gulfnews : Gulf economies grew 7.4% last year

The real gross domestic product (GDP) of the oil-rich six Gulf states registered a year-on-year growth of 7.4 per cent in 2011, up from 4.8 per cent in 2010, according to National Bank of Abu Dhabi report.
The GCC's nominal GDP reached a record $1.34 trillion (Dh4.92 trillion) in 2011, a sharp increase from $1.08 trillion in 2010.
The GCC economy is estimated to be the 14th largest in the world in 2011 after Australia.

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