Top 20 Arab Countries By GDP Nominal

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The Arab world (Arabic: العالم العربي al-ʿālam al-ʿarabī), formally the Arab homeland (الوطن العربي al-waṭan al-ʿarabī), also known as the Arab nation (الأمة العربية al-ummah al-ʿarabīyyah), the Arabsphere, or the Arab states, consists of the 22 Arab countries which are members of the Arab League. A majority of these countries are located in Western Asia, Northern Africa, Western Africa, and Eastern Africa. The region stretches from the Atlantic Ocean in the west to the Arabian Sea in the east, and from the Mediterranean Sea in the north to the Indian Ocean in the southeast. The eastern part of the Arab world is known as the Mashriq, and the western part as the Maghreb. Arabic is used as the lingua franca throughout the Arab world.

Malta, an island country in Southern Europe whose national language also derives from Arabic (through Sicilian Arabic), is not included in the region. Similarly, Chad, Eritrea, and Israel recognize Arabic as one of their official or working languages but are not included in the region because they are not members of the Arab League (although Chad and Eritrea applied for full membership in 2014). The Arab world has a combined population of around 422 million inhabitants (as of 2012).

In post-classical history, the Arab world was synonymous with the historic Arab empires and caliphates. Arab nationalism arose in the second half of the 19th century along with other nationalist movements within the Ottoman Empire. The Arab League was formed in 1945 to represent the interests of Arab people and especially to pursue the political unification of the Arab countries; a project known as Pan-Arabism.

The Arab states are mostly, although not exclusively, developing economies and derive their export revenues from oil and gas, or the sale of other raw materials. Recent years have seen significant economic growth in the Arab World, due largely to an increase in oil and gas prices, which tripled between 2001 and 2006, but also due to efforts by some states to diversify their economic base. Industrial production has risen, for example the amount of steel produced between 2004 and 2005 rose from 8.4 to 19 million tonnes. (Source: Opening speech of Mahmoud Khoudri, Algeria's Industry Minister, at the 37th General Assembly of the Iron & Steel Arab Union, Algiers, May 2006). However even 19 million tons pa still only represents 1.7% of global steel production, and remains inferior to the production of countries like Brazil.

The main economic organisations in the Arab World are the Gulf Cooperation Council (GCC), comprising the states in the Persian Gulf, and the Union of the Arab Maghreb (UMA), made up of North African States. The GCC has achieved some success in financial and monetary terms, including plans to establish a common currency in the Persian Gulf region. Since its foundation in 1989, the UMA's most significant accomplishment has been the establishment of a 7000 km highway crossing North Africa from Mauritania to Libya's border with Egypt. The central stretch of the highway, expected to be completed in 2010, will cross Morocco, Algeria and Tunisia. In recent years a new term has been coined to define a greater economic region: the MENA region (standing for "Middle East and North Africa") is becoming increasingly popular, especially with support from the current US administration.