According to the latest statistics released by the World Bank in 2024, among the OPEC countries in 1970, Nigeria ranked first in terms of gross domestic product(GDP), with a total economic volume of $12.55 billion; Venezuela ranked second in terms of GDP, with a total economic volume of $11.56 billion; Iran ranked third in terms of GDP, with a total economic volume of $10.98 billion; Saudi Arabia ranked fourth in terms of GDP, with a total economy of $5.38 billion; and Algeria, with a total economy of $4.86 billion, ranked fifth in GDP.
| Rank | Country | GDP |
|---|---|---|
| 1 | Nigeria | $12.55 billion |
| 2 | Venezuela | $11.56 billion |
| 3 | Iran | $10.98 billion |
| 4 | Saudi Arabia | $5.38 billion |
| 5 | Algeria | $4.86 billion |
| 6 | Iraq | $3.28 billion |
| 7 | Kuwait | $2.87 billion |
| 8 | Gabon | $0.32 billion |
| 9 | Republic of Congo | $0.28 billion |
| 10 | Equatorial Guinea | $0.07 billion |