The Mediterranean economy reached a total GDP of approximately $11.1 trillion in 2024, largely concentrated in EU countries (72.5%), with France, Italy, and Spain as the main contributors.
Other regions account for smaller shares: the Middle East (17.7%), North Africa (8.2%), and the Western Balkans (1.6%).
Among non-EU economies, Turkey, Egypt, and Serbia stand out as the largest within their respective regions.
Between 2010 and 2024, economic growth was highly heterogeneous: modest in major EU countries, but stronger in the Balkans and several emerging economies.
In 2024, growth generally improved across the region, albeit with regional differences and some exceptions.
GDP per capita trends reveal significant disparities: high levels but slower growth in the EU, and faster growth but lower levels in the Balkans.
The Middle East shows pronounced internal inequalities, while North Africa appears more homogeneous, though at lower income levels.
Production structures reflect these differences: advanced, service-oriented economies in the EU versus a larger role of the primary sector in North Africa and the Balkans.
The industrial and manufacturing sectors highlight differences in technological capacity and international competitiveness.
Finally, the increasing share of medium- and high-tech exports in several Mediterranean economies points to ongoing processes of productive upgrading.
Economic issues are analyzed through indicators that examine total and per capita GDP, composition of value added by economic sectors, average annual growth, medium and high-tech production, as well as regional trends in agriculture and manufacturing.
GDP per capita, PPP (constant 2021 international $)
Agriculture, forestry, and fishing, value added (% of GDP)
Industry (including construction), value added (% of GDP)
Medium and high-tech manufacturing value added (% manufacturing value added)
Services, value added (% of GDP)
area_code
ordgeo
Countries
2024
2024
2024
2024
2024
2022
2024
Portugal
308.7
1.9
41,883.8
2.3
21.2
26.5
76.5
A
1
Spain
1,722.8
3.1
48,373.1
2.8
21.4
37.8
75.8
A
2
France
3,162.1
1.2
54,465.0
1.6
19.6
50.4
78.8
A
3
Italy
2,372.8
0.7
53,115.1
2.3
24.3
41.9
73.4
A
4
Slovenia
72.5
1.6
48,495.9
1.7
32.5
37.2
65.8
A
5
Croatia
92.5
3.8
42,631.3
4.1
23.9
25.6
72.0
A
6
Greece
257.1
2.3
37,752.6
3.8
17.7
25.4
78.5
A
7
Malta
24.3
6.0
60,469.8
0.2
12.4
39.1
87.4
A
8
Cyprus
36.3
3.5
53,252.5
1.3
11.7
27.7
87.0
A
9
Serbia
89.1
3.9
26,884.5
3.7
27.4
26.8
68.9
B
10
Kosovo
11.2
4.4
16,380.9
8.8
33.2
..
58.0
B
11
Bosnia and Herzegovina
28.3
2.5
20,428.5
5.0
26.1
16.9
68.8
B
12
Montenegro
8.1
3.0
27,852.0
6.5
14.8
14.9
78.7
B
13
North Macedonia
16.7
2.8
24,464.0
6.8
25.8
32.9
67.4
B
14
Albania
27.2
4.0
18,919.8
17.9
25.8
5.2
56.3
B
15
Turkiye
1,323.2
3.2
35,294.4
6.3
29.4
33.8
64.3
C
16
Syrian Arab Republic
20.0
-1.2
4,189.8
43.1
12.0
21.5
44.9
C
17
Lebanon
20.1
-0.8
11,330.3
2.1
4.6
14.6
93.3
C
18
Jordan
53.4
2.5
9,520.2
5.6
27.7
20.1
66.7
C
19
Israel
540.4
0.9
47,338.8
1.4
19.0
49.1
79.6
C
20
West Bank and Gaza
13.7
-26.6
3,845.5
7.0
21.4
7.2
71.6
C
21
Egypt, Arab Rep.
