OPEC headquarters in Vienna. Wikimedia
OPEC Exports Jump To $1.26 Trillion -- Arab News/Reuters
LONDON: OPEC’s petroleum exports jumped in value by almost 10 percent in 2012 year-on-year and the producers’ GDP climbed 12 percent, according to the group’s latest report, an income surge that looks harder to repeat this year.
The gains, announced in OPEC’s Annual Statistical Bulletin 2013, reflect record prices and steadily climbing output last year from many members of the Organization of the Petroleum Exporting Countries.
An increase in cash flow is a big advantage for producer countries.
The value of the group’s petroleum exports rose to $1.26 trillion in 2012 from $1.15 trillion in 2011, the report said, while its collective GDP at current prices amounted to $3.35 trillion, up from $3.0 trillion in 2011.
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