How much does oil contribute to the economies of the major oil producing and exporting countries?

 

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How much does oil contribute to the economies of the major oil producing and exporting countries?

 

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The main question for this topic @ Billion Dollar Questions: How Long will Oil Last?

 

See a list of all the topics under the question here.

 

 Some facts:

 

The Saudi Arabian economy is heavily dependent on oil production, which provided over 90% of export value and 75% of government revenues in 2001.

 

Sales of oil accounted for more than 90 per cent of the Nigeria's total foreign-exchange earnings (1999)

 

For Iran, there has been a decreasing dependency on oil income; and due to unstable global prices for oil, the contribution of oil in GDP has decreased from 39.4% in 1979 to 18.1% in 1996

 

On the eve of the Iran-Iraq War, the petroleum sector dominated the economy, accounting for two-thirds of GDP. The outbreak of war curtailed oil production, and by 1983 petroleum contributed only one-third of GDP. But in Iraq’s case, the non-oil contribution also shrank, resulting in an absolute decrease of the country’s GDP during this period (1981-83).

 

 

 

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Related Topics & Questions

 

When was the modern oil industry born?

 

How much oil does the world consume per day?

 

How much oil does the United States consumer per day?

 

What percent of oil can be recovered from a newly discovered oil hole?

 

By what % is the demand for oil increasing annually?

 

How much investments would be required increase oil production to meet future demand?

 

What is OPEC's influence on oil prices?

 

How was oil formed?

 

What is Peak Oil and when will oil peak?

 

Which are the largest oil fields in the world? And how much oil reserves do they have?

 

Which are the largest oil producing countries?

 

How is oil prospecting done? Oil prospecting techniques?

 

Why is oil present in some regions of the world and not in other regions?

 

How is oil extracted from the earth?

 

How much does oil contribute to the economies of the major oil producing and exporting countries?

 

How has the price of oil changed over the years?

 

Who is King Hubbert and why does everyone talk about him when peak oil is mentioned?

 

Which are the major oil companies in the world?

 

How is oil produced from coal? What kind of oil is it?

 

What are tar sands?

 

What is heavy oil?

 

What is oil shale?

 

How does one determine how much oil reserves a country has?

 

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