389.1
2.4
16,798.2
14.4
34.2
18.8
51.4
D
22
Libya
46.6
-0.6
12,275.9
1.7
65.4
16.1
32.9
D
23
Tunisia
53.4
1.4
12,713.5
9.8
24.9
27.6
65.3
D
24
Algeria
263.6
3.3
15,442.1
13.6
39.1
2.7
47.3
D
25
Morocco
154.4
3.2
9,065.9
11.4
27.3
28.3
61.3
D
26
GDP (current US$)
Syrian Arab RepublicLatest available data: 2023
LebanonLatest available data: 2023
GDP growth (annual %)
Syrian Arab RepublicLatest available data: 2023
LebanonLatest available data: 2023
GDP per capita, PPP (constant 2021 international $)
Syrian Arab RepublicLatest available data: 2023
LebanonLatest available data: 2023
Agriculture, forestry, and fishing, value added (% of GDP)
Syrian Arab RepublicLatest available data: 2022
LebanonLatest available data: 2023
West Bank and GazaLatest available data: 2022
TunisiaLatest available data: 2023
AlgeriaLatest available data: 2023
Industry (including construction), value added (% of GDP)
Syrian Arab RepublicLatest available data: 2022
LebanonLatest available data: 2023
West Bank and GazaLatest available data: 2022
TunisiaLatest available data: 2023
AlgeriaLatest available data: 2023
Medium and high-tech manufacturing value added (% manufacturing value added)
KosovoNo data available
LibyaLatest available data: 2021
Services, value added (% of GDP)
Syrian Arab RepublicLatest available data: 2022
LebanonLatest available data: 2023
West Bank and GazaLatest available data: 2022
TunisiaLatest available data: 2023
AlgeriaLatest available data: 2023
Some highlighted topics
Size of the economy and growth dynamics
The total Gross Domestic Product of the Mediterranean region amounted to approximately USD 11.1 trillion in 2024 (current prices). Mediterranean countries of the European Union account for a large majority of this total (72.5%), with the three largest economies—namely France, Italy, and Spain—together representing as much as 65.3%. The contribution of the other areas is more limited, with the Middle East accounting for 17.7% of the total, North Africa for 8.2%, and the Western Balkans for 1.6%.
In addition to the three European Union countries mentioned above, other economies with relatively high GDP levels include Turkey in the Middle East (with a GDP exceeding USD 1.3 trillion), Egypt (approximately USD 390 billion), the largest economy in North Africa, and Serbia, which has the largest economic system within the Western Balkans region (nearly USD 90 billion) (see Figure 1).
In the period following the international financial crisis of 2008–2009 – which affected growth trajectories in both advanced and emerging economies in subsequent years1 – GDP dynamics across the Mediterranean region have been highly heterogeneous (see Figure 2). More specifically, between 2010 and 2024 the average annual growth rate of European Union countries did not exceed 2% – with the exception of Malta (+6%) – reaching a maximum of around 2% in Slovenia and Croatia. Larger EU economies recorded lower average growth rates, ranging from 0.6% in Italy to 1.2% in France and Spain. Greece is the only country in the Euro-Mediterranean region to have experienced a negative average growth rate over the 2010–2024 period (−0.7%). In the Western Balkans, average growth rates ranged between 2.2–2.3% in Serbia, Bosnia and Herzegovina, and North Macedonia, and 4.3% in Kosovo. In the Middle East, GDP growth performance appears highly differentiated, spanning from an average annual contraction of −4.5% in Syria (calculated over the 2010–2023 period) to a robust +5.9% in Turkey. Within North Africa, Egypt stands out as the country recording the strongest average growth over the period considered (+3.8%).
