Saudi nominal GDP was $700.1 billion last year Six GCC countries had combined GDP of $1.41 trillion RIYADH: Saudi Arabia made up 29.3 percent of the $2.39 trillion Arab economy in 2020. The Kingdom’s $700.1 billion in nominal GDP was almost twice the size of the region’s second-largest economy, Egypt’s $361.9 billion, Al Eqtisadiah reported, citing data from the Saudi Arabian Monetary Authority, the International Monetary Fund and Arab statistical bodies. The UAE was the third largest Arab economy with GDP of $354.3 billion. The six countries of the Gulf Cooperation Council had combined GDP of $1.41 trillion, 58.8 percent of the Arab economy. The Arab world represents 2.8 percent of the global economy, and would rank eighth, behind France, if it was a single country.