Encyclopedia

Economy of Bangalore Bangalore evolved into a manufacturing hub for heavy industries such as Hindustan Aeronautics Limited, Indian Telephone Industries (ITI), Hindustan Machine Tools and Bharat Electronics Limited (BEL) after India gained independence from Great Britain in 1947. Within the last decade, the establishment and success of high technology firms in Bangalore has led to the growth of Information Technology (IT) in India.
Economy of Belgium Belgium, a highly developed market economy, belongs to the Organisation for Economic Co-operation and Development (OECD), a group of leading industrialized democracies. In recent years, with a geographic area of 30,528 km² (ranked 148th in the world), and a population of just over 10 million, Belgium's GDP level has placed it in the top 20 for all countries of the world.
Economy of Benin The economy of Benin remains underdeveloped and dependent on subsistence agriculture, cotton Cotton accounts for 40% of GDP and roughly 80% of official export receipts. There is also production of textiles, palm products, and cocoa.
Economy of Bermuda Bermuda enjoys one of the highest per capita incomes in the world, having successfully exploited its location by providing financial services for international firms and luxury tourist facilities for 360,000 visitors annually. The tourist industry, which accounts for an estimated 28% of GDP, attracts 84% of its business from North America.
Economy of Bhutan The economy of Bhutan, one of the world's smallest and least developed, is based on agriculture and forestry, which provide the main livelihood for 90% of the population and account for about 40% of GDP. Agriculture consists largely of subsistence farming and animal husbandry.
Economy of Birmingham The city of Birmingham, in England, is an important manufacturing and engineering centre, employing over 100,000 people in the industry and contributing billions to the national economy. During 2005, the West Midlands region as a whole created UK exports worth ÂŁ15.
Economy of Bosnia and Herzegovina This page discusses the Economy of Bosnia and Herzegovina since Bosnia and Herzegovina's declaration of sovereignty in October 1991 and the declaration of independence from the former Yugoslavia on 3 March 1992.
Economy of Botswana Since independence, Botswana has had the highest average economic growth rate in the world, averaging about 9% per year from 1966 to 1999. The relatively high quality of Botswana's statistics means that this figure is likely to be quite accurate.
Economy of Brunei The Asian financial crisis in 1997 and 1998, coupled with fluctuations in the price of oil have created uncertainty and instability in Brunei's economy. In addition, the 1998 collapse of the AMEDEO Corporation, Brunei's largest construction firm whose projects helped fuel the domestic economy, caused the country to slip into a mild recession.
Economy of Bulgaria The economy of Bulgaria declined dramatically during the 1990s with the collapse of the COMECON system and the loss of the Soviet market, to which the Bulgarian economy had been closely tied. The standard of living fell by about 40%, and only regained pre-1989 levels by June of 2004.
Economy of Burkina Faso Burkina Faso is one of the poorest countries in the world with an average income per capita of €250 (US$300). More than 80% of the population relies on subsistence agriculture, with only a small fraction directly involved in industry and services.
Economy of Cameroon For a quarter-century following independence, Cameroon was one of the most prosperous countries in Africa. The drop in commodity prices for its principal exports —petroleum, cocoa, coffee, and cotton — in the mid-1980s, combined with an overvalued currency and economic mismanagement, led to a decade-long recession.
Economy of Canada Canada is one of the world's wealthiest nations, a member of the Organization for Economic Co-operation and Development (OECD) and Group of Eight (G8). As with other first world nations, the Canadian economy is dominated by the service industry, which employs about three quarters of Canadians.
Economy of Communist Czechoslovakia In the mid-1980s, Czechoslovakia was one of Eastern Europe's most industrialized and prosperous countries. Although levels of consumption were well below those common in Western Europe, inhabitants of Czechoslovakia enjoyed a standard of living generally higher than that found in most other East European countries.
Economy of Comoros One of the world's poorest countries, Comoros is made up of three islands that have inadequate transportation links, a young and rapidly increasing population, and few natural resources. The low educational level of the labor force contributes to a subsistence level of economic activity, high unemployment, and a heavy dependence on foreign grants and technical assistance.
Economy of Cuba The Cuban government oversees the largely state-controlled planned economy, though there remains significant foreign investment and enterprise in Cuba. Most of the means of production are owned and run by the government and most of the labor force is employed by the state.
Economy of Djibouti The economy of Djibouti depends on a large foreign expatriate community, the maritime and commercial activities of the Port of Djibouti, its airport, and the operation of the Addis Ababa-Djibouti railroad. During the civil war (1991-94), there was a significant diversion of government budgetary resources from developmental and social services to military needs.
