Can GCC Non-Oil Growth 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 overall). 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 24; both Saudi Arabia and Oman rose 17 ranks during the period. The caught or even worse off nations are some parts of Latin America and Sub-Saharan Africa where structural transformation has actually stalled.

reveals a considerable 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 surpassing in the trade sub-index (supported by current bilateral trade contracts & non-oil exports push). vs its pre-pandemic reading (partially offered the rise in medium & high-tech production information).

ANSR July GCC PRs 50DR+

Its diversification metrics have stagnated, showing the least improvement in between the initial (2000-04) and last (2020-24) referral 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 job pipeline and implementation) and strong services sector performance.

Navigating Middle East Equity Market Trends through 2026

Kuwait and Saudi Arabia clocked in a boost in non-hydrocarbon income, "mostly showing non-hydrocarbon tax base expansions and earnings collection effectiveness enhancements", according to the IMF. In the current geopolitical environment identified by magnifying, it is in the very best interests of commodity reliant nations to diversify its export base, exports and trade partners.