MENA countries continue to face numerous long-term socio-economic and institutional challenges including high unemployment (especially youth unemployment) , low female labour-market participation rates, the poor quality of education, costly and ineffective public sectors, high military and security spending, high energy ...
What is the economic development in the Middle East?
Plagued by war, violence, and low oil prices, economies in the Middle East and North Africa (MENA) region will see growth of 2.6% in 2017, down from 3.5% in 2016. But after 2017, driven by ongoing reforms, the situation is expected to improve slightly and growth could exceed 3% in 2018 and 2019.
What other obstacles do nations in the Middle East and Northern Africa face?
The Middle East and North Africa (MENA) is a drastically diverse region in terms of socio-economic and political conditions and confronts the triple threat of climate change, rising food and water scarcity, and economic crisis .
What is the major economic industry in North Africa and the Middle East?
Growth and Stability in the Middle East and North Africa — Economic Overview. The MENA region commands abundant human and natural resources, accounts for a large share of world petroleum production and exports , and enjoys on average a reasonable standard of living.
What are the challenges that face the population of the MENA region?
To maintain and improve inter-generational support within family and society in the MENA countries with large populations (such as Iran and Egypt) the most important challenges are poverty and vulnerability, unemployment, and development of long-term plans for an ageing population .
Which country in the Middle East has the smallest population?
- Bahrain: 1,346,613.
- Qatar: 2,194,817.
- Kuwait: 2,788,534.
- Oman: 3,286,936.
- Lebanon: 6,184,701.
What is the most developed country in the world?
The United States was the richest developed country on Earth in 2019, with a total GDP of $21,433.23 billion. China was the richest developing country on Earth in 2019, with a total GDP of $14,279.94 billion.
How does the Middle East impact the world economy?
Since the 1930s the Middle East has emerged as the world’s most important source of energy and the key to the stability of the global economy . This tumultuous region produces today 37% of the world’s oil and 18% of its gas. ... It is home to 65% of proven global oil reserves and 45% of natural gas reserves.
What type of economy does the Middle East have?
| Country | United Arab Emirates (UAE) | GDP Per Capita | $67,900 | GDP (PPP) Total ($US B) | $200.4 | GDP (Millions of US$) 201 | 414,200 |
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Which is richest country in Middle East?
Qatar , Middle East – Qatar is currently the wealthiest country in the Arab World (based on GDP per capita).
What is the most developed country in the Middle East?
| Rank Country GDP Per Capita | 1 Qatar $129,700.00 | 2 Kuwait $71,300.00 | 3 United Arab Emirates $67,700.00 | 4 Saudi Arabia $54,100.00 |
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What is the main economy in North Africa?
Today the country is the world’s third biggest producer of phosphate. Coal, mineral oil and natural gas, but also lead, copper and iron ore belong to the many natural resources of Morocco . Further significant branches of industry are metal processing, chemicals, foodstuffs, textiles, leather and consumer goods.
Which country has the most diversified economy in the Middle East?
Of those five other countries – Bahrain, Kuwait, Oman, Qatar, and the United Arab Emirates (UAE) – it is the UAE that has the most diverse economy, despite a massive reliance on petroleum and natural gas exports.
What are the challenges of the youth?
- Lack of employment opportunities.
- Failure to succeed in education system.
- Issues related to body image.
- Family problems.
- Substance abuse.
- Pressures of materialism.
- Lack of affordable housing.
- Negative stereotyping.
Is the Middle East developed or developing?
The quality of the infrastructure in the MENA region varies enormously across countries and sectors. It is good or well developed in the GCC countries, Lebanon, Jordan, Tunisia, and Morocco, but somewhat less developed in others.
In what ways has increased population growth affected the region?
The region’s cities attract a high number of immigrants, increasing diversity as well as the ethnic conflict in the region. Population growth is putting a tremendous strain on the environment. Because of population growth, there are water shortages, unemployment, lack of housing , and inadequate services.
