Economy of the Middle East
| Statistics | |
|---|---|
| Population | 371 million |
| GDP | |
GDP growth | 3.2% (2023 est.) |
GDP per capita |
|
| 11.3% (2023 est.) | |
| Unemployment | 10.6% (2021) |
| Public finances | |
| 35% of GDP (2023 est.) | |
| Most numbers are from the International Monetary Fund. IMF Middle East Datasets All values, unless otherwise stated, are in US dollars. | |
The economy of the Middle East is very diverse, with national economies ranging from hydrocarbon-exporting rentiers to centralized socialist economies and free-market economies. The region is best known for oil production and export, which significantly impacts the entire region through the wealth it generates and through labor utilization. In recent years, many of the countries in the region have undertaken efforts to diversify their economies.