5 Richest Arab Countries in 2023

In this article, we are going to list the 5 richest Arab countries in 2023. For a detailed coverage of this topic please take a look at 10 Richest Arab Countries in 2023.

5. Qatar

Total GDP of the country (2023): $219.57 Billion

Qatar’s economic backbone is its oil reserves, but the country has progressed in developing other segments of its economy. The country is going through a transformational change and the recent FIFA World Cup is a major development. Qatar has been able to attain global attention and it is working further to promote tourism. Qatar’s GDP per capita is $83,890 and is ranked fifth on our list of the richest Arab countries in 2023.

4. Iraq

Total GDP of the country (2023): $267.89 Billion

Iraq is ranked the fourth richest Arab country in 2023 backed by a massive oil economy. Iraq holds some of the largest oil reserves in the world and is the second-largest crude oil producer in OPEC, after Saudi Arabia. Iraq’s economy is heavily dependent on the export of petroleum. The country has a GDP per capita of $6,180.

3. Egypt

Total GDP of the country (2023): $387.11 Billion

Egypt is working in collaboration with The World Bank Group to achieve Vision 2030. The goal is to improve private sector jobs, drive human capital outcomes, and strengthen macroeconomic management. Egypt remains one of the richest Arab countries in 2023 with a GDP per capita of $3,640.

2. United Arab Emirates 

Total GDP of the country (2023): $498.98 Billion

The United Arab Emirates is one of the most established economies among the Arab countries. UAE has become an epicenter for tourists and the corporate world. Reuters reported that as per the United Nations trade body, UAE’s foreign direct investment soared 10% year over year to a record $23 billion in 2022. UAE has a GDP per capita of $49,450 and is ranked second on our list of the richest Arab countries in 2023.

1. Saudi Arabia

Total GDP of the country (2023): $1.06 Trillion

Saudi Arabia tops the rank for the richest Arab country in 2023. The Saudi economy is booming, driven by huge oil revenues and development in private investment. Saudi Arabia is on track to achieve Vision 2030 with a GDP per capita of $29,920.

You can also take a look at 15 Richest Hotel Owners in the World and 21 Richest Countries in Asia.