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Economy of Syria Syria is a middle-income country with a diversified economy based on agriculture, industry, and energy. Agriculture contributes some 17 percent of Syria's GDP, compared to over 24 percent from industry, including oil, and around 54 percent from services. According to IMF data, the Syrian economy expanded by 3.4 percent in 2010 after growing 5.9 percent in 2009. The oil sector contributes about 20 per cent of the government’s revenues and about 40 per cent of its export receipts, according to data from the World Bank. Oil, exports of services and remittances are the main sources of foreign earnings and enable the government to finance its imports. The Syrian economy is totally exhausted after several years of revolution. All economic indicators are in the red in the violence-ravaged country. GDP has collapsed, inflation has skyrocketed, unemployment has risen, and the current account deficit continues to widen. These problems are compounded by EU sanctions, especially on the export of oil. The Syrian Center for Policy Research estimated that GDP has contracted 3.7% in 2011 and 18.8% in 2012 against original projections of an increase of 7.1% and 5.6%, respectively. Other indices are faring no better. Per capita income was forecast to drop from $4,784 in 2010 to $3050 in 2012. The budget deficit was forecast to grow significantly, and public debt, which represented 22.6 percent of GDP in 2010, was expected to exceed 50 percent in 2012 due to a 40 percent decrease in budget revenues and a 20 percent increase in spending. The Syrian economy is running at 30 percent capacity, and the banking system in the shadows. Public banks are under international sanctions, and private establishments are idling due to caution. The currency has eroded in value 50 percent against the dollar during the first two years of the turmoil despite two sales of $3 billion in gold and silver by the Central Bank. Total reserves, which stood at $19.5 billion, were predicted to fall to $9.6 billion in 2012 according to EIU estimates. The negative social and economic consequences of the violence are expected to have long-term consequences. The population growth has shrunk from 2.45% growth in 2010 to 2.5% shrinkage in 2012, with much of the educated, professional population taking flight. It is also worth noting the impact that sanctions have had on ordinary Syrian citizens. An estimated 28.3% of the first two years’ GDP loss is due to sanctions. Out of the 3.1 million newly poor individuals, 877,000 can be attributed to the effect of sanctions. Exports declined by 52% for Arab countries, 93% for EU countries, and 82% for Turkey. The sanctions make it much more difficult for Syria to import essential goods, including fuel and medicines, making these a luxury for many.
Essential Information Area: 185,180 sq km DEMOGRAPHY Age Distribution (2012 est.) NATURAL RESOURCES Visa Requirements: All non-Syrian and non-Arabic passport holders require visas. These can be obtained from the consulates abroad.
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Economy of Sudan Despite being the 17th fastest growing economy in the world with new economic policies and infrastructure investments, and the Sudan’s economy is relatively diversified and open, it has developed since 1999 a marked dependency on the oil sector that has substantially increased its vulnerability to external and fiscal shocks. The oil sector‘s contribution to GDP has been modest, hovering around 15 percent. However, it provided sizeable budget revenues and contributed a major share of the country’s foreign exchange receipts. The economic and financial losses related to South Sudan’s secession are substantial and have affected all the sectors of the economy. The loss of output is concentrated in the oil sector and estimated at 75 percent, compared with 5–10 percent in the rest of the economy. Prior to the country's breakup, Sudan oil production was close to 500,000 barrels per day. In terms of value-added, the overall loss is about SDG 50 billion (about 26 percent of 2012 GDP), of which about 19 percent of GDP in the oil sector. The revenue loss for the government is estimated at SDG 12 billion (about 6 percent of GDP), corresponding to the foregone oil revenues net of the transfers to South Sudan and the savings on wages of South Sudanese civil servants. On the external sector side, the main impact is related to the loss of oil exports estimated at about US$6.6 billion (12.9 percent of GDP) in 2012. Sudan has opened the country's first gold refinery, which officials say is one of Africa's largest plants. Analysts say it is part of a strategy by the government to deal with the loss of oil revenue following the session of South Sudan in 2011. Faced with the loss of most oil reserves to South Sudan when it seceded in 2011, Sudan is trying to boost exports of gold and farming exports such as cotton, cash crops or gum Arabic from its vast farmlands. The loss of oil revenues, which used to be the main source for state revenues and dollars needed to pay for food imports, has thrown the economy into turmoil. The Sudanese pounds has more than halved in value since the secession. After a year of uncertainty, the authorities approved in late June 2012 a comprehensive reform program to address the deterioration of the country’s economic and financial situation. The program-which builds on the authorities’ Three-Year Emergency Program - includes an exchange rate devaluation of about 66 percent, an increase in key taxes, a sharp reduction in fuel subsidies, cuts in non-priority spending, and a strengthening of the social safety nets. Rich mineral resources are available in Sudan including: petroleum, natural gas, gold, silver, chromite, asbestos, manganese, gypsum, mica, zinc, iron, lead, uranium, copper, kaolin, cobalt, granite, nickel, tin, aluminum.Agriculture production remains Sudan's most important sector, employing 80% of the workforce and contributing 39% of GDP, but most farms remain rain-fed and susceptible to drought. Essential Information Area: 1,861,484 (2,505,813 sq km was the area of Sudan before the independence of the Republic of South Sudan with an area of 619,745 km2, 25% of the total area of the former Sudan).
