Benefits of Expanding Industrial Ventures across GCC

Sub-Saharan African countries account for around one-third of the total, followed by Latin America and the Middle East (the latter two together accounting for over 40% of the total). Including, there has actually been an (from 90.3 in 2000-04 to 92.6 and 92.3 in the 5 years pre- and post-pandemic ).

ANSR July GCC PRs 50DR+

and ranked greater than others; UAE is up more than 45 places in 2024 compared to 2000 while Qatar climbed 24; both Saudi Arabia and Oman rose 17 ranks during the period. The caught or even worse off countries are some parts of Latin America and Sub-Saharan Africa where structural change has actually stalled.

reveals a substantial boost in average EDI scores from 86.8 in 2000-04 to 92.6 in 2020-24, (up more than 10 points in the preliminary duration versus 2020-24). with UAE outshining in the trade sub-index (supported by current bilateral trade agreements & non-oil exports push). vs its pre-pandemic reading (partially given the surge in medium & modern production data).

ANSR July GCC PRs 50DR+

Its diversification metrics have actually stagnated, revealing the least enhancement in between the initial (2000-04) and last (2020-24) reference periods., despite the headwinds of OPEC+ production cuts. A robust non-hydrocarbon expansion was supported by the GCC's robust domestic need (supported by a strong task pipeline and execution) and strong services sector performance.

Why the Middle East Becoming Global Investment Powerhouse?

Kuwait and Saudi Arabia clocked in an increase in non-hydrocarbon earnings, "mostly showing non-hydrocarbon tax base expansions and revenue collection effectiveness improvements", according to the IMF. In the existing geopolitical environment characterized by heightening, it is in the best interests of product dependent nations to diversify its export base, exports and trade partners.