Diversification

Structural transformation enhances productivity and incomes while fostering diversification of production, thereby mitigating vulnerabilities to market shocks. The Bridgetown Covenant -—
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identifies “transforming the economies through diversification” as a critical element for inclusive prosperity. Access to requisite technologies, particularly in an increasingly digitalized landscape, is vital for successful structural transformation. The Covenant emphasizes that industrialization must align with sustainability and inclusivity to realize the goals of the 2030 Agenda while ensuring equitable distribution of its benefits.

The following sections discuss these themes based on an analysis of SDG indicators and other official statistics:

  1. Structural transformation to mitigate persistent technology gap
  2. Disruptions persist in maritime transport, challenging its resilience
  3. Digital technologies are key to economic diversification
  4. Productive capacities analysis key to reducing vulnerabilities in graduating LDCs
The digital economy is a powerful new engine of development, which is transforming trade itself, making it intangible and easy to scale, while at the same time risking to deepen divides and inequalities.Ms. Rebeca Grynspan, UNCTAD Secretary-General, UNCTAD60, 12 June 2024.

No developing economy invested more than
2.5% of GDP in R&D, in 2021.

Gulf of Aden ship tonnage drops by 73%; Cape of Good Hope traffic soars by 64% in just 3 months by March 2024.

World population covered by mobile networks: 90% by 4G and 38% by 5G.

PCI reveals: stalled structural transformation in LDCs up for graduation.

References

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