Visas are required by visitors except those in transit and Egyptian and Tanzanian residents. Travellers are required to register with police headquarters within three days of arrival in the country.
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Economy of Somalia The economy of Somalia like those of the neighbouring countries of Ethiopia and Kenya is a dual economy in which traditional production and the way of life are practised along modern production, with gradual graduation from traditional economic way of life to modern economy. Somalia's economy, one of the poorest in the world, is an agricultural one based primarily on livestock and, to a lesser extent, on farming. Livestock accounts for about 40% of GDP and more than 50% of export earnings, mainly from Saudi Arabia; bananas are the main cash crop and account for nearly 50% of export earnings. Other crops produced for domestic consumption are cotton, maize, and sorghum. There are plans to develop the fishing industry. Northern Somalia is the world's largest source of incense and myrrh. There has been little exploitation of mineral resources, which include petroleum, uranium, and natural gas. Despite the lack of effective national governance, Somalia has maintained a healthy informal economy, largely based on livestock, remittance/money transfer companies, and telecommunications. Most of the industrial production based around food processing collapsed as factories were looted during fighting, but there is a service sector (around 25% of GDP) based around the intermediation of remittances from and telecommunications with the Somali diaspora which is the main contributor to Somali economic development and reconstruction, providing resources for family support, humanitarian and development assistance and investment. Nomads and semi-pastoralists, who are dependent upon livestock for their livelihood, make up a large portion of the population. Livestock, hides, fish, charcoal, and bananas are Somalia's principal exports, while sugar, sorghum, corn, qat, and machined goods are the principal imports. Somalia's service sector also has grown. Telecommunication firms provide wireless services in most major cities and offer the lowest international call rates on the continent. In the absence of a formal banking sector, money transfer/remittance services have sprouted throughout the country, handling up to $1.6 billion in remittances annually. Hotels continue to operate and are supported with private-security militias. Despite 17 years of crisis in Somalia, the economy there is stronger than that of many countries in Africa in terms of gross domestic product and imports and exports. Essential Information Area: 738,000 sq km |
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Ecoonomy of Saudi Arabia Saudi Arabia has an oil-based economy with strong government controls over major economic activities. It possesses about 20% of the world's proven petroleum reserves, ranks as the largest exporter of petroleum, and plays a leading role in OPEC. The petroleum sector accounts for roughly 80% of budget revenues, 45% of GDP, and 90% of export earnings. Saudi Arabia is encouraging the growth of the private sector in order to diversify its economy and to employ more Saudi nationals. Diversification efforts are focusing on power generation, telecommunications, natural gas exploration, and petrochemical sectors. Almost 6 million foreign workers play an important role in the Saudi economy, particularly in the oil and service sectors, while Riyadh is struggling to reduce unemployment among its own nationals. Saudi officials are particularly focused on employing its large youth population. Riyadh has substantially boosted spending on job training and education, most recently with the opening of the King Abdallah University of Science and Technology - Saudi Arabia's first co-educational university. Due to a sharp rise in petroleum revenues in 1974 following the 1973 Arab-Israeli war, Saudi Arabia became one of the fastest-growing economies in the world. Mainly in the last ten years, with an average real GDP growth of nearly 3.5%, nominal GDP has witnessed a sharp increase from about $189 billion in 2000 to more than $434 billion in 2010. The nonoil sector is expected to primarily drive the Kingdom's real GDP growth, as the government continues to take initiatives to diversify away from oil and address social and development needs. The nonoil private sector's growth is estimated to stay above the real GDP forecast, with growth averaging above 5.5 percent. Population growth in Saudi Arabia is estimated to decelerate significantly in the coming decades following rapid growth in the last decade (2000-2010). Population growth is estimated to slow down to a CAGR of 2.0 percent between 2010 and 2020 and a CAGR of 1.4 percent during 2020-2030 vis-a-vis a CAGR of 3.2 percent in the previous decade (2000-2010). Saudi Arabia aims to create 3 million jobs for nationals by 2015 and 6 million jobs by 2030, partly through the Saudization initiative. In the past decade (2001-2010), Saudi Arabia saw average annual growth of 3.3 percent, reaching 3.8 percent in 2010, and 6.8 percent in 2011. The International Monetary Fund (IMF) has predicted that Saudi Arabia’s real GDP growth will average of 4.4 percent through 2016. According to the IMF data of 2015 the growth in the non-oil GDP was estimated at 5.5%. One of the main contributors of the Kingdom’s non-oil GDP is the construction industry.
