Portal:Central Intelligence Agency

“ The economy has historically been based on cattle raising and crops. Agriculture today provides a livelihood for over 80% of the population, but produces only about 50% of food needs and contributes a small 5% to GDP. The driving force behind the rapid economic growth of the 1970s and 1980s has been the mining industry. This sector, mostly on the strength of diamonds, has gone from generating 25% of GDP in 1980 to over 50% in 1988. No other sector has experienced such growth, especially not that of the agricultural sector, which is plagued by erratic rainfall and poor soils. ”

“ Aided by a long period of peace and neutrality during World War I through World War II, Sweden has achieved an enviable standard of living under a mixed system of high-tech capitalism and extensive welfare benefits. ”

“ Once the world's largest rice importer, Indonesia is now nearly self-sufficient. Plantation crops rubber and palm oil are being encouraged for both export and job generation. The diverse natural resources include crude oil, natural gas, timber, metals, and coal. Of these, the oil sector dominates the external economy, generating more than 20% of the government's revenues and 40% of export earnings in 1989. Japan is Indonesia's most important customer and supplier of aid. ”

“ The oil price decline in recent years has had an adverse impact on the economy. Petroleum production and processing account for about 85% of export receipts, 60% of government revenues, and 20% of GDP. In 1986 soft oil-market conditions led to a 5% drop in GDP, in sharp contrast with the 5% average annual growth rate during the early 1980s. The slowdown in economic activity, however, has helped to check the inflation of the 1970s. The government's past economic diversification efforts have moderated the severity of the downturn but failed to offset oil and gas revenue losses. ”

“ Agriculture, including fishing and forestry, is the leading sector of the economy. It contributes about 40% to GDP, employs 80% of the labor force, and provides most of the exports. The country is not self-sufficient in food production, and rice, the main staple, accounts for 90% of imports. During the period 1982-86 the industrial sector grew at an annual average rate of 5.3%, but its contribution to GDP was less than 4% in 1986. ”

“ The UAE has an open economy with one of the world's higher levels of income per capita. This wealth is based on oil and gas, and the fortunes of the economy fluctuate with the prices of those commodities. Since 1973, when petroleum prices shot up, the UAE has undergone a profound transformation from an impoverished region of small desert principalities to a modern state with a high standard of living. At present levels of production, crude oil reserves should last for over 100 years. ”

“ Inflation remains low because of sound government policy and harmonious labor-management relations. Unemployment is negligible, a marked contrast to the larger economies of Western Europe. This economic stability helps promote the important banking and tourist sectors. Since World War II, Switzerland's economy has adjusted smoothly to the great changes in output and trade patterns in Europe and presumably can adjust to the challenges of the 1990s, in particular, the further economic integration of Western Europe and the amazingly rapid changes in East European political/economic prospects. ”

“ Socialist policy, embodied in a thicket of bureaucratic regulations, in many instances has driven away or pushed underground the mercantile and entrepreneurial spirit for which Syrian businessmen have long been famous. Two bright spots: a sizable number of villagers have benefited from land redistribution, electrification, and other rural development programs; and a recent find of light crude oil has enabled Syria to cut back its substantial imports of light crude. ”

“ Although Japan has few natural resources, since 1971 it has become the world's third-largest industrial economy, ranking behind only the US and the USSR. Government-industry cooperation, a strong work ethic, and a comparatively small defense allocation have helped Japan advance rapidly, notably in high-technology fields. Industry, the most important sector of the economy, is heavily dependent on imported raw materials and fuels. Self-sufficient in rice, Japan must import 50% of its requirements for other grain and fodder crops. ”

“ The economy is based on service activities connected with the country's strategic location and status as a free trade zone. Djibouti provides services as both a transit port for the region and an international transshipment and refueling center. It has few natural resources and little industry. The nation is, therefore, heavily dependent on foreign assistance to help support its balance of payments and to finance development projects. An unemployment rate of over 50% continues to be a major problem. ”

“ Abundant natural resources and hydropower form the basis of industrial development. Output of the extractive industries includes coal, iron ore, magnesite, graphite, copper, zinc, lead, and precious metals. Manufacturing emphasis is centered on heavy industry, with light industry lagging far behind. The use of high-yielding seed varieties, expansion of irrigation, and the heavy use of fertilizers have enabled North Korea to become largely self-sufficient in food production. North Korea, however, is far behind South Korea in economic development and living standards. ”

“ In 1988 and 1989 the Liberian economy posted its best two years in a decade, thanks to a resurgence of the rubber industry and rapid growth in exports of forest products. Richly endowed with water, mineral resources, forests, and a climate favorable to agriculture, Liberia is a producer and exporter of basic products. Local manufacturing, mainly foreign owned, is small in scope. Liberia imports primarily machinery and parts, transportation equipment, petroleum products, and foodstuffs. ”

“ Open inflation and excess demand continue to plague the economy, and political repression, following the crackdown at Tiananmen in mid-1989, has curtailed tourism, foreign aid, and new investment by foreign firms. Popular resistance and changes in central policy have weakened China's population control program, which is essential to the nation's long-term economic viability. ”

“ Timber, hydropower, and iron ore constitute the resource base of an economy that is heavily oriented toward foreign trade. Privately owned firms account for about 90% of industrial output, of which the engineering sector accounts for 50% of output and exports. As the 1990s open, however, Sweden faces serious economic problems: long waits for adequate housing, the decay of the work ethic, and a loss of competitive edge in international markets. ”

“ Offshore banking, manufacturing, and tourism are key sectors of the economy. The government's policy of offering incentives to high-technology companies and financial institutions to locate on the island has paid off in expanding employment opportunities in high-income industries. As a result, agriculture and fishing, once the mainstays of the economy, have declined in their shares of GNP. Banking now contributes over 20% to GNP and manufacturing about 15%. ”

“ In the 1980s Mexico experienced severe economic difficulties: the nation accumulated large external debts as world petroleum prices fell; rapid population growth outstripped the domestic food supply; and inflation, unemployment, and pressures to emigrate became more acute. Growth in national output dropped from 8% in 1980 to 1.1% in 1988 and 2.5% in 1989. The US is Mexico's major trading partner, accounting for two-thirds of its exports and imports. After petroleum, border assembly plants and tourism are the largest earners of foreign exchange. ”

“ The economy, a mixture of private enterprises of all sizes and extensive government intervention, experienced enormous difficulties in the late 1980s, notably declining real growth, runaway inflation, foreign debt obligations of more than $100 billion, and uncertain economic policy. ”

“ The low level of domestic industry and agriculture make North Yemen dependent on imports for virtually all of its essential needs. Large trade deficits are made up for by remittances from Yemenis working abroad and foreign aid. Once self-sufficient in food production, the YAR is now a major importer. Land once used for export crops—cotton, fruit, and vegetables—has been turned over to growing qat, a mildly narcotic shrub chewed by Yemenis that has no significant export market. Oil export revenues started flowing in late 1987 and boosted 1988 earnings by about $800 million. ”