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Homework answers / question archive / Give a short general introduction in which you explain in your own words, an overview of the GCC economy countries of GCC and their respective area, population, sources of income, local production, geographical position, official currency
Give a short general introduction in which you explain in your own words,
an overview of the GCC economy
countries of GCC and their respective area,
population,
sources of income,
local production,
geographical position,
official currency
Ans: GCC stands for Gulf Cooperation Council. It is a group of six oil exportering countries. It was formed in the year 1981 for the benefit of economic - business purposes. Members of this organisation are :- 1) United Arab Emirates 2) Saudi Arabia 3) Qatar 4) Oman 5) Kuwait 6) Bahrain
1. United Arab Emirates
Area - 83600 Square km, Population - 96.3 lakh, Source of income - petroleum and natural gas, Official Currency - Emirati Dirham, GDP- 354 billion dollars
2. Saudi Arabia
Area - 2.15 million square km, Population - 3.37 crore, Source of income - oil, largest producer of petroleum, Official currency - Saudi riyal, GDP - 680 billion dollars
3. Oman
Area - 309,501 Square km, Population - 48.3 lakh, source of income - petroleum, Official currency - Oman riyal, natural gas, GDP - 76.98 billion dollars
4 Kuwait
Area - 17,818 Square km, Population - 41.4 lakh, Source of income - oil, Official currency - Kuwaiti dinar, GDP - 131 billion dollars
5. Qatar
Area - 11,571 Square km, Population - 27.8 lakh, source of income - natural gas, petroleum, official currency - Qatari riyal, GDP - 358 billion dollars
6. Bahrain
Area - 765.3 Square km, Population - 15.7 lakh, Source of income - Oil, Official currency - Bahraini Dinar, GDP - 34 billion dollars.
