Why Middle East Becoming Global Industrial Hub?

Sub-Saharan African countries represent around one-third of the overall, followed by Latin America and the Middle East (the latter 2 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 5 years pre- and post-pandemic ).

ANSR July GCC PRs 50DR+

and ranked higher than others; UAE is up more than 45 places in 2024 compared to 2000 while Qatar climbed up 24; both Saudi Arabia and Oman increased 17 ranks throughout the period. The trapped or even 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 preliminary duration versus 2020-24). with UAE outperforming in the trade sub-index (supported by recent bilateral trade agreements & non-oil exports push). vs its pre-pandemic reading (partly given the surge in medium & modern manufacturing data).

ANSR July GCC PRs 50DR+

Its diversity metrics have actually stagnated, showing the least enhancement in between the preliminary (2000-04) and final (2020-24) reference 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 task pipeline and application) and strong services sector efficiency.

Vital Factors Shaping GCC Market Forecasts by 2026

Kuwait and Saudi Arabia clocked in a boost in non-hydrocarbon revenue, "mostly showing non-hydrocarbon tax base expansions and profits collection effectiveness improvements", according to the IMF. In the current geopolitical environment characterized by heightening, it remains in the best interests of commodity reliant nations to diversify its export base, exports and trade partners.