2024: The Economic Titans of the Islamic World — Top 10 Muslim-Majority Economies Shaping the Global Landscape

As of 2024, the global economy continues to be shaped by the economic performances of Muslim-majority countries across different regions. This article examines the top 10 Muslim-majority countries by nominal Gross Domestic Product (GDP), shedding light on their economic size, development pace, and their standing in the global economy.

1. Indonesia 🇮🇩

Southeast Asia’s largest economy, Indonesia, is notable for its rich natural resources and vast consumer market. The country leverages its demographic advantage and increasing domestic consumption as cornerstones of its economic growth.

2. Turkiye 🇹🇷

With its strategic location, extensive industrial and service sectors, Turkiye is on the path to becoming a regional power center. Especially, its successes in exports and tourism significantly contribute to Turkiye’s economic growth.

3. Saudi Arabia 🇸🇦

As one of the world’s richest countries in terms of oil reserves, Saudi Arabia places great emphasis on diversifying its economy and investing in non-oil sectors. The Vision 2030 program lays the foundation for this transformation.

4. Egypt 🇪🇬

Africa’s third-largest economy, Egypt boasts a vast population and diverse economic sectors. Agriculture, tourism, and energy play key roles in the country’s economic growth.

5. Pakistan 🇵🇰

One of the world’s most populous countries, Pakistan is on its way to fully utilizing its economic potential. The textile, agriculture, and service sectors are the mainstays of Pakistan’s economy.

6. Bangladesh 🇧🇩

With a rapid industrialization and export-driven growth model, Bangladesh has shown remarkable economic development in recent years. The textile sector, in particular, accounts for a significant portion of the country’s export earnings.

7. Nigeria 🇳🇬

Africa’s largest economy, Nigeria, is rich in oil and natural gas resources. However, the country faces significant challenges in increasing economic diversity and addressing socio-economic issues.

8. United Arab Emirates 🇦🇪

The UAE, with its high income level and diversified economy, is one of the region’s most dynamic economies. Tourism, finance, and technology are sectors that contribute significantly to the country’s economic growth.

9. Iran 🇮🇷

Despite its rich oil and natural gas resources, Iran’s economy is under the impact of international sanctions. Nevertheless, it holds significant potential in energy, agriculture, and technology areas.

10. Malaysia 🇲🇾

With strong industrial and service sectors, Malaysia is among Southeast Asia’s leading economies. The country is a significant player in the high-tech products and financial services sectors.