Can Gulf Industrial Growth Outpace Global Averages?

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 total). Consisting of, there has been an (from 90.3 in 2000-04 to 92.6 and 92.3 in the five 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 24; both Saudi Arabia and Oman rose 17 ranks throughout the duration. The trapped or worse off countries are some parts of Latin America and Sub-Saharan Africa where structural change has actually stalled.

shows 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 surpassing in the trade sub-index (supported by recent bilateral trade agreements & non-oil exports push). vs its pre-pandemic reading (partly offered the rise in medium & high-tech manufacturing information).

ANSR July GCC PRs 50DR+

Its diversity metrics have actually stagnated, revealing the least improvement between the preliminary (2000-04) and last (2020-24) reference periods., regardless 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 task pipeline and execution) and strong services sector performance.

Vital Factors Influencing Gulf Market Forecasts by 2026

Kuwait and Saudi Arabia clocked in an increase in non-hydrocarbon profits, "mainly showing non-hydrocarbon tax base expansions and profits collection efficiency enhancements", according to the IMF. In the present geopolitical environment identified by intensifying, it remains in the very best interests of commodity reliant countries to diversify its export base, exports and trade partners.