At an average of 5.1% between 2003 and 2012, Turkey has experienced one of the world’s highest growth rates over the past decade. This was accompanied by drops in joblessness and poverty, as well as gains in school enrolment, home ownership and life expectancy.
With oil prices at sustained high levels and the government pushing ahead with a large-scale investment programme to upgrade infrastructure, address social issues and further diversification, Saudi Arabia’s economy is thriving.
While hydrocarbons continue to make up the lion’s share of the emirate’s GDP, oil revenues are supporting long-term efforts to diversify the economy. Oil and gas accounts for about 52% of real GDP, down on previous years, followed by construction, manufacturing and real estate. High-quality transport infrastructure, meanwhile, is boosting trade activity and free zones in Abu Dhabi.
Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.
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