GDP Forecast of the Biggest GCC Economies Using ARIMA

Gulf Cooperation Council (GCC) members are considered one of the fastest growing economies. This paper aims to empirically forecast the economic activity of the vastest GCC countries: Qatar, Saudi Arabia, and the United Arab Emirates. An Auto-Regressive Moving Average (ARIMA) model for the three countries Gross Domestic Product is obtained using the Box-Jenkins methodology during the 1980 - 2020 period. The appropriate models for the three economies are of ARIMA (0,2,1), the forecasts are at a 95% confidence level and predicts a growth in the three countries for the upcoming five years.