With reference to the most recent year available (2024), economic performance appears to have improved overall across Mediterranean countries, albeit with some notable exceptions. Within the European Union, GDP growth in 2024 is significantly higher than the 2010-2024 average in Portugal, Spain, Croatia, Greece, and Cyprus, while it is lower in Slovenia. France and Italy record modest growth rates in 2024 (+1.2% and +0.7%, respectively), broadly in line with their average performance over the previous years. In the Western Balkans, all countries register GDP growth in 2024 above their respective 2010-2024 averages. By contrast, in the Middle East, GDP growth in 2024 is lower than the 2010–2024 average in all countries except Jordan. Among North African countries, Egypt and Libya record weaker growth outcomes in 2024 compared to previous years, while the opposite pattern is observed in Tunisia, Algeria, and Morocco.
Figure 2 – GDP growth rate. Year 2024 and average value for the period 2010-2024 (percentage)
...
The evolution of GDP per capita between 2010 and 2024 – calculated at purchasing power parity (PPP) and expressed in constant 2017 US dollars – highlights significant cross-country differences, including within the same geographical areas (see Figure 3). Among European Union countries, Malta and Croatia recorded the most robust growth (+61.3% and +48.5%, respectively), while Greece (+0.5% over the entire period), Italy (+7.7%), and France (+10.9%) experienced more modest GDP per capita growth.Focusing on the most recent year available, average GDP per capita in European Union countries exceeded USD 50,700, with four countries—France, Italy, Malta, and Cyprus—recording values above the EU average. In the Western Balkans, all countries exhibited very strong growth dynamics, with cumulative growth rates over the period ranging from 88% in Montenegro to 152% in Albania. Average GDP per capita in the region reached approximately USD 23,100 in 2024, with Kosovo, Albania, and Bosnia and Herzegovina remaining below the regional average.
In the Middle East, among the six countries included in the region, only Turkey and Israel recorded an increase in GDP per capita between 2010 and 20242 (+80.4% and +25.5%, respectively). Moreover, the most recent data point highlights very pronounced disparities in income levels across countries. On the one hand, Israel and Turkey—at USD 47,300 and USD 35,300, respectively—display GDP per capita levels broadly in line with the higher values observed in European Union countries. On the other hand, Palestine, Syria, Jordan, and Lebanon record significantly lower levels, ranging from USD 3,800 in Palestine to USD 11,300 in Lebanon. Greater homogeneity in income levels is observed in North Africa, where in 2024 GDP per capita ranged between USD 9,100 in Morocco and USD 16,800 in Egypt. Growth patterns over the period under review are also relatively uniform (with an average increase of 17.8% in the North African region between 2010 and 2024), with the notable exception of Libya, where GDP per capita experienced marked volatility over the period and, in 2024, stood almost 42% below its 2010 level.
Figure 3 – GDP per capita. Period 2001-2023 (PPP, constant 2021 international $)
...
Production structure
The differences of the twenty-six Mediterranean countries in terms of levels of development and resource endowments are clearly reflected in the composition of value added by broad production sectors (see Figure 4).
The share of the Agriculture, Forestry and Fishing sector (hereafter referred to as the “primary” sector) in European Union countries – whose economies are at an advanced stage of tertiarization – is very limited, ranging from 0.2% of total value added in Malta to 4.1% in Croatia. The weight of the primary sector is higher in the Western Balkans, varying between 3.7% and 8.8%, with a peak of 17.9% in Albania. In the Middle East, Israel displays a very low share of the primary sector (just 1.4% of total value added) and an advanced economic structure, characterized by a strong tertiary sector accounting for 79.6% of value added. In North African countries, the primary sector accounts for 11.4% of total value added in Morocco and 14.4% in Egypt. By contrast, in Libya – where the primary sector represents only 1.7% of value added – the secondary sector accounts for the largest share of total value added (65.4%), by far the highest among the twenty-six Mediterranean countries.
Figure 4 – Value added composition of the economy by major sectors. Year 2024 (percentage)
...
Within the manufacturing sector, the share of high value-added production—namely medium- and high-technology industries—provides an indication of a country’s level of technological development and the ability of its productive system to compete internationally.
