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Sub-Saharan African countries account for around one-third of the total, followed by Latin America and the Middle East (the latter 2 together accounting for over 40% of the overall). 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 ).
and ranked higher 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 worse off nations are some parts of Latin America and Sub-Saharan Africa where structural change has stalled.
Which GCC Nations Are Winning the Race for Foreign Capital?shows a considerable increase 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 current bilateral trade contracts & non-oil exports push). vs its pre-pandemic reading (partly given the rise in medium & modern manufacturing data).
Its diversification metrics have actually stagnated, showing the least improvement in between the initial (2000-04) and final (2020-24) recommendation periods., in spite of the headwinds of OPEC+ production cuts. A robust non-hydrocarbon expansion was supported by the GCC's robust domestic demand (supported by a strong job pipeline and execution) and strong services sector performance.
Which GCC Nations Are Winning the Race for Foreign Capital?Kuwait and Saudi Arabia clocked in a boost in non-hydrocarbon earnings, "primarily showing non-hydrocarbon tax base expansions and profits collection efficiency improvements", according to the IMF. In the existing geopolitical environment identified by magnifying, it remains in the best interests of commodity dependent countries to diversify its export base, exports and trade partners.
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