Oil, gas, coal, and other types of minerals remain the main source of income for many countries. This was reported by Zamin.uz.
However, such economies are very sensitive to changes in raw material prices on the global market. This means that state budget revenues, jobs, and currency inflows largely depend on these factors.
According to recent data, Libya is recorded as the country most reliant on natural resources. In this country, 61 percent of the gross domestic product is formed precisely from resources.
Also, in countries like Iraq, the Democratic Republic of Congo, and Congo, more than 33 percent of GDP corresponds to the share of natural resources. A large part of natural resources is located in the Middle East and Africa regions.
Countries famous for oil and gas reserves include Iran, Angola, Oman, Qatar, and Saudi Arabia. Additionally, countries such as Zambia, Mongolia, Equatorial Guinea, and Chad stand out with their mineral reserves and oil exports.
For comparison, the largest share in Uzbekistan's economy belongs to the services sector. Trade, transport, communications, tourism, and other areas make up approximately 45–50 percent of the country's GDP.
This indicates that Uzbekistan's economy is considerably diversified.
