Arab World

UAE

The United Arab Emirates, with total proven oil reserves of 98.1 billion barrels, ranks third and represents around 9.5% of world reserves. The UAE has an open economy with one of the world's highest per capita incomes and with a sizable annual trade surplus. The UAE Dirham is fixed at AED 3.685 to US$1.

 

Saudi Arabia

Saudi Arabia has the largest reserves of petroleum in the world (26% of the proved total), ranks as the largest exporter of petroleum, and plays a leading role in OPEC. The petroleum sector accounts for roughly 75% of budget revenues, 40% of GDP, and 90% of export earnings. About 35% of GDP comes from the private sector.

Top

 

Kuwait

Kuwait with its strategic location at head of Persian Gulf has an open economy with proved crude oil reserves of about 94 billion barrels—10% of world reserves. Petroleum accounts for nearly half of GDP, 90% of export revenues, and 75% of government income.

 

Top

 

Qatar

Qatar's proved reserves of natural gas exceed 7 trillion cubic meters, more than 5% of the world total, third largest in the world. Production and export of natural gas are becoming increasingly important. Long-term goals feature the development of offshore petroleum and the diversification of the economy.

 

Top

 

Iran

Almost one-tenth of the world's oil and one-fifth of the world's natural gas reserve are in Iran. Besides this, Iran has large mineral deposits and considerable forest wealth. Iran's free trade zones offers incentives for investment and distribution of goods in the domestic and regional markets.

Top

Iraq

Iraq is the heart of one of the four great ancient civilizations. Its most valuable industry is the production of petroleum and natural gas. By late 1980s Iraq was producing a total of 743.3 million barrels of petroleum and 3.7 billion cubic meters of natural gas per year.

Top

Lebanon

The home of the Cedars, Lebanon known for its natural beauty has made impressive gains in economy since the launch of "Horizon2000," the government's $20 billion reconstruction program in 1993. Real GDP grew 8% in 1994 and 7% in 1995. During 1992-98, foreign exchange reserves jumped to more than $6 billion from $1.4 billion.

 

 

Top

Syria

Syria has a strong agricultural sector with roughly 80% of agricultural land still dependent on rain-fed sources. The major manufacturing industry in Syria is the production of cotton and silk textiles. Annual production of petroleum products is about 10 million metric tons.

Top

Jordan

Jordan is a unique and blessed land of the Old and New Testaments and the early years of Islam. Its largest industries are phosphate mining, fertilizers, potash, cement, oil refining and electric power generation. In late 1980s Jordan turned to light-manufactured goods and technical industries, such as pharmaceuticals.

 

Top

Bahrain

Petroleum production and processing account for about 60% of export receipts, 60% of government revenues and 30% of GDP. With its highly developed communication and transport facilities, Bahrain is home to numerous multinational firms with business in the Gulf.

 

 

Top

Yemen

In mid-1990s Yemen reported strong growth with the onset of oil production. Yemen has embarked on an IMF-supported structural adjustment program designed to modernize and streamline the economy, which has led to foreign debt relief and restructuring.

 

Top

 

Oman

Petroleum accounts for 75% of export earnings and government revenues and for roughly 40% of GDP. Oman has proved oil reserves of 4 billion barrels. The government is encouraging private investment, both domestic and foreign, as a prime force for further economic development.

 

Top

Egypt

Egypt is a significant oil producer and a rapidly growing gas producer. The Suez Canal and Sumed Pipeline are strategic routes for Persian Gulf oil shipments, making Egypt a focal point in world energy markets. The Egyptian economy has made remarkable progress in the 1990's under an IMF stabilization program.

 

Top

Libya

The high oil revenue and the small population give Libya one of the highest per capita GDPs in Africa. The non-oil manufacturing and construction sectors, which account for about 20% of GDP, have expanded from processing mostly agricultural products to include the production of petrochemicals, iron, steel, and aluminum.

Top