Middle East Wealth Map: UAE Crude Oil, Syria Olive Oil

Data from the Observatory of Economic Complexity (OEC), compiled by Visual Capitalist, reveals the economic wealth of Middle Eastern countries. This wealth is calculated based on the value of each country's exports in 2021.

The United Arab Emirates (UAE) had the highest export value in 2021, reaching US$296 billion. The OEC indicates that the UAE's top export was crude oil, valued at US$58.5 billion, followed by refined petroleum products at US$42.5 billion, and gold at US$32.8 billion.

The UAE's exports were primarily destined for India (US$42 billion), Japan (US$24.8 billion), and China (US$22.8 billion). The OEC notes that the UAE's total export value ranked 23rd globally in 2021.

Saudi Arabia had the second-largest export value at US$256 billion in 2021. Similar to the UAE, its main export was crude oil, but with a significantly higher value of US$138 billion. This was followed by refined petroleum products at US$25.9 billion, and ethylene polymers at US$12.5 billion.

Turkey ranked third with total exports of US$234 billion. Unlike the top two countries, Turkey's leading export was automobiles, valued at US$10 billion. This was followed by jewelry (US$6.8 billion) and refined petroleum products (US$6.53 billion).

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The top three countries' largest export commodities were petroleum products, both crude and refined. Visual Capitalist even describes the UAE and Saudi Arabia as major players in determining global oil prices.

"The Middle East accounts for one-third of global oil production, producing over 30 million barrels per day. Five of the world's top 10 oil producers are located in this region," wrote Visual Capitalist author Niccolo Conte on Friday, November 3, 2023.

Below is a summary of the total export value and top export goods (with their values) from 17 Middle Eastern countries in 2021:

• UAE US$296 billion
  Crude oil US$58.5 billion


• Saudi Arabia US$256 billion
  Crude oil US$138 billion


• Turkey US$234 billion
  Automobiles US$10 billion


• Qatar US$94.7 billion
  Oil and gas US$57.2 billion


• Iraq US$81 billion
  Crude oil US$72 billion


• Israel US$64.1 billion
  Diamonds US$9.06 billion


• Kuwait US$58.2 billion
  Crude oil US$40.1 billion


• Oman US$56.9 billion
  Crude oil US$24.2 billion


• Egypt US$44.5 billion
  Refined petroleum products US$4.77 billion


• Bahrain US$15 billion
  Refined petroleum products US$4.28 billion


• Iran US$14 billion
  Ethylene polymers US$3.2 billion


• Jordan US$12 billion
  Potash fertilizers US$1.2 billion


• Lebanon US$4.79 billion
  Gold US$449 million


• Yemen US$1.97 billion
  Crude oil US$1.06 billion


• Afghanistan US$1.88 billion
  Gold US$419 million


• Palestine US$1.45 billion
  Building stone US$173 million


• Syria US$1.01 billion
  Olive oil US$125 million

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