Essential Information Area: 2,240,000 sq km Visa Requirements: Visas are obtainable from Saudi-Arabian consulates abroad. Arriving visitors are strongly advised not to attempt to carry any alcohol into the country, where it is strictly forbidden. Discovery of alcohol can lead to immediate expulsion from the entry point.
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Economy of Qatar Qatar’s economy has emerged as one of the fastest growing in the world over the past few years. The strength of the economy is derived in large part from its massive oil and gas reserves, but like most other Gulf states, economic diversification remains a top priority and the non-oil sector has been returning promising growth figures. Even without government support, certain sectors, such as real estate, look set to enjoy sustained growth thanks to demand from a young and rapidly growing population. Tourism is another area of high potential as officials carve out Qatar’s identity as a centre of business and cultural tourism. While the government is still the leading force in overall economic development, it is encouraging the private sector to take a stronger role while bringing increased focus to small and medium-sized enterprises. The vast gas wealth was only discovered in 1971 - with estimated reserves of more than 900 trillion standard cubic feet - or about 10 per cent of the world's known reserves. The problem was Qatar was not close enough to potential customers for it to be of any commercial benefit. It was only in the mid 1990s that Qatar started to borrow heavily on international markets to invest in a series of industrial facilities to chill the gas to liquid form so it could be transported by ship around the world. It was a huge risk but one that set the tiny country on the road to becoming the world's largest exporter of liquefied natural gas. As gas production increased every year so, too, did the country's economic output. Nominal GDP has grown tenfold in a decade to $186bn. In the five years to 2016, Qatar plans to spend $125bn on infrastructure projects alone. During the last 5 years, the Qatari real economy has grown by an average of 15.5 percent per year as the country's gas and LNG output expanded. The development of the country's manufacturing sector, which includes downstream processes such as gas-to-liquids (GTLs), petrochemicals and fertilizer production, has been proceeding apace and is a major focus of Qatar's diversification strategy. The IMF has projected that growth in Qatar’s non-hydrocarbon sector will range between 9% and 10% in the medium term, while the hydrocarbon sector is projected to grow between 1.1% and 3.5%.
Essential Information Area: 11,427 sq km Education: Of total population 96% age 15 and over can read and write. (2010)
Visa Requirements: Visas for visits of up to 30 days are not required by nationals of some Arab countries and those born and resident in the UK. Other passport holders, if staying for more than 72 hours, must obtain visas from Qatar representatives before arrival. In some cases a 'No Objection Certificate' (NOC) applies instead of a visa; one should check before departure.
