The economy of the Arab League is the economy of the member states of the Arab League. The economy has traditionally been dependent on exports of oil and natural gas; however, the tourism sector has grown rapidly, becoming the fastest-growing sector in the region. The Greater Arab Free Trade Area, founded in 1997, is the league's free trade area which removed customs taxes on 65% of trade between countries in the Arab World.
Members of the Arab League are among the richest and poorest of the world, and there is a great disparity in the economic development of members of the league. There is a significant difference imbalance in wealth between the Gulf states, which include Qatar, the United Arab Emirates, Saudi Arabia and war-torn nations within the league, such as: Syria, Iraq and Yemen.
Based on latest figures and estimates, the Arab League has a GDP of approximately US$3.546 trillion at nominal values and Int$9.423 trillion at purchasing power parity (PPP). The member states with the largest nominal GDP are Saudi Arabia at US$1.084 trillion, followed by the UAE at US$549 billion and Egypt at US$347 billion. The member states with the highest GDP (PPP) are Egypt at Int$2.372 trillion, followed by Saudi Arabia at Int$2.230 trillion and the UAE at Int$905 billion.
The member state with the smallest nominal GDP is Comoros at US$2 billion.
The member states with the highest nominal GDP per capita are Qatar at US$71,653, followed by the UAE at US$49,498 and Saudi Arabia at US$30,099. The member state with the highest GDP (PPP) per capita is Qatar at Int$121,605, followed by the UAE at Int$81,676 and Bahrain at Int$67,795. The member state with the lowest nominal GDP per capita is Yemen at US$417.