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Sub-Saharan African countries account for around one-third of the total, followed by Latin America and the Middle East (the latter 2 together representing over 40% of the overall). Including, there has actually been an (from 90.3 in 2000-04 to 92.6 and 92.3 in the five years pre- and post-pandemic ).
and ranked greater than others; UAE is up more than 45 places in 2024 compared to 2000 while Qatar climbed up 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 stalled.
Driving Efficiency: The Privatization Wave Hitting Kuwaiti Servicesreveals a substantial increase in typical EDI ratings 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 surpassing in the trade sub-index (supported by current bilateral trade agreements & non-oil exports push). vs its pre-pandemic reading (partly provided the surge in medium & state-of-the-art manufacturing data).
Its diversity metrics have actually stagnated, revealing the least enhancement in between the initial (2000-04) and last (2020-24) referral periods., in spite of the headwinds of OPEC+ production cuts. A robust non-hydrocarbon growth was supported by the GCC's robust domestic need (supported by a strong project pipeline and application) and strong services sector efficiency.
Kuwait and Saudi Arabia clocked in an increase in non-hydrocarbon earnings, "mainly reflecting non-hydrocarbon tax base expansions and profits collection effectiveness enhancements", according to the IMF. In the present geopolitical environment identified by heightening, it remains in the very best interests of commodity dependent nations to diversify its export base, exports and trade partners.
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