Economy of East Timor East Timor is one of the world's poorest nations in part due to decades of both neglect and misaligned economic priorities under Portuguese and then Indonesian administration, followed by the wide-spread destruction of infrastructure and property were destroyed in the post-independence violence in 1999.
Economy of Ecuador The economy of Ecuador is based on petroleum production, money transfers from nearly a million Ecuadorian emigrants employed abroad, and exports of bananas, shrimp, and other primary agricultural products. In 2002, oil accounted for about one-third of public sector revenue and 40% of export earnings.
Economy of Edinburgh Edinburgh, as the capital of Scotland, is usually regarded as one of the twin engines of the Scottish Economy alongside Glasgow. Edinburgh has been consistently one of the most prosperous parts of the country and has the strongest economy of any city in the UK outside LondonMajor Development Projects 2006 Edinburgh City Council Capital Review.
Economy of Egypt A series of International Monetary Fund arrangements, coupled with massive external debt relief resulting from Egypt's participation in the Gulf War coalition, helped Egypt improve its macroeconomic performance during the 1990s. Through sound fiscal and monetary policies, the Government of Egypt tamed inflation, slashed budget deficits, and built up foreign reserves.
Economy of Equatorial Guinea Equatorial Guinea is a small country at the west coast of Central Africa. Despite a per capita GDP (PPP) of more than US$30,000 World Economic Outlook IMF Database, September 2005 (CIA Factbook $50,200https://www.
Economy of Estonia Estonia, as a new member of the WTO, is steadily moving toward a modern market economy with increasing ties to the West, including the pegging of its currency to the euro. It acceded to the European Union in 2004.
Economy of Europe The economy of Europe is comprised of more than 710 million people in 48 different states. Like other continents, the wealth of Europe's states varies, although the poorest are well above the poorest states of other continents in terms of GDP and living standards.
Economy of force Economy of force is the principle of employing all available combat power in the most effective way possible, in an attempt to allocate a minimum of essential combat power to any secondary efforts. It is the judicious employment and distribution of forces towards the primary objective of your conflict.
Economy of Fiji Endowed with forest, mineral, and fish resources, Fiji is one of the most developed of the Pacific island economies, though it remains a developing country with a large subsistence agriculture sector. Agriculture accounts for 18 % of Gross Domestic Product, although it employs some 70 % of the workforce as of 2001.
Economy of Finland Finland has a highly industrialized, largely free-market economy, based on abundant forest resources, capital investments, and technology. In Finland, many areas of economy are strickly moderated by goverment officials.
Economy of Gabon Gabon enjoys a per capita income four times that of most nations of sub-Saharan Africa. This has supported a sharp decline in extreme poverty; yet because of high income inequality a large proportion of the population remains poor.
Economy of Germany Germany is one of the world's most highly developed market economies. It is the world's third largest economy in USD exchange-rate terms, the fifth largest by purchasing power parity (PPP) and the largest economy in Europe.
Economy of Greece Greece has managed to achieve a strong economy that is growing fast after the implementation of stabilization policies in recent years. Greece remains a net importer of industrial and capital goods, foodstuffs, and petroleum.
Economy of Grenada The economy of Grenada is based upon agricultural production (nutmeg, mace, cocoa, and bananas) and tourism. Agriculture accounts for over half of merchandise exports, and a large portion of the population is employed directly or indirectly in agriculture.
Economy of Guinea Guinea is richly endowed with minerals, possessing an estimated one-third of the world's proven reserves of bauxite, more than 1.8 billion metric tons of high-grade iron ore, significant diamond and gold deposits, and undetermined quantities of uranium.
Economy of Guyana With a per capita gross domestic product of only $824 in 1999, Guyana is one of the poorest countries in the Western Hemisphere. The economy made dramatic progress after President Hoyte's 1989 economic recovery program (ERP).
Economy of Hong Kong The economy of Hong Kong is widely believed to be the most economically free in the world. It has often been cited by economists such as Milton Friedman and the Cato Institute as an example of the benefits of laissez-faire capitalism.
Economy of Houston Houston's energy industry which is internationally known (particularly oil), but biomedical research and aerospace are also large parts of the city's economic base. The Houston metropolitan area comprises the largest petrochemical manufacturing area in the world, including for synthetic rubber, insecticides, and fertilizers.
Economy of Hungary The Hungarian economy prior to World War II was primarily oriented toward agriculture and small-scale manufacturing. Hungary's strategic position in Europe and its relative high lack of natural resources also have dictated a traditional reliance on foreign trade.
