Can Gulf Non-Oil Success Outpace Global Benchmarks?

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 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 ).

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 24; both Saudi Arabia and Oman increased 17 ranks during the period. The caught or even worse off countries are some parts of Latin America and Sub-Saharan Africa where structural improvement has actually stalled.

reveals a substantial increase in average EDI scores from 86.8 in 2000-04 to 92.6 in 2020-24, (up more than 10 points in the preliminary period versus 2020-24). with UAE exceeding in the trade sub-index (supported by recent bilateral trade contracts & non-oil exports push). vs its pre-pandemic reading (partially provided the rise in medium & high-tech production data).

ANSR July GCC PRs 50DR+

Its diversity metrics have actually stagnated, showing the least enhancement between the initial (2000-04) and last (2020-24) referral periods., regardless 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 job pipeline and execution) and strong services sector efficiency.

Top Foreign Investment Opportunities within the Middle East Economy

Kuwait and Saudi Arabia clocked in an increase in non-hydrocarbon revenue, "mostly reflecting non-hydrocarbon tax base growths and profits collection efficiency enhancements", according to the IMF. In the current geopolitical environment characterized by heightening, it remains in the finest interests of product dependent nations to diversify its export base, exports and trade partners.