Girish Mahajan (Editor)

Resource based economy

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A resource-based economy or natural-resource-based economy is the economy of a country whose gross national product or gross domestic product to a large extent comes from natural resources.

Contents

Suriname

Suriname's exports of bauxite account for more than 15% of GDP and 70% of export earnings.

Russia

Of Russian exports, more than 80% are oil, natural gas, metals and timber. Since Russia has a resource based economy, it depends most of all on the fluctuations of oil and gas demand and prices.

Norway

Norway's export of oil and gas forms 45% of total exports and more than 20% of the GDP.

Australia

Australia developed aspects of a resource-based economy in the later twentieth century, while retaining a foundation in agricultural exports, and latterly minerals.

References

Resource-based economy Wikipedia