Economy of Chad Landlocked Chad's economic development suffers from its geographic remoteness, drought, lack of infrastructure, and political turmoil. About 85% of the population depends on agriculture, including the herding of livestock.
Economy of Chicago Chicago, Illinois was incorporated in 1833. Today, it is home to 12 Fortune 500 companies and is considered to be a "Prime Accountancy, Advertising and Legal Service Center" by the Globalization and World Cities Study Group & Network.
Economy of Chile Chile has a dynamic market-oriented economy characterized by a high level of foreign trade. During the early 1990s, Chile's reputation as a role model for economic reform was strengthened when the democratic government of Patricio Aylwin - which took over from the military in 1990 - deepened the economic reform initiated by the military government.
Economy of Chuvashia While Chuvashia is considered one of the less developed regions of Russia, the region has a positive investment climate due to a progressive government. The liberally minded government is working to encourage business development and attract foreign investment.
Economy of Indonesia Indonesia has a market-based economy in which the government plays a significant role. It owns more than 164 state-owned enterprises and administers prices on several basic goods, including fuel, rice, and electricity.
Economy of Israel Israel has a diversified modern economy with substantial government ownership and a rapidly developing high-tech sector. Poor in natural resources, Israel depends on imports of petroleum, coal, food, uncut diamonds, other production inputs, and military equipment.
Economy of Italy The Economy of Italy has changed dramatically since the end of World War II. From an agriculturally based economy, it has developed into an industrial country ranked as the world's fifth-largest economy in USD exchange-rate terms and seventh largest in terms of purchasing power parity (PPP).
Economy of Jamaica Jamaica has natural resources, primarily bauxite, and an ideal climate conducive to agriculture and tourism. The discovery of bauxite in the 1940s and the subsequent establishment of the bauxite-alumina industry shifted Jamaica's economy from sugar and bananas.
Economy of Japan Japan's industrialized, free-market economy is the world's fourth-largest by purchasing power parity (PPP) after United States, People's Republic of China, and India. It is the second-largest by market exchange rates.
Economy of Kansas City Kansas City, Missouri, USA, is, based on the United States Census Bureau's 2004 population estimates, the largest city in Missouri and the 40th largest city in the United States. Moreover, it is the anchor city of the Kansas City Metropolitan Area, the second largest metropolitan area in Missouri and 27th largest in the United States.
Economy of Karachi Karachi is the financial capital of Pakistan. It accounts for the lion's share of Pakistan's GDP and generates about 65% percent of the national revenue providing a Gross Metropolitan Product of $263 Billion and a GMP per capita of $21,917 rivaling Western European and American cities.
Economy of Kenya After independence, Kenya promoted rapid economic growth through public investment, encouragement of smallholder agricultural production, and incentives for private (often foreign) industrial investment. Gross domestic product (GDP) grew at an annual average of 6.
Economy of Kiribati The Republic of Kiribati's per capita Gross National Product of less than $1000 makes it one of the poorest countries in the world. Phosphates had been profitably exported from Banaba Island since the turn of the century, but the deposits were exhausted in 1979.
Economy of Kosovo The economy of Kosovo is one of the poorest in Europe, with Kosovo having a per capita income estimated at 1,565 Euro (2004).Despite substantial development subsidies from all Yugoslav republics, Kosovo was the poorest province of Yugoslavia.
Economy of Leeds Leeds has a diverse economy with the service sector now dominating over the city's manufacturing industries. It has in the past been served well by its canal, and today by its rail network at Leeds station, from where MetroTrains operate to all parts of West Yorkshire and other operators to the rest of the country.
Economy of Lesotho The Economy of Lesotho is based on agriculture, livestock, manufacturing, and the earnings of laborers employed in South Africa. Lesotho is geographically surrounded by South Africa and economically integrated with it as well.
Economy of Lethbridge Lethbridge is the commercial, distribution, financial and industrial centre of southern Alberta (although Medicine Hat plays a significant role in southeastern Alberta). It has a trading area population of 250,000 (including parts of British Columbia and Montana).
Economy of Lexington, Kentucky With Lexington, Kentucky far from any major navigable rivers, it did not develop the heavy industry that often developed in other cities along major waterways, such as Cincinnati or Pittsburgh Hollingsworth, Randolph. Lexington: Queen of the Bluegrass.
Economy of Libya Libya's socialist-oriented economy depends primarily upon revenues from the petroleum sector, which contributes practically all export earnings and about one-quarter of GