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Sub-Saharan African countries account for around one-third of the total, followed by Latin America and the Middle East (the latter two together accounting for over 40% of the overall). Including, there has been an (from 90.3 in 2000-04 to 92.6 and 92.3 in the 5 years pre- and post-pandemic ).
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 trapped or even worse off nations are some parts of Latin America and Sub-Saharan Africa where structural transformation has actually stalled.
Future Middle Eastern Economic Outlookshows a substantial increase in typical EDI ratings from 86.8 in 2000-04 to 92.6 in 2020-24, (up more than 10 points in the preliminary duration versus 2020-24). with UAE surpassing in the trade sub-index (supported by recent bilateral trade contracts & non-oil exports push). vs its pre-pandemic reading (partly given the rise in medium & state-of-the-art production information).
Its diversification metrics have actually stagnated, showing the least enhancement between the preliminary (2000-04) and final (2020-24) reference periods., regardless 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 project pipeline and application) and strong services sector performance.
Future Middle Eastern Economic OutlookKuwait and Saudi Arabia clocked in a boost in non-hydrocarbon profits, "primarily reflecting non-hydrocarbon tax base expansions and profits collection efficiency enhancements", according to the IMF. In the existing geopolitical environment characterized by magnifying, it is in the very best interests of commodity reliant countries to diversify its export base, exports and trade partners.
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