Economy and Business of the Middle East 2010

Economy and Business of the Middle East. Analytics, statistics and reports of Economy situation in different countries of the Middle East

Stabilization of the Turkish economy in the 80s-90s With the beginning of 1980 Turkey carried out stabilization measures aimed at reducing the deficit in public finances. At the same time great attention was paid to the promotion of industrial exports in order to improve balance in the current balance of payments. A certain inconsistency was observed in the implementation of these policies after coming to power in concentration in 1983 the civilian government of T. Ozal, which did not afford to deal with the problem of inflation. Read more >>>

Palestinian economy Major industries PNA are agriculture, industry, trade and services are focused on a "common market" with Israel. St. 60% of the agricultural products of these territories (mainly olives, tobacco, citrus, vegetables and some raw materials) is sent for processing and consumption in Israel. Agricultural exports in value terms - $ 603 million. The structure of GDP in 2002 includes agriculture, amounted to 9%, industry - 28%, services - 63%.PNA is among those countries whose economic viability depends heavily on foreign financial assistance. In 1994-1998 this assistance was provided (U.S. $ million): the Arab world - 43, Europe (EU) - 277, USA - 65, Japan - 62, WB - 24. Read more >>>

Modern economy of Turkey In the 1st half of 2000 Turkey has achieved significant successes in the fight against inflation: an increase in wholesale prices in January - April amounted to 16,2% (the lowest level for the same period during the previous 13 years). Partially achieved by stabilizing the financial market has been disrupted differences in power structures that have had unfavorable consequences for the socio-political sphere. As a result, society is once again lost confidence in the ongoing stabilization program; the Turkish lira was subjected to massive attacks. February 19 dollar demand reached 7.6 billion dollars, bringing the central bank announced the transition to a floating exchange rate, which was tantamount to declaration of an uncontrolled devaluation. Read more >>>

Economy of the United Arab Emirates Unprecedented economic growth in the history of the UAE were possible due to the production and export of oil, which provided some of the world's highest rates of GDP per capita. UAE GDP, calculated at purchasing power parity, amounted to $ 51 billion, GDP per capita - U.S. $ 21,100 (2001). Real GDP growth is 5% (2001).Agriculture is represented mainly manufacture dates, fruits and vegetables, poultry and egg production, animal husbandry, fisheries (around 100 thousand tons of fish per year), production of pearls. Fish consumption in UAE is one of the highest in the world - 140 kg per capitaExtensively developed are wholesale and retail trade, services, and tourism. There are many shops and shopping centers, among them - the popular tourist district of Deira, and market gold jewelry Gold Souk in Dubai, the famous shopping malls in Sharjah. Read more >>>

Economy of Saudi Arabia Economic development of modern Saudi Arabia is characterized by a major leap in the oil industry, with a gradual expansion of production in related industries and some manufacturing industries. Saudi Arabia's GDP, calculated at purchasing power parity of currencies, amounted to 241 billion dollars. GDP per capita is $ 10600 (2001). The real GDP growth 1.6% (2001). Read more >>>

Yemen Economy The geographical position of Yemen with a large coastline promotes the development of fisheries, sea fishing and pearling. There are no railways in Yemen. The length of highways is 69,263 km, of which only 9,963 km paved (paved). The length of the pipeline is 644 km for oil and 32 km for petroleum products. Read more >>>

Economy of Syria Economy of Syria. Despite limited natural resources, the mining industry in recent years has been regarded the most dynamic sector of the economy. The country produces oil (35-40 million tons per year), phosphate, rock salt, gypsum, building stone, etc. Oil accounts for more than 90% of the output. Traditional industries of the Syrian economy are textiles, mainly cotton, as well as flavoring Read more >>>

How oil affects Middle East economies According to experts, "oil factor" has remained a crucial element affecting international relations for a hundred years. And although the period of absolute power of the largest oil producers in determining the policies of their country abroad has remained in the past, and leading countries of the world, as well as the  developing ones are still strongly influenced by energy factor, including oil one. Read more >>>

Famous business in Middle East Famous business in Middle East is the oil industry. It is a source of huge profits. But oil deposits are limited. Therefore oil monoculture is dangerous for oil-exporting countries, and they take variety of measures to diversify the industrial structure. The other famous business in Middle East is tourism. In these economies the important role currently belongs to the sphere of services especially trade. Read more >>>