In many European Union countries, the share of medium- and high-tech products in total manufacturing exports exceeded 35% in 2022 (France, Italy, Malta, Spain, and Slovenia), while it stood at around 25% in Cyprus, Portugal, Croatia, and Greece. France records the highest share among all Mediterranean countries (50.1%). Other Mediterranean countries with a substantial presence of medium- and high-tech products in manufacturing exports include Israel (49.1%) and Turkey (33.8%) in the Middle East; North Macedonia (32.9%) and Serbia (26.8%) in the Western Balkans; and Morocco (28.3%) and Tunisia (27.6%) in North Africa (see Figure 5). Compared with 2012, a particularly strong increase in medium- and high-tech exports is observed in Malta—where their share of total exports rose from 5.4% to 39.1%—and in Morocco, where it increased from 6.7% to 28.3%.
Figure 5 – Medium and high-tech manufacturing value added (% manufacturing value added). Years 2012 and 2022
...
Notes
1Kose, M. Ayhan, and Franziska Ohnsorge, eds. 2020. A Decade after the Global Recession: Lessons and Challenges for Emerging and Developing Economies. Washington, DC. World Bank. doi:10.1596/978-1-4648-1527-0
2For Syria and Lebanon, the latest available data refers to 2023.
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Metadata
Indicators
Definition
GDP at purchase prices is the sum of the gross value added of all producers resident in the economy, plus taxes on products and minus subsidies not included in the value of products. It is calculated without making deductions for the depreciation of manufactured goods or for the depletion and degradation of natural resources. Data are at constant 2015 prices, expressed in US dollars. GDP dollar figures are converted from national currencies using official 2015 exchange rates. For some countries where the official exchange rate does not reflect the actual rate applied to foreign currency transactions, an alternative conversion factor is used.
Sources
World Bank Development Indicators elaborations on World Bank and OECD data
Methodology
Gross domestic product (GDP) is the sum of the value added of all producers plus any taxes on the products and minus any subsidies not included in the value of the products. Value added is the value of the gross output of producers minus the value of intermediate goods and services consumed in production, before accounting for the consumption of fixed capital in production. The United Nations System of National Accounts provides that value added is valued at basic prices (excluding net taxes on products) or producer prices (including net taxes on products paid by producers, but excluding sales or value-added taxes). Both assessments exclude transport costs which are invoiced separately by the manufacturers. Total GDP is measured at purchase prices. The added value of industry is normally measured at basic prices.
Notes
The growth of an economy is measured by the change in the volume of its output or the real incomes of its residents. The 2008 United Nations System of National Accounts (SCN 2008) offers three plausible indicators for calculating growth: gross domestic product (GDP) volume, real gross domestic income, and real gross national income. The volume of GDP is the sum of the value added, measured at constant prices, by households, general government and the industries operating in the economy. GDP takes into account all domestic output, regardless of whether the income is allocated to domestic or foreign institutions. Among the difficulties that the compilers of national accounts face is the extension of undeclared economic activity in the informal or secondary economy. In developing countries, a large share of agricultural production is not traded (because it is consumed within the family) or is not exchanged for money. Agricultural production often has to be estimated indirectly, using a combination of methods that involve estimates of inputs, yields and cultivated areas. This approach sometimes leads to rough approximations that may differ from real values over time and between crops for reasons other than climatic conditions or agricultural techniques. Similarly, agricultural inputs that cannot be easily attributed to specific outputs are often "compensated" using equally crude and ad hoc approximations. Note: Data for OECD countries are based on ISIC, Revision 4.
Presence in policy-oriented statistical systems
ENP-South Eurostat Data Browser: "Economics and Finance" Area
Annual percentage growth rate of GDP at constant market prices in local currency.
