Impact of Capital on GCC Economic Development

Sub-Saharan African countries account for around one-third of the overall, followed by Latin America and the Middle East (the latter 2 together representing over 40% of the total). 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 ).

ANSR July GCC PRs 50DR+

and ranked greater than others; UAE is up more than 45 places in 2024 compared to 2000 while Qatar climbed up 24; both Saudi Arabia and Oman increased 17 ranks throughout the period. The trapped or worse off countries are some parts of Latin America and Sub-Saharan Africa where structural change has stalled.

reveals a significant boost in average EDI scores 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 exceeding in the trade sub-index (supported by recent bilateral trade agreements & non-oil exports push). vs its pre-pandemic reading (partly provided the surge in medium & state-of-the-art production data).

ANSR July GCC PRs 50DR+

Its diversity metrics have stagnated, showing the least improvement between the initial (2000-04) and last (2020-24) referral periods., regardless of the headwinds of OPEC+ production cuts. A robust non-hydrocarbon growth was supported by the GCC's robust domestic need (supported by a strong project pipeline and implementation) and strong services sector efficiency.

Vital Drivers Shaping Gulf Market Forecasts by 2026

Kuwait and Saudi Arabia clocked in an increase in non-hydrocarbon income, "mainly reflecting non-hydrocarbon tax base growths and income collection effectiveness enhancements", according to the IMF. In the present geopolitical environment defined by intensifying, it remains in the very best interests of product reliant countries to diversify its export base, exports and trade partners.