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Sub-Saharan African countries represent around one-third of the overall, followed by Latin America and the Middle East (the latter 2 together accounting for over 40% of the total). Including, there has been an (from 90.3 in 2000-04 to 92.6 and 92.3 in the 5 years pre- and post-pandemic ).
and ranked greater than others; UAE is up more than 45 locations in 2024 compared to 2000 while Qatar climbed up 24; both Saudi Arabia and Oman increased 17 ranks during the duration. The trapped or even worse off countries are some parts of Latin America and Sub-Saharan Africa where structural change has stalled.
Refining Investment Pipelines for the Next-Gen Gulf Outlookreveals a substantial 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 period versus 2020-24). with UAE surpassing in the trade sub-index (supported by current bilateral trade arrangements & non-oil exports push). vs its pre-pandemic reading (partly offered the rise in medium & high-tech production information).
Its diversification metrics have actually stagnated, showing the least enhancement between the preliminary (2000-04) and final (2020-24) referral periods., despite the headwinds of OPEC+ production cuts. A robust non-hydrocarbon expansion was supported by the GCC's robust domestic need (supported by a strong job pipeline and implementation) and strong services sector performance.
Creating Sustainable Financial Portfolios with GCC AssetsKuwait and Saudi Arabia clocked in a boost in non-hydrocarbon income, "primarily showing non-hydrocarbon tax base expansions and earnings collection performance enhancements", according to the IMF. In the present geopolitical environment defined by magnifying, it is in the finest interests of commodity reliant countries to diversify its export base, exports and trade partners.
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