Sources
World Bank Development Indicators elaborations on World Bank and OECD data
Methodology
Gross domestic product (GDP) is the sum of the value added of all producers plus any taxes on the products and minus any subsidies not included in the value of the products. Value added is the value of the gross output of producers minus the value of intermediate goods and services consumed in production, before accounting for the consumption of fixed capital in production. The United Nations System of National Accounts provides that value added is valued at basic prices (excluding net taxes on products) or producer prices (including net taxes on products paid by producers, but excluding sales or value-added taxes). Both assessments exclude transport costs which are invoiced separately by the manufacturers. Total GDP is measured at purchase prices. The added value of industry is normally measured at basic prices.
Notes
The growth of an economy is measured by the change in the volume of its output or the real incomes of its residents. The 2008 United Nations System of National Accounts (SCN 2008) offers three plausible indicators for calculating growth: gross domestic product (GDP) volume, real gross domestic income, and real gross national income. The volume of GDP is the sum of the value added, measured at constant prices, by households, general government and the industries operating in the economy. GDP takes into account all domestic output, regardless of whether the income is allocated to domestic or foreign institutions. Among the difficulties that the compilers of national accounts face is the extension of undeclared economic activity in the informal or secondary economy. In developing countries, a large share of agricultural production is not traded (because it is consumed within the family) or is not exchanged for money. Agricultural production often has to be estimated indirectly, using a combination of methods that involve estimates of inputs, yields and cultivated areas. This approach sometimes leads to rough approximations that may differ from real values over time and between crops for reasons other than climatic conditions or agricultural techniques. Similarly, agricultural inputs that cannot be easily attributed to specific outputs are often "compensated" using equally crude and ad hoc approximations. Note: Data for OECD countries are based on ISIC, Revision 4.
Presence in policy-oriented statistical systems
SDG Goal 8, indicator 8.1.1; ENP-South Eurostat Data Browser: "Economics and Finance" Area
Gross domestic product converted into international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as the U.S. dollar has in the United States.
Sources
elaborations of World Bank Development Indicators on data from the World Bank International Comparison Program and Eurostat-OECD PPP Programme
Methodology
Purchasing power parity GDP (PPP) is the gross domestic product converted into international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as the U.S. dollar has in the United States. GDP at purchase prices is the sum of the gross value added of all producers resident in the country, plus taxes on products and minus subsidies not included in the value of products. It is calculated without deducting the depreciation of manufactured goods or the depletion and degradation of natural resources.
Notes
For the comparability of individual sectors, labour productivity is estimated according to national accounting conventions. However, there are still significant limitations in the availability of reliable data. Information on consistent production series in both national currency and dollars at purchasing power parity is not readily available, especially in developing countries, because the definition, coverage and methodology are not always consistent across countries. For example, countries use different methodologies to estimate shortfalls for non-market service sectors and use different definitions of the informal sector.
Agriculture, forestry and fisheries correspond to ISIC divisions 1-3 and include forestry, hunting and fishing, as well as crops and livestock. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without deducting the depreciation of manufactured assets or the depletion and degradation of natural resources. Reference is made to the International Standard Industrial Classification (ISIC), revision 4.
Sources
WeMed elaborations on World Bank Development Indicators data
Methodology
Value added is the value of the gross output of producers minus the value of intermediate goods and services consumed in production, before accounting for the consumption of fixed capital in production. The United Nations System of National Accounts provides that value added is valued at basic prices (excluding net taxes on products) or producer prices (including net taxes on products paid by producers, but excluding sales or value-added taxes). Both assessments exclude transport costs which are invoiced separately by the manufacturers.
Notes
Agricultural production often has to be estimated indirectly, using a combination of methods that involve estimates of inputs, yields and cultivated areas. This approach sometimes leads to rough approximations that may differ from real values over time and between crops for reasons other than climatic conditions or agricultural techniques. Similarly, agricultural inputs that cannot be easily attributed to specific productions are often "networked" using equally crude and ad hoc approximations.