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Economy of Palestine The Palestinian economy is small and relatively open, although several large holding companies dominate some sectors. Because of the small size of the local market, access to foreign markets through trade is essential for private sector growth. Restrictions on the movement and access of goods and people between the West Bank, the Gaza Strip, and external markets imposed by the Government of Israel continue to have a deleterious effect on the private sector and limit economic growth. During the second Intifada the Palestinian economy experienced the deepest recessions in modern history. In those two years, Palestinian real GDP per capita shrunk by almost 40 percent. The precipitator of this economic crisis was again a multi-faceted system of restrictions on the movement of goods and people. Nevertheless, the Palestinian economy continued to exhibit some degree continuity and resilience. The proliferation of small business projects and informal economic activities have contributed to it weathering and adapting to the difficult conditions. The services sector constituted the largest one in the West Bank economy in Q3/2014, accounting for 19.3% of GDP. This sector was followed by wholesale and retail trade (17.6%) and mining, manufacturing, electricity and water (16.4%). The services sector constituted the largest one in the West Bank economy in Q3/2014, accounting for 19.3% of GDP. This sector was followed by wholesale and retail trade (17.6%) and mining, manufacturing, electricity and water (16.4%). - See more at: http://unispal.un.org/UNISPAL.NSF/0/1695268E83B78ACA85257E20004E79EF#sthash.WD82sd9V.dpuf
In the Gaza Strip the largest sector of the economy in 2013 was construction, followed by services and public administration. Together, these three sectors account for more than 70% of total GDP. Productive sectors such as agriculture and manufacturing contribute relatively little to total GDP in the Gaza Strip. The West Bank and Gaza have both experienced economic progress since the Oslo Accords but structural differences between the two areas remain. Between 1995 and 2000, the Palestinian economy was growing at an average rate of 6% per year. If that trend had continued after 2000, when restrictions intensified, real GDP may have been more than double its current value to reach over $8 billion. Following a long-term trend, Gazan nominal GDP per capita in 2012, at $1,565, remains around half that of the West Bank ($3,196). While there are a number of common factors constraining development in both areas (e.g. limited access to water and energy, restrictions on movement and access, and poor infrastructure), such factors are significantly amplified in Gaza. Partly due to these restrictions, the slowdown in economic activity observed in 2012 was stronger in Gaza, where GDP growth fell from 21% in 2011 to less than 7% in 2012. Although Palestine has very limited natural resources, it still has a highly renewable human capital resource. 57% of the population under the age of twenty and the rate of 65% under the age of twenty-fifth means an increase in the labour force, including a total of 500,000 workers in the next five years. This is in addition to the potential inherent in the working women's race, which is considered a strategic reserve for the labour force. This tendency has its impact on the availability of young labour force and an incentive for more investments in the economy. Palestinian diaspora The estimated one million Palestinians who have emigrated since 1948 (as well as their children) serve as a vital lifeline for Palestinians who remain in the West Bank and Gaza Strip. As a percentage of its GDP, the Palestinian territories are one of the most dependent economies in the world on remittances. The latest data from IMF in 2010 shows US$ 431m being transferred by workers employed abroad.
Essential Information Area: 6,257 sq km (West Bank 5,879 sq km; Gaza 378 sq km).
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Economy of Oman Oman is a middle-income economy that is heavily dependent on dwindling oil resources. Because of declining reserves, Muscat has actively pursued a development plan that focuses on diversification, industrialization, and privatization, with the objective of reducing the oil sector's contribution to GDP to 9% by 2020. Tourism and gas-based industries are key components of the government's diversification strategy. By using enhanced oil recovery techniques, Oman succeeded in increasing oil production, giving the country more time to diversify, and the increase in global oil prices throughout 2010 and 2011 provides the government greater financial resources to invest in non-oil sectors. In the same time, Oman lies on a strategic Strait of Hormuz, where 40 percent of the world's oil shipments pass. Since 1970 the average per capita income has increased more than 5,000 per cent from $343 to reach $18,000 in 2009 and literacy rates have soared. But the question now is whether Oman can keep the momentum going. The achievements of the past 40 years have been made possible by vast revenues from oil production. However, increases in social welfare benefits, particularly since the Arab Spring, will challenge the government's ability to effectively balance its budget if oil revenues decline. By using enhanced oil recovery techniques, Oman succeeded in increasing oil production, giving the country more time to diversify. Oman has successfully executed its diversification strategy as non-oil GDP to grow 5.4 per cent in 2011 from 3.1 per cent in 2009. The non-oil sector's contribution to GDP rose considerably from 52.7 per cent in 2001 to 72.2 per cent in 2011. Factors such as high domestic demand, an expansionary fiscal policy and growth in the non-oil economy would bolster economic growth to average 5.1 per cent over 2013–17. Oman Vision 2020 Created in Muscat, the Vision 2020 of Oman was adopted in June 1995. Vision 2020 focuses on all of the aspects of the Oman economy ranging from human resources to economic diversification. As per the Vision 2020, Oman is expected to be a non-oil dependent country as it increases the measures of diversification into the services, industrial and financial sectors. Due to the fact that Oman is highly dependent on hydrocarbon for its revenues and growth. Oil’s share of total GDP is expected to drop to 9% in 2020 as compared to 41% in 2009. Oman focus on industrial sector is evident in the Vision 2020 as it plans to increase its share in GDP to 29% in 2020 as compared to 18.5% in 2009. Natural Gas is expected to see further development in production and exploration as Oman expects its contribution to GDP to reach 10% which is higher than the oil contribution. Oman is expected to carry out a third liquefied natural gas (LNG) train raising its capacity to 10mtpa of LNG. LNG is expected to become the largest non oil earner in the Omani economy and is expected to generate USD24bn over the next 25 years. Non-oil contribution to GDP is expected to reach 81% in 2020 as compared to 61.3% enjoyed in 2009. Agriculture & fishing on the other hand is estimated to contribute more than 5% in 2020 through tax incentives to corporation on income for 5 years. Paired with this is the carefully structured tourism strategy, aimed at high net worth individuals. One of the main goals of the Tourism Ministry is to represent Oman as a year-round destination.
