The Arab Investment and Export Credit Guarantee Corporation (Dhaman) said on Sunday that the Arab GDP grew by 1.8 percent, exceeding $3.6 trillion during the year 2024. The corporation explained in a press statement on the occasion of issuing its fourth quarterly bulletin (Investment Guarantee) for 2024 that this growth occurred despite the challenges and events witnessed in the region, with the geographical concentration of growth continuing in Saudi Arabia, the UAE, Egypt, Iraq, and Algeria, which collectively accounted for over 72 percent of the region's total GDP.

The corporation noted that the overall performance expectations for the Arab economy in 2025 are positive, with an expected growth rate of 4.1 percent, driven by anticipated growth in 14 Arab countries, including 9 oil-based economies that alone contribute more than 78 percent of the Arab GDP. This comes amid cautious optimism about a reduction in the intensity of regional disturbances and conflicts, as well as improved revenues from oil, gas, and commodity exports, along with services produced in the region.

The corporation highlighted that estimates from the International Monetary Fund (IMF) show varying economic indicators across the Arab region in 2024 due to a 4 percent decline in crude oil production and a 1 percent drop in global oil prices. It also pointed to the expansion of the war in the Gaza Strip, in addition to the situations in other countries such as Lebanon, Yemen, Syria, and Iraq, as well as the ongoing armed conflict in Sudan, alongside climate changes and an increase in external debt.

It is worth noting that the Arab Investment and Export Credit Guarantee Corporation (Dhaman) was established in 1974 and is headquartered in Kuwait. It provides specialized insurance services against credit risks and political risks.