Organization of the Petroleum Exporting Countries Organization of the Petroleum Exporting Countries In the economy of Algeria the hydrocarbons sector is the backbone, accounting for roughly 52% of budget revenues, 25% of GDP, and over 95% of export earnings. Algeria has the fifth-largest reserves of natural gas in the world and is the second largest gas exporter; it ranks fourteenth for oil reserves. Algiers' efforts to reform one of the most centrally planned economies in the Arab world stalled in 1992 as the country became embroiled in political turmoil. ...more on Wikipedia about "Economy of Algeria"
Indonesia has a market-based economy in which the government plays a significant role. It owns more than 164 state-owned enterprises and administers prices on several basic goods, including fuel, rice, and electricity. In the aftermath of the financial and economic crisis that began in mid- 1997, the government took custody of a significant portion of private sector assets through acquisition of nonperforming bank loans and corporate assets through the debt restructuring process. ...more on Wikipedia about "Economy of Indonesia"
(Economy of Iran) Investment (gross fixed): ...more on Wikipedia about "Economy of Iran"
(Economy of Iraq) Household income or consumption by percentage share: ...more on Wikipedia about "Economy of Iraq"
(Economy of Kuwait) Investment (gross fixed): ...more on Wikipedia about "Economy of Kuwait"
Libya's socialist-oriented economy depends primarily upon revenues from the petroleum sector, which contributes practically all export earnings and about one-quarter of GDP. These oil revenues and a small population give Libya one of the highest per capita GDPs in Africa, but little of this income flows down to the lower orders of society. In this statist society, import restrictions and inefficient resource allocations have led to periodic shortages of basic goods and foodstuffs. The nonoil 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 aluminium. Climatic conditions and poor soils severely limit farm output, and Libya imports about 75% of its food requirements. Higher oil prices in 1999 led to an increase in export revenues and helped to stimulate the economy. Following the suspension of UN sanctions in 1999, Libya has been trying to increase its attractiveness to foreign investors, and several foreign companies have visited in search of contracts. ...more on Wikipedia about "Economy of Libya"
(Economy of Nigeria) GDP: ...more on Wikipedia about "Economy of Nigeria"
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(Economy of Qatar) GDP: ...more on Wikipedia about "Economy of Qatar"
Economy - overview: ...more on Wikipedia about "Economy of Saudi Arabia"
(Economy of the United Arab Emirates) GDP: ...more on Wikipedia about "Economy of the United Arab Emirates"
Although a manufacturing sector producing consumer goods exists, the economy of Venezuela is still based on oil. Since 1950s to the beginning of 1980s the Venezuelan economy was one of the strongest in South America. This continuous growth during that period attracted many immigrants. Since the collapse of the oil price in mid 1980s the economy has mainly contracted. The positive sign of the economy has been a balance of payments surplus due to the strong oil export. ...more on Wikipedia about "Economy of Venezuela"
The Organization of the Petroleum Exporting Countries (OPEC) is made up of Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela; since 1965 its international headquarters are in Vienna, Austria. ...more on Wikipedia about "Organization of the Petroleum Exporting Countries"
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