Essential Information Area: 312,500 sq km Education
Non-sponsored business or tourist visitors can obtain two-week visas from consulates and embassies abroad. Some five days are required to process an application.
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Economy of Morocco Morocco's market economy benefits from the country's relatively low labour costs and proximity to Europe, which aid key areas of the economy such as agriculture, light manufacturing, tourism, and remittances. Morocco is also the world's largest exporter of phosphate, which has long provided a source of export earnings and economic stability. Economic policies pursued since 2003 have brought macroeconomic stability to the country with generally low inflation, improved financial performance, and steady progress in developing the service and industrial sectors. However, poverty, illiteracy, and unemployment rates remain high. France has played a major part in Morocco’s economy since it was the country's first foreign investor, creditor and most importantly the first trade partner. Many agreements have since taken place with other countries, the latest two being the ‘US-Morocco Free Trade Agreement’ with the USA, which came into being on 1 January 2006, and the ‘free exchange’ with Turkey. Over the last 50 years Morocco has continued to grow, with its GDP per capita rising to 47% in the 60s and, just ten years later, peaking to a massive 274%. Unfortunately a massive change in trend caused it to recess to just 8.9% by the nineties. In recent years, Morocco's economy has been expanding thanks to free trade deals with international partners, but unemployment remains an issue - especially for graduates. Although Morocco’s economic performance over the past decade has been sound overall, the crisis in Europe, high world commodity prices, and a poor harvest slowed growth in 2012 and put pressures on the fiscal and external accounts. According to Moroccan Economy and Finance Minister, Morocco is feeling the effects of the world economic crisis after years of trying to keep out of it. The new problems include a decrease in liquidity, deteriorating trade figures, and a decline in remittances from Moroccans working abroad. Nevertheless, thanks to recent economic reforms, Morocco has improved its overall competitiveness, according to a new report from the World Economic Forum. The Geneva-based organization ranked Morocco 70th in a list of 140 countries, an improvement from 75th place in 2010. The report indicates that Morocco improved its standing by improving its business climate, standard of living, sustainable economic growth, and foreign investment. In addition to being ranked 70th globally, it was ranked 9th in the MENA region and 2nd in the Southern Mediterranean. Morocco performed especially well in the area of tourism, ranking 26th globally due to its impressive investment plans to expand the sector. If it plans correctly, the Forum believes Morocco could achieve its goal of becoming a top 20 tourist destination. Morocco continues to face external risks linked to uncertainties in the euro zone and volatility of oil prices.
Essential Information Area: 710,850 sq km, this including the Western Sahara.
