Will Gulf Industrial Success Exceed Global Benchmarks?

Sub-Saharan African nations 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 5 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 up 24; both Saudi Arabia and Oman increased 17 ranks throughout the duration. The trapped or worse off countries are some parts of Latin America and Sub-Saharan Africa where structural transformation has actually stalled.

reveals a significant boost in typical 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 outperforming in the trade sub-index (supported by recent bilateral trade agreements & non-oil exports push). vs its pre-pandemic reading (partially given the surge in medium & state-of-the-art manufacturing data).

ANSR July GCC PRs 50DR+

Its diversity metrics have stagnated, showing the least improvement between the preliminary (2000-04) and last (2020-24) reference periods., despite the headwinds of OPEC+ production cuts. A robust non-hydrocarbon growth was supported by the GCC's robust domestic demand (supported by a strong task pipeline and application) and strong services sector efficiency.

Benefits of Expanding Industrial Projects across Middle East

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