Is Middle East Becoming Global Industrial Powerhouse?

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

shows a considerable 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 outshining in the trade sub-index (supported by current bilateral trade arrangements & non-oil exports push). vs its pre-pandemic reading (partially offered the rise in medium & state-of-the-art production information).

ANSR July GCC PRs 50DR+

Its diversity metrics have actually stagnated, revealing the least improvement in between the preliminary (2000-04) and last (2020-24) reference periods., in spite of 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.

Key Drivers Shaping GCC Economic Outlooks by 2026

Kuwait and Saudi Arabia clocked in an increase in non-hydrocarbon revenue, "mainly showing non-hydrocarbon tax base growths and earnings collection effectiveness improvements", according to the IMF. In the current geopolitical environment characterized by intensifying, it remains in the finest interests of commodity dependent nations to diversify its export base, exports and trade partners.