Will Gulf Non-Oil Growth Outpace Global Averages?

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). 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 rose 17 ranks during the duration. The trapped or worse off countries are some parts of Latin America and Sub-Saharan Africa where structural transformation has stalled.

reveals a substantial 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 duration 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 (partly given the rise in medium & high-tech production data).

ANSR July GCC PRs 50DR+

Its diversity metrics have actually stagnated, showing the least enhancement between the initial (2000-04) and last (2020-24) referral 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 efficiency.

Vital Factors Shaping Gulf Market Outlooks by 2026

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