Export Diversity The breadth of a market’s exports
Export diversity is measured by the variety of products a market exports and how export revenue is spread across that product range. The markets that rank highly on these metrics have made the most progress in terms of diversifying their exports, which is likely to open new prospects for trade growth and make them less vulnerable to market pressures.
Middle Eastern markets have made great strides here – albeit from a relatively low starting point – with Bahrain, Oman and Qatar performing well due to efforts to move away from a reliance on oil exports. European countries also score well for improvements made to export diversity in the past decade. These mature markets have developed export structures that enable them to continue building their export diversity.
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