Can Gulf Industrial Success Outpace Global Averages?

Sub-Saharan African nations account for around one-third of the overall, followed by Latin America and the Middle East (the latter 2 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 higher than others; UAE is up more than 45 places in 2024 compared to 2000 while Qatar climbed up 24; both Saudi Arabia and Oman increased 17 ranks during the period. The caught or worse off nations are some parts of Latin America and Sub-Saharan Africa where structural change has stalled.

reveals a significant boost in average 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 exceeding in the trade sub-index (supported by recent bilateral trade agreements & non-oil exports push). vs its pre-pandemic reading (partly given the rise in medium & modern manufacturing data).

ANSR July GCC PRs 50DR+

Its diversification metrics have stagnated, revealing the least enhancement in between the initial (2000-04) and last (2020-24) reference 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 task pipeline and application) and strong services sector performance.

Navigating Middle East Stock Market Shifts through 2026

Kuwait and Saudi Arabia clocked in an increase in non-hydrocarbon revenue, "primarily showing non-hydrocarbon tax base expansions and profits collection performance improvements", according to the IMF. In the existing geopolitical environment characterized by magnifying, it is in the finest interests of commodity dependent countries to diversify its export base, exports and trade partners.