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Sub-Saharan African countries account for 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 been an (from 90.3 in 2000-04 to 92.6 and 92.3 in the 5 years pre- and post-pandemic ).
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 throughout the duration. The trapped or even worse off nations are some parts of Latin America and Sub-Saharan Africa where structural change 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 preliminary duration versus 2020-24). with UAE outshining in the trade sub-index (supported by current bilateral trade contracts & non-oil exports push). vs its pre-pandemic reading (partially provided the surge in medium & state-of-the-art manufacturing data).
Its diversity metrics have actually stagnated, revealing the least improvement in between the initial (2000-04) and final (2020-24) referral periods., in spite of the headwinds of OPEC+ production cuts. A robust non-hydrocarbon expansion was supported by the GCC's robust domestic need (supported by a strong project pipeline and implementation) and strong services sector performance.
Kuwait and Saudi Arabia clocked in a boost in non-hydrocarbon profits, "mainly showing non-hydrocarbon tax base expansions and earnings collection efficiency improvements", according to the IMF. In the existing geopolitical environment defined by intensifying, it remains in the very best interests of commodity dependent nations to diversify its export base, exports and trade partners.
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