Gulf crude oil export revenue this year will reach 465 billion U.S. dollars

Emirates Industrial Bank 7 monthly economic report released today showed that six oil-producing Gulf region's crude oil export revenue this year, compared with 15.6% last year to nearly 465 billion U.S. dollars.

Monthly report said the Gulf countries mainly due to increase in crude oil export earnings of recent oil price remains high. OPEC to cut production as crude oil price in the first 10 months of 75 dollars a barrel, while last year was only $ 59.

The report stressed that rising crude oil export revenues are in nominal terms. If inflation and the weak dollar and other factors into account, the Gulf countries, the actual amount of crude oil exports are still relatively low.

Report that crude oil export revenues, the Gulf countries will invest more funds economic development projects, the next two years, real GDP growth is expected to reach 3% to 5%.