The Economy of the Middle East is very diverse. Composed of Bahrain, Cyprus, Gaza Strip,Egypt, Iran, Iraq, Iraqi Kurdistan, Israel, Jordan, Kuwait, Lebanon, Northern Cyprus, Oman, State of Palestine, Qatar, Saudi Arabia, Syria, Turkey, United Arab Emirates, and Yemen the individual economies range from hydrocarbon exporting rentier economies to government led socialist economies to free market economies.
Collectively, the region is best known for producing and exporting oil. The oil industry does significantly impact the entire region, both through the wealth that it generates and through the movement of labor. Most of the countries in the region have undertaken efforts to diversify their economies in recent years, however. In the report, Science-Metrix says the number of scientific publications listed in the Web of Science database shows that the standard growth in the Middle East, particularly in Iran and Turkey, is nearly four times faster than the world average.
Read more about Economy Of The Middle East: Statistics
Famous quotes containing the words economy of, economy, middle and/or east:
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“You can always tell a Midwestern couple in Europe because they will be standing in the middle of a busy intersection looking at a wind-blown map and arguing over which way is west. European cities, with their wandering streets and undisciplined alleys, drive Midwesterners practically insane.”
—Bill Bryson (b. 1951)
“My angel,—his name is Freedom,—
Choose him to be your king;
He shall cut pathways east and west,
And fend you with his wing.”
—Ralph Waldo Emerson (1803–1882)