The total volume of Inter-Gulf Cooperation Council (GCC) member states trade exchange [2] has amounted to $ 85 billion in 2011, against only $ six billion in 1984.
The figures has been released by the Sector of Inforamtion Affairs at the Secretariat General of the GCC, [3] which took note, too, the direct impact of the estalishment of GCC member states' Customs' Union, in 2003, on the Inter-GCC member states trade, as it rose at 31 per cent in the first year of the union, while it scored an annual average rate of growth in the 2003-2008, at 28 per cent.
Comparing the volume of the inter-trade exchange before the union, which was standing at $ 15 billion, in 2002 to the total volume, at over than $ 85 billion, in 2011, the rate of its growth amounts to 476 per cent. [4]
[5] All Rights Reversed for Saudi Press Agency Links:
[1] http://www.syndigate.info
[2] http://www.gcc-sg.org/eng/
[3] http://www.albawaba.com/gcc-trade-surplus-hit-493bn-2012-13-418907
[4] http://www.albawaba.com/business/iran-sanctions-428288
[5] http://www.spa.gov.sa/English/index.php