The Global Economic Diversification Index 2024
- Economic diversification promotes equitable growth and global resilience
- Active private sector involvement, government policy reforms, and investments are key for diversification.
- Digital economy investments enhance trade diversification, benefiting small economies like Singapore and Ireland.
Economic diversification drives equitable growth and global resilience. It involves active private sector involvement, government policy reforms, and investments to move away from reliance on limited products. The Global Economic Diversification Index (EDI) measures this evolution since 2000.
The 2024 edition covers 112 countries, showing that digital economy investments enhance trade diversification, benefiting even small economies like Singapore and Ireland. Commodity-dependent nations can improve diversification through digital technology adoption. Geographical size doesn't hinder diversification, as evidenced by high-scoring small nations like Singapore and Ireland.
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