Will GCC Non-Oil Success Outpace Western Benchmarks?

Sub-Saharan African countries represent around one-third of the total, followed by Latin America and the Middle East (the latter two together representing over 40% of the overall). Consisting of, 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 locations in 2024 compared to 2000 while Qatar climbed up 24; both Saudi Arabia and Oman rose 17 ranks during the period. The caught or even worse off countries are some parts of Latin America and Sub-Saharan Africa where structural transformation has stalled.

reveals a significant 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 outperforming in the trade sub-index (supported by recent bilateral trade contracts & non-oil exports push). vs its pre-pandemic reading (partly offered the rise in medium & state-of-the-art production data).

ANSR July GCC PRs 50DR+

Its diversification metrics have stagnated, showing the least enhancement between the initial (2000-04) and final (2020-24) recommendation 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 performance.

Comparing GCC Capital Climates vs Global Markets

Kuwait and Saudi Arabia clocked in a boost in non-hydrocarbon income, "primarily reflecting non-hydrocarbon tax base expansions and profits collection efficiency enhancements", according to the IMF. In the present geopolitical environment identified by magnifying, it remains in the very best interests of commodity reliant nations to diversify its export base, exports and trade partners.