Abstract

The main objective of the paper is to analyze the performance of Gulf Cooperation Council (GCC) Economies in terms of their Revealed Comparative Advantage for selected products in recent years. Index of Openness (IO) was calculated for certain selected economies. For most of the study period (2005-2013), the IO was higher for UAE than the other economies. The RCA estimated reveal that UAE had more comparative advantage in Manufactures. The main conclusion form the study is that in spite of decline in growth rates in most of the GCC economies due to the fall in oil prices, liquidity problems, instability and impact of China is declining growth, all the countries have exhibited stability in recent years and are on the path of progress with economic, political, and structural reforms. Attempts are being made in all the countries to revitalize the economy by diversification, improvements in infrastructure and less dependence on oil exports.

This work is licensed under a Creative Commons Attribution 4.0 License.