Current trends in the socio-economic development of the GCC: statistical analysis

Abstract

The relevance of the research topic is explained by the fact that at the moment, the participation of the GCC in international economic relations, the world economy, international trade, regional integration and global globalization plays a significant role. Since the integration process is complex, multilevel and unambiguously slow, it is possible to give an objective assessment of the situation of integration on the world stage exclusively in dynamics, therefore, in order to maintain the fundamental nature of the study of this issue, periodic studies remain always relevant. The GCC unites a group of Arab countries with highly specialized developing economies, some of which are in leading positions in the production and marketing of oil and petroleum products around the world. In addition, the official statements of the heads of state on the development and diversification of integrated economies indicate that the study and identification of the features of the Middle East integration grouping will contribute to strengthening ties with the GCC of both third countries and its member countries. The aim is to identify trends and features of the GCC economic integration at the present stage through theoretical, statistical data, macroeconomic indicators, SWOT and PEST analysis. Methodological basis of the study: reference literature, international statistical data from official sources (UNCTAD, WTO, TradeMap, World Bank and others), comparison of the indicators found and obtained. The analysis confirms the relevance and importance of further study of socio-economic processes in the GCC countries, which contributes to a deeper understanding of them as a basis for further research.