Presence in policy-oriented statistical systems
ENP-South Eurostat Data Browser: "Economics and Finance" Area
Industry (including construction) corresponds to ISIC divisions 05-43 and includes manufacturing industry (ISIC divisions 10-33). It includes value added from mining, manufacturing (also reported as a separate subgroup), construction, electricity, water and gas. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without deducting the depreciation of manufactured assets or the depletion and degradation of natural resources. Reference is made to the International Standard Industrial Classification (ISIC), revision 4.
Sources
WeMed elaborations on World Bank Development Indicators data
Methodology
Value added is the value of the gross output of producers minus the value of intermediate goods and services consumed in production, before accounting for the consumption of fixed capital in production. The United Nations System of National Accounts provides that value added is valued at basic prices (excluding net taxes on products) or producer prices (including net taxes on products paid by producers, but excluding sales or value-added taxes). Both assessments exclude transport costs which are invoiced separately by the manufacturers.
Notes
Ideally, industrial production should be measured through censuses and periodic surveys of enterprises. However, in most developing countries such surveys are infrequent, so the results of previous surveys must be extrapolated using an appropriate indicator. The choice of the sampling unit, which can be the enterprise (where responses can be based on financial records) or the local unit (where production units can be recorded separately), also affects the quality of the data. In addition, much of industrial production is organized in enterprises that are not incorporated or managed by the owners, which are not detected by surveys aimed at the formal sector. Even in large industries, where regular investigations are more likely, evasion of excise duties and other taxes and failure to disclose income lower estimates of value-added. These problems are exacerbated when countries move from state control of industry to private enterprise, because new businesses and a growing number of established firms do not declare. In accordance with the System of National Accounts, production should include all these unreported activities, as well as the value of illegal activities and other unregistered, informal or small-scale transactions. Data on these activities must be collected using techniques other than traditional business surveys. Data for OECD countries are based on ISIC, revision 4.
Presence in policy-oriented statistical systems
ENP-South Eurostat Data Browser: "Economics and Finance" Area
Percentage of the value added of medium and high-tech industry in the total value added of manufacturing industry.
Sources
elaborations of World Bank Development Indicators on data from the United Nations Industrial Development Organization (UNIDO)
Methodology
Data are collected using the General Questionnaire on Industrial Statistics, compiled by the National Institutes of Statistics and sent annually to UNIDO. Data for OECD countries are obtained directly from the OECD. Country data is also collected from official publications and official websites. The missing values at national level are imputed according to the methodology of the Competitive Industrial Performance Report (UNIDO, 2017).
Notes
Conversion to dollars or differences in ISIC combinations can cause discrepancies between national and international data.
Services correspond to ISIC divisions 45-99 and include the added value of wholesale and retail trade (including hotels and restaurants), transportation, and governmental, financial, professional, and personal services such as education, healthcare, and real estate services. Also included are charges charged for banking services, import duties, and any statistical discrepancies detected by domestic compilers, as well as discrepancies resulting from downsizing. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for the depreciation of manufactured goods or for the depletion and degradation of natural resources. Reference is made to the International Standard Classification of Industries (ISIC), revision 3 or 4.
Sources
WeMed elaborations on World Bank Development Indicators data
Methodology
Value added is the value of the gross output of producers minus the value of intermediate goods and services consumed in production, before accounting for the consumption of fixed capital in production. The United Nations System of National Accounts provides that value added is valued at basic prices (excluding net taxes on products) or producer prices (including net taxes on products paid by producers, but excluding sales or value-added taxes). Both assessments exclude transport costs which are invoiced separately by the manufacturers.
Notes
In the service sector, the many self-employed and sole proprietorships are sometimes difficult to identify and have little incentive to respond to surveys, let alone declare all their earnings. Compounding these problems are the many forms of economic activity that go unregistered, including the work that women and children do for little or no pay.
Presence in policy-oriented statistical systems
ENP-South Eurostat Data Browser: "Economics and Finance" Area