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Economy of Mauritania The Mauritania economy is agricultural economy. Half the population still depends on agriculture and livestock for a livelihood, even though many of the nomads and subsistence farmers were forced into the cities by recurrent droughts in the 1970s and 1980s. The nation's coastal waters are among the richest fishing areas in the world, but overexploitation by foreigners threatens this key source of revenue. Mauritania has extensive deposits of iron ore. Mauritania’s mining industry represented 27 percent of the gross domestic product (2010). This portion was estimated to reach 28 percent of GDP in 2011 and expected to fall back to 25 percent in 2012. Mining industry accounts for 75% of Mauritania’s total export, but less than 3 percent of employment (2010). Almost one out of two Mauritanians lives below the poverty line, and a large segment of the population remains subject to food insecurity. GDP in the last ten years has increased remarkably in absolute values, however, real GDP growth is characterised by high volatility, with a stable trend line for nominal GDP. The structure of the Mauritanian economy, which is characterised by the predominance of the secondary and tertiary sectors (34.7% and 44.8% of GDP respectively), remained largely unchanged between 2009 and 2010. The secondary sector remained dominated by the extractive industries (24.8% of GDP in 2009) the largest part of which was attributable to metals mining (20% of GDP). Production of oil products declined, which resulted in a contribution of only 4.8% to GDP. Manufacturing and construction are limited and account for just 4.1% and 5.7% of GDP. Trade (11.2% of GDP), goods and services (12.7%) and public administration (16.1%) make up the principal activities of the tertiary sector, while livestock (10.7%) and fishing (5.3%) account for the majority of the primary. This GDP structure should remain stable for the coming years. The secondary sector should also benefit with the start of activities of certain mining investments. Essential Information Area: 1,030,700 sq km
Visas are required for all visitors which may be obtained from Mauritanian diplomatic and consular missions. Smallpox and yellow fever immunization is necessary. |
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The Libyan economy is fully dependent on the hydrocarbon sector – specifically oil. Substantial revenues from the energy sector coupled with a small population give Libya one of the highest per capita GDPs in Africa, but under the former regime little of this income flows down to the lower orders of society. The process of lifting US unilateral sanctions began in the spring of 2004; all sanctions were removed by June 2006, helping Libya attract greater foreign direct investment, especially in the energy sector. During 2004–10, average growth was approximately 5 per cent, and foreign assets increased from $20 billion at end-2003 to $170 billion by end-2010. The non-hydrocarbon sectors grew rapidly––albeit from a low base––on the back of an ambitious public investment program, but the country remained dependent on hydrocarbons, which accounted for over 70 per cent of GDP, more than 95 per cent of exports, and approximately 90 per cent of government revenue. Development of the nascent private sector was constrained by the dominance of the state and by institutional weaknesses. As of end-2010, unemployment was estimated officially at 13.5 per cent with youth unemployment at 25–30 per cent. During the revolution, the prolonged fighting had a far-reaching impact on standards of living, provision of basic services, and employment: economic activity contracted sharply in 2011 and consumer prices increased, primarily due to international sanctions and supply constraints. The restoration of hydrocarbon output underpinned the recovery of economic activity in 2012, with a resulting doubling of real GDP. Consumer price inflation has been falling, with a year-on-year rate of -3.7 per cent in December 2012. The overall budget balance moved to a surplus of 20.8 per cent in 2012, from a deficit of 18.7 per cent of GDP in 2011. Similarly, the current account surplus widened to 36 per cent, from 9 per cent of GDP in 2011. Finally, broad money grew by 11.5 per cent with a modest shift from currency into deposits, and credit to the private sector increased by some 24 per cent. Libya faces a long road ahead in liberalizing its primarily socialist economy, but the revolution has unleashed previously restrained entrepreneurial activity and increased the potential for the evolution of a more market-based economy. Climatic conditions and poor soils severely limit agricultural output, and Libya imports about 80% of its food. Libya's primary agricultural water source is the Great Manmade River Project. But despite these challenges there are many reasons for optimism including Libya’s strategic position, its population with 50 per cent between the age of 18 and 45 years old and oil reserves of 60 billion barrels. Economic Diversification Actually Libyan oil sector constitutes about 50% of GDP, and 80% of government revenue. Diversification is an important issue because at current rates of production, Libyan oil reserves are not expected to last beyond the second decade of this century. Thus, the long-term health of the Libyan economy hinges on developing a self-sustaining non-petroleum sector. Otherwise, once oil reserves are depleted, Libya will become as poor as it was before its current oil boom. The non-oil sector plays a role in the national growth. The attempts to boost the non-oil sector have given some results. For most of the last five years, new IMF figures show, the non-oil sector has been growing much faster - with growth rates from 6 to 10 percent - than the hydrocarbon sector. The non-oil developments are dominated by foreign workers. However, two factors are of paramount importance. First Libya's GDP exhibits a very high level of volatility, with growth rates ranging from -36% to 60% in the last 20 years. Second, the performance of the country's GDP clearly trails that of world oil prices, which leaves the country open to a great deal of external risk and uncertainty. From a policy perspective, post-oil diversification should be made a national priority and should be coupled with a government strategy geared towards job creation for the youth. To this end, the transitional authorities face several complex issues.
Essential Information Area: 1,775,000sq km Education:
Passports must be accompanied by an official Arabic translation of the essential details. Most passport issuing authorities provide this on request, in the form of a visa-like stamp. Visas are required by holders of most non-Arab passports.
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