Can Gulf Industrial Success Outpace Global Averages?

Sub-Saharan African nations account for around one-third of the total, followed by Latin America and the Middle East (the latter two together representing over 40% of the total). Including, there has been an (from 90.3 in 2000-04 to 92.6 and 92.3 in the five 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 increased 17 ranks during the duration. The trapped or worse off countries are some parts of Latin America and Sub-Saharan Africa where structural transformation has actually stalled.

shows a significant boost in average EDI scores from 86.8 in 2000-04 to 92.6 in 2020-24, (up more than 10 points in the initial period versus 2020-24). with UAE exceeding in the trade sub-index (supported by recent bilateral trade agreements & non-oil exports push). vs its pre-pandemic reading (partially given the rise in medium & state-of-the-art production information).

ANSR July GCC PRs 50DR+

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

Can Gulf Industrial Success Outpace Western Benchmarks?

Kuwait and Saudi Arabia clocked in a boost in non-hydrocarbon revenue, "mainly showing non-hydrocarbon tax base growths and earnings collection effectiveness enhancements", according to the IMF. In the existing geopolitical environment identified by heightening, it is in the very best interests of commodity reliant nations to diversify its export base, exports and trade partners.