A resource-based or natural-resource-based economy is that of a country whose
gross national product
The gross national income (GNI), previously known as gross national product (GNP), is the total domestic and foreign output claimed by residents of a country, consisting of gross domestic product (GDP), plus factor incomes earned by foreign ...
or
gross domestic product to a large extent comes from
natural resources.
Examples
The economies of
Gulf Cooperation Council
The Cooperation Council for the Arab States of the Gulf ( ar, مجلس التعاون لدول العربية الخليج ), also known as the Gulf Cooperation Council (GCC; ar, مجلس التعاون الخليجي), is a regional, interg ...
(GCC) countries like
Saudi Arabia
Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in Western Asia. It covers the bulk of the Arabian Peninsula, and has a land area of about , making it the List of Asian countries by area, fifth-largest country in Asia ...
,
Kuwait
Kuwait (; ar, الكويت ', or ), officially the State of Kuwait ( ar, دولة الكويت '), is a country in Western Asia. It is situated in the northern edge of Eastern Arabia at the tip of the Persian Gulf, bordering Iraq to the nort ...
and
Qatar
Qatar (, ; ar, قطر, Qaṭar ; local vernacular pronunciation: ), officially the State of Qatar,) is a country in Western Asia. It occupies the Qatar Peninsula on the northeastern coast of the Arabian Peninsula in the Middle East; it s ...
are highly dependent on exporting oil and gas.
Suriname
Suriname (; srn, Sranankondre or ), officially the Republic of Suriname ( nl, Republiek Suriname , srn, Ripolik fu Sranan), is a country on the northeastern Atlantic coast of South America. It is bordered by the Atlantic Ocean to the nort ...
's exports of
bauxite
Bauxite is a sedimentary rock with a relatively high aluminium content. It is the world's main source of aluminium and gallium. Bauxite consists mostly of the aluminium minerals gibbsite (Al(OH)3), boehmite (γ-AlO(OH)) and diaspore (α-AlO(OH ...
account for more than 15% of GDP and 70% of export earnings.
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, officially the Kingdom of Norway, is a Nordic country in Northern Europe, the mainland territory of which comprises the western and northernmost portion of the Scandinavian Peninsula. The remote Arctic island of Jan Mayen and th ...
's export of oil and gas forms 45% of total exports and more than 20% of the GDP.
[ p.60]
See also
*
Natural resource economics
Natural resource economics deals with the supply, demand, and allocation of the Earth's natural resources. One main objective of natural resource economics is to better understand the role of natural resources in the economy in order to devel ...
References
Bibliography
* Barry C.Field (2000), Natural Resource Economics, McGraw-Hill. .
*
Thomas H. Tietenberg (1988), Environmental and Natural Resource Economics, Scott-Foresman. .
* Philip A. Neher (1990), Natural Resource Economics: Conservation and Exploitation, Cambridge University Press. .
* Steven C. Hackett (2001), Environmental and Natural Resources Economics: Theory, Policy, and the Sustainable Society, M.E. Sharpe. .
* Erhun Kula (1992), Economics of Natural Resources and the Environment, Springer. .
* Juan C. Suris Regueiro, Manuel M. Varela Lafuente (1995), Introducción a la economía de los recursos naturales, Civitas. .
* Pere Riera (2005), Manual de economía ambiental y de los recursos naturales, Thomson. .
* Carlos Romero (1994), Economía de los recursos ambientales y naturales,
Alianza Editorial. .
* Alan Randall, Ricardo Calvet Perez (1985), Economía de los recursos naturales y política ambiental, Limusa. .
* Roxana Barrantes (1997), Hacia un nuevo dorado: Economía de los recursos naturales, Consorcio de Investigación Económica. {{ISBN, 9972-670-00-7.
External links
"How to Sustain Growth in a Resource Based Economy? The Main Concepts and their Application to the Russian Case"(United Nations Economic Commission for Europe)
Resource economics