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Sub-Saharan African nations 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 higher than others; UAE is up more than 45 places in 2024 compared to 2000 while Qatar climbed 24; both Saudi Arabia and Oman increased 17 ranks during the period. The caught or even worse off nations are some parts of Latin America and Sub-Saharan Africa where structural change has actually stalled.
reveals a significant boost in typical EDI scores from 86.8 in 2000-04 to 92.6 in 2020-24, (up more than 10 points in the preliminary period versus 2020-24). with UAE outshining in the trade sub-index (supported by recent bilateral trade agreements & non-oil exports push). vs its pre-pandemic reading (partly provided the surge in medium & modern production data).
Its diversification metrics have actually stagnated, revealing the least enhancement between the initial (2000-04) and last (2020-24) recommendation 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 project pipeline and implementation) and strong services sector performance.
Decoding the Complexity of ESG Reporting Standards in the GulfKuwait and Saudi Arabia clocked in an increase in non-hydrocarbon earnings, "mostly showing non-hydrocarbon tax base growths and profits collection performance improvements", according to the IMF. In the present geopolitical environment characterized by heightening, it is in the finest interests of product reliant countries to diversify its export base, exports and trade partners.
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