This study presents a synoptic view of the main economic developments in the Middle East during 1954 and 1955. It analyses the main factors affecting the level of economic activity. In the study's introduction, the topics of population, income and economic development in the Middle East as a whole are discussed. 1. Production and transport -- 2. Growth of petroleum industry -- 3. Foreign trade and payments -- 4. Price, monetary and fiscal changes -- 5. Development programmes.