(MENAFN) The Gulf Organization for Industrial Consulting's (GOIC) latest report shows that non-oil exports of the Gulf Cooperation Council (GCC) grew to nearly USD246 billion in 2011, from around USD201 billion a year before, reported Emirates 24/7.
Meanwhile, the GCC's total oil, gas and other exports soared by 40 percent to around USD928 billion, compared with USD663 billion in 2010.
The report attributed the surge to higher crude prices that exceeded USD105 per barrel, from less than USD70 in the previous year.
In the period, Japan remained the largest market for GCC's exports, importing about 10 percent of the region's total exports in the year.
Exports to the country reached about USD96.5 billion, meanwhile, China ranked at the second place, with its imports from the GCC reaching around USD57.3 billion, followed by the EU with USD44.6 billion.
It is worth noting that the GCC's exports include oil and gas, petrochemicals, other petroleum products, cement, aluminum and other light products.