6th Annual Statistical Report on the Gulf Common Market Released

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The Ministry of Finance (MoF) organised, today, a press conference to highlight the UAE’s performance in the Gulf Common Market (GCM), at its headquarters in Abu Dhabi. The press conference outlined elements of the 6th annual statistical report on the GCM, which was recently issued by the Regional and International Financial Relations Department at MoF. HE Younis Haji Al Khoori, Undersecretary of MoF offered an overview of the GCM, including its establishment, developments, goals as well as UAE’s performance with regards to the ten most prominent aspects of the market during 2014.

The report included a number of social, economic and education elements, in addition to the license granted to practice economic, investment and service activities. It also included the total number of registered property contracts and investors in the stock market, the total number of Gulf commercial bank branches operating in the UAE, GCC employees in the UAE public and private sector. The report also focuses on the number of insurance policies extended to GCC, GCC students enrolled in public and private schools, and the beneficiaries of the social and health service within the UAE.

Commenting on the report, HE Obaid Humaid Al Tayer, Minister of State for Financial Affairs, stressed that the GCC is moving towards achieving its ultimate objectives and more positive results. HE said: “The 6th edition of MoF report reveals the strong performance indicators of the economic integration between GCC countries, which reflects the achievements for the Member States citizens in different fields, and the specialised authorities’ commitment in the GCC countries to continue working to achieve more positive results for GCC nationals.”

Economic Activity Licenses

Data from the statistical report shows phenomenal growth in the number of licenses granted to GCC nationals to practice economic activities, which amounted to 38,701 by the end of 2014. This is an increase of 3,695 from 2013 and a growth rate of 10.50%. The number of licenses granted has continually increased from 2000 to 2013, with 5,594 licenses issued in 2000, representing an increase by 591.80% up to 2014.

Total distribution of licenses according to nationalities:

CountryNumber of licenses by end of 2014Number of licenses by end of 2013
Saudi Arabia16,79715,052
Kuwait7,1416,543
Oman6,4875,827
Bahrain5,7065,374
Qatar2,5702,201
Total38,70135,006

Gulf bank branches

Gulf banks operating within the UAE increased to ten branches by the end of 2014, where in 2003, the number of banks did not exceed three branches. The bank list includes:

CountryBankNumber of branches
KuwaitNational Bank of Kuwait2
Al Ahli Bank of Kuwait2
OmanNational Bank of Oman2
QatarDoha Bank2
Saudi ArabiaSamba Financial Group1
BahrainNational Bank of Bahrain1

Trading shares

Joint-stock companies that allow GCC citizens to trade shares increased in 2014 to 80 companies, which represents 74% of total companies registered with the Securities and Commodities Authority in UAE. The following table demonstrates the total number of investors up until the end of 2014, and the capital value invested for each GCC country:

CountryNumber of investorsCapital value
Saudi Arabia114,211 investorsAED 50,863 million
Kuwait42,979 investorsAED 7,085 million
Oman58,338 investorsAED 7,186 million
Bahrain16,922 investorsAED 23,812 million
Qatar15,735 investorsAED 9,977 million
Total278,185 investorsAED 98,923 million

Property ownership

The UAE continues to maintain its lead position in attracting GCC investors to own real estate, where the number GCC citizens’ ownership reached 18,032 in 2014, whilst the total GCC real estate ownerships reached 90,295, distributed as follows:

CountryRegistered real estate in 2014Rate Distribution of registered real estate in 2014Total number of real estate by the end of 2014
Saudi Arabia8,20647.1%23,904
Kuwait1,54528.7%42,799
Oman1,3257.2%6,635
Bahrain1,5458.6%8,210
Qatar1,4588.4%8,946
Total17,641100%89,904

Working in private and government sectors

The number of GCC citizens working in the federal government sector reached 4,608 employees, representing an increase of 4.9% compared to 2013 (4,384) in both the public and private sectors. GCC citizens working in federal government sector amounted to 1,041, while the number of GCC citizens working in the private sector equalled 3,567. The following table shows GCC employees distribution in government and private sectors:

Federal government employeesPrivate sector employeesCountry
NumberPercentageNumberPercentage
514.9%65218.3%Saudi
111%651.8%Kuwait
89586%2,25563.1%Oman
686.5%57116%Bahrain
161.5%240.7 %Qatar
1,041  employees100%3,567  employees100% Total

Social and retirement security (insurance security)

In 2013, the total number of GCC national beneficiaries amounted to 8,058, and reached 9,117 beneficiaries in 2014, representing a growth of 11.6%.Distribution of beneficiaries by sector is demonstrated in the following table:

TotalPrivate SectorGovernment SectorCountry
825337488Saudi
1059114Kuwait
7,1241,5245,600Oman
1,041537504Bahrain
22517Qatar
9,1172,4946,623Total

Benefit from educational services (schools)

UAE schools received 17,856 students from GCC citizens in 2014, including 13,373 from different stages of education in government schools, and 3,479 students in private schools. The following table highlights the distribution of GCC students in private and government schools:

TotalGovernment schoolsPrivate SchoolsCountry
3,2092,2011,008Saudi Arabia
92667859Kuwait
12,28010,5051,775Oman
1,215488727Bahrain
226112114Qatar
17,856 students13,373  students4,483  studentsTotal

Benefit from educational services (universities)

With regards to the higher education, UAE government universities received 768 students in 2014, and 9,099 students in private universities. The following table showcases the distribution of students according to their country of origin and type of university:

TotalGovernment UniversitiesPrivate UniversitiesCountry
1,779 1181,661Saudi Arabia
1,139 281,111Kuwait
5,948 5675,381Oman
364 39621Bahrain
341 16325Qatar
9,867 students768  students9,099  studentsTotal

Health indicators

Private hospitals and clinics in UAE offered their services to 363,473 GCC citizens in 2014. The number of GCC citizens benefiting from health insurance services in Abu Dhabi reached 40,752 by the end of 2014, whereas the number of beneficiaries from these services in Dubai reached 3,679.

Social services

The total number of GCC citizens benefiting from social services in UAE reached 36 in 2014, 16 of which have benefited from social aid, and 20 citizens from social care for juveniles.

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