Expanding business in the Middle East Iran and the United Arab Emirates are leaders in the field of Internet access in Middle East. In 2003 there were only 16 million users, and in 2008 - 85.5 million users. The arrival of the Internet in 1990th in this region was long and tortuous, but the spread was quickly. In the 2000th the satellite TV and mobile communications became available even in poor countries of Middle East. Read more >>>

Doing business and Ramadan in the Middle East The Holy Month of Ramadan is a time of fasting. Its beginning and end are determined according to the Muslim lunar calendar. Doing business and Ramadan Middle East. During Ramadan the business stops. Ramadan every year mixed up to 13 days in advance and lasts 28-30 days. Read more >>>

Business opportunities in Middle East In 2008, the Middle East remained high economic growth rates that exceeded the pace of world economic growth ninth consecutive year. The basis of the expected growth in real GDP is high commodity prices, robust domestic demand and the sustainability of macroeconomic policy. And even despite the fact that growth in Middle East countries are lagging behind the pace of growth in developing countries until Read more >>>

Economy of Iraq before the war against USA The modern economy of Iraq is a typical example of the national economy that exists within a totalitarian regime and a command-administrative system. As a result of the UNO Security Council sanctions the growth rates had declined since 1991. If in 1965-1973 the average annual GDP growth rate reached 4.4%, in 1974-1980  – 10.4%, after the introduction of sanctions and the actual cessation of oil exports the production GDP has been drastically reduced. The average annual rate of decline of GDP in 1989-1993 (in prices of 1980) reached minus 32.3%. Later, according to the UNO, the growth resumed and the average Read more >>>

Economy of Iran The economic development of Iran is characterized with a heavy dependence on oil, state control over key sectors of the economy, public sector, central planning, the introduction of Islamic economic rules in the economy. The problem, which originated in the Shah's period of economic modernization and retained sharpness in modern Iran, is not only the industrial dependence on imports of equipment, semis, but also the food dependence on the world market. Liberalization of the foreign trade and the use of external loans led to the formation of public debt, inflation growth in 1990th. Read more >>>

Economy of Bahrain In 2001, Bahrain's GDP, amounted to $ 8.4 billion, GDP per capita - $ 11.614 thousand, real GDP growth - 5%, inflation - 0.5%. Share of Bahrain in the world economy is insignificant - less than 1%. Manpower - 299 thousand people (2001). Most of them are immigrants (60%). Unemployment is 16.5% (2001). Economic structure of contribution to the GDP in 2001: agriculture 0.7%, industry 45%, services 54.3%. Structure of GDP on employment was as follows: in industry, commerce and services sector employs 79% of the population, in the state structures - 20%, in agriculture - 1% (2001). The main branch of industry is oil and Read more >>>

Economic reform and privatization in Algeria In a structural crisis in the economy in 1986 the Government announced the introduction of the program "strong economy" in the country. The mass strikes of the workers and students in October 1989 were one of the consequences of its use. Further the government has expanded its operation to other spheres of economy and politics. In particular, the governmental control of association activity weakened a bit, and there wer Read more >>>

Economy of Algeria The economy of Algeria is a lower middle-income country coming under the Middle East and North African region, according to the Classification of Economies by region and income, FY 2005 made by the World Bank. Economic policy reforms supported by the IMF and debt rescheduling from the Paris Club in the past decade have helped improve Algeria's financial and macroeconomic indicators. The country has a surface area of 2.4 million square kilometers in the year 2003. Read more >>>

Economy of Kuwait Economic prosperity of Kuwait is associated with Kuwait's oil production. Kuwait's GDP is calculated at purchasing power parity of currencies, amounted $ 30.9 billion, GDP per capita - $ 15100 (2001). Real GDP grew is 4% (2001). Kuwait share in the global economy is small, much less than 1%, but Kuwait provides approx. 10% of world oil production. The number of labor force is approx. 1.3 million people. (more than half of working-age population are immigrants). Unemployment is 1.6% (1996). Inflation - 2.7% (2002). Read more >>>

Economy of Lebanon The significant growth of the Lebanese economy was promoted with the implementation of the Government's Plan "Horizon 2000", aimed at restoring the country, demanding $ 18 billion for its realization. The plan included a large number of projects relating to the development in all spheres of life of Lebanese society - the economy, including the productive sector, infrastructure, social sector. After 10 years after the civil war, Lebanon occupied again a key position in trade and business activity in the eastern Mediterranean and in the Middle East. Read more >>>