Will GCC Industrial Success Outpace Western Benchmarks?

Sub-Saharan African countries represent around one-third of the overall, followed by Latin America and the Middle East (the latter two together representing over 40% of the total). Including, 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 24; both Saudi Arabia and Oman increased 17 ranks throughout the duration. The caught or worse off nations are some parts of Latin America and Sub-Saharan Africa where structural transformation has actually stalled.

shows a considerable increase 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 outshining in the trade sub-index (supported by current bilateral trade agreements & non-oil exports push). vs its pre-pandemic reading (partly given the rise in medium & modern production information).

ANSR July GCC PRs 50DR+

Its diversity metrics have actually stagnated, showing the least improvement between the preliminary (2000-04) and final (2020-24) reference periods., despite the headwinds of OPEC+ production cuts. A robust non-hydrocarbon growth was supported by the GCC's robust domestic need (supported by a strong job pipeline and implementation) and strong services sector performance.

Comparing GCC Capital Climates vs Emerging Peers

Kuwait and Saudi Arabia clocked in a boost in non-hydrocarbon earnings, "primarily reflecting non-hydrocarbon tax base growths and income collection effectiveness improvements", according to the IMF. In the existing geopolitical environment characterized by magnifying, it is in the best interests of commodity dependent nations to diversify its export base, exports and trade partners.