Gulf Countries Face $70 Billion Loss; Recovery May Take 3–5 Years

Gulf countries have suffered an estimated loss of $70 billion (approximately ₹6.46 lakh crore) due to the war, with an overall GDP decline of about 2%.

Saudi Arabia, Qatar, and the UAE are among the most affected. Qatar has been hit the hardest, as nearly 80% of its income depends on oil and gas.

Refinery restoration in Qatar may take 3 to 5 years. Until then, its export capacity could remain 17% lower than pre-war levels. QatarEnergy alone is expected to incur losses of around $20 billion, while the Qatar stock market has lost approximately $13 billion.

Saudi Arabia's oil production has dropped from 10.4 million barrels per day to 8 million barrels per day, resulting in a loss of about $10 billion.

Meanwhile, India has faced relatively minimal impact due to its close ties with Israel and improving relations with Iran.