with burgeoning automotive industries and expanding urban populations. Their relatively higher yield and ease of processing make them a preferred choice for refineries, contributing to their substantial share in the overall market. Moreover, the ongoing shift towards cleaner fuels is further boosting the consumption of light distillates, as they produce fewer emissions compared to heavier oil types.

Middle distillates, which include diesel, kerosene, and jet fuel, represent another critical segment in the crude oil market. The growth of the aviation sector, coupled with increased freight transportation, is dri

The countries in the Middle East are renowned for their vast oil reserves in the global market. While the largest importer of oil and petroleum is the United States, the leading producer of oil in the Middle East is Saudi Arabia with over 12 million barrels of oil produced per day as of 2018.

“Global oil reserves and trade”   Besides Saudi Arabia, the United States imports petroleum from various countries around the world among which Canada is the largest exporter of petroleum having exported around 4.3 billion barrels of petroleum to the United States in 2018. Back in 2015, Kuwait and the United Arab Emirates held the second and third largest oil reserves in the Gulf Cooperation Council.

Oil market of Saudi Arabia   As of 2018, over 10 million barrels of crude oil were produced in Saudi Arabia of which 3 million barrels were consumed, on a daily basis. This crude oil is further refined to produce products such as diesel, fuel oil, gasoline, LPG, kerosene etc. by refineries like Saudi Aramco. Of these, the highest production was of diesel equaling 319 thousand barrels in 2017.

In 2024, the real gross domestic product (GDP) in Vietnam grew by approximately **** percent, marking the highest growth rate in Southeast Asia. In comparison, Myanmar's real GDP growth rate dropped by **** percent. Southeast Asia, a tapestry of economic and cultural complexity Historically a critical component of global trade, Southeast Asia is a diverse region with heterogeneous economies. The region comprises ** countries in total. While Singapore is a highly developed country economy and Brunei has a relatively high GDP per capita, the rest of the Southeast Asian countries are characterized by lower GDPs per capita and have yet to overcome the middle-income trap. Malaysia is one of these countries, having reached the middle-income level for many decades but yet to grow incomes proportionally to its economic development. Nevertheless, Southeast Asia’s young population will further drive economic growth across the region’s markets. ASEAN’s economic significance Aiming to promote economic growth, social progress, cultural development, and regional stability, all Southeast Asian countries except for Timor-Leste are part of the political and economic union Association of Southeast Asian Nations (ASEAN). Even though many concerns surround the union, ASEAN has avoided trade conflicts and is one of the largest and most dynamic trade zones globally. Factors such as the growing young population, high GDP growth, a largely positive trade balance, and exemplary regional integration hold great potential for future economic development in Southeast Asia.

Countries in the Gulf Cooperation Council vary significantly in size, population, and available budget. In 2025, three of the six GCC countries budgeted more than 15 percent of state expenditure on education. The remaining three budgeted between 4 and 14.5 percent each. GCC investment in education Investment in education has become a key priority for GCC countries in recent years. Countries like Qatar and the United Arab Emirates even have campuses of American universities like Northwestern, NYU, and Michigan State. In 2021, all countries in the council saw an increase in the share of student enrollment, with Saudi Arabia and Kuwait recording only a marginal increase and the UAE topping the list with the biggest jump. Despite rising student enrollment, the average student-to-teacher ratio in the region remains low. Budget expenditure in the GCC Budget allocation for education comprised a significant share of the expenditure in most GCC countries. Saudi Arabia, which has the overwhelming share of schools in the GCC, dedicated the most significant portion of its budget to the education sector. Four out of the six countries spent a noticeably smaller portion of their expenditure on healthcare during the same period.

Venezuela accounts for the greatest share of global oil reserves. As of 2023, ***** percent of all known oil reserves were found in the South American country. Saudi Arabia followed, at some ** percent. The majority of Venezuela's oil reserves are held in the form of oil sands and other very heavy oil types that have only become accessible through technological advances made in the late 2000's and early 2010's. OPEC reserves Most of the leading oil reserves holding countries are members of OPEC, the Organization of the Petroleum Exporting Countries, founded in 1960. Now comprised of 13 member states, OPEC's share of global crude oil reserves is around ** percent. Most OPEC countries are in the Middle East, the region with the largest oil reserves, holding around **** of the global share. Oil sands contribute to growing reserves As one of the five founding members of OPEC, Venezuela has long been an oil-producing country with heavy economic reliance on oil exports. However, in 2011, Venezuela’s energy and oil ministry announced an unprecedented increase in proved oil reserves as oil sands in the Orinoco Belt territory were certified. As a result, South and Central America’s proven oil reserves more than ******* between 2008 and 2011.