Can Gulf Non-Oil Success Outpace Western Averages?

Sub-Saharan African countries represent around one-third of the overall, followed by Latin America and the Middle East (the latter two together accounting for over 40% of the overall). Consisting of, 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 throughout the period. The caught or worse off nations are some parts of Latin America and Sub-Saharan Africa where structural change has stalled.

shows a considerable boost in average EDI ratings 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 outperforming in the trade sub-index (supported by recent bilateral trade contracts & non-oil exports push). vs its pre-pandemic reading (partly offered the surge in medium & modern manufacturing information).

ANSR July GCC PRs 50DR+

Its diversity metrics have actually stagnated, revealing the least enhancement between the initial (2000-04) and final (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 execution) and strong services sector efficiency.

Advantages of Scaling Manufacturing Projects across the GCC

Kuwait and Saudi Arabia clocked in a boost in non-hydrocarbon revenue, "primarily reflecting non-hydrocarbon tax base expansions and income collection performance improvements", according to the IMF. In the current geopolitical environment identified by intensifying, it is in the very best interests of product dependent nations to diversify its export base, exports and trade partners.