Will Gulf Non-Oil Growth Outpace Western Benchmarks?

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 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 higher 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 during the duration. The caught or even worse off countries are some parts of Latin America and Sub-Saharan Africa where structural improvement has stalled.

shows a substantial increase in typical EDI scores from 86.8 in 2000-04 to 92.6 in 2020-24, (up more than 10 points in the initial duration versus 2020-24). with UAE outperforming in the trade sub-index (supported by current bilateral trade arrangements & non-oil exports push). vs its pre-pandemic reading (partially provided the surge in medium & state-of-the-art production data).

ANSR July GCC PRs 50DR+

Its diversification metrics have actually stagnated, revealing the least enhancement in 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 project pipeline and implementation) and strong services sector efficiency.

Vital Factors Influencing GCC Market Outlooks by 2026

Kuwait and Saudi Arabia clocked in an increase in non-hydrocarbon income, "mostly showing non-hydrocarbon tax base growths and earnings collection effectiveness enhancements", according to the IMF. In the existing geopolitical environment characterized by intensifying, it remains in the best interests of product dependent nations to diversify its export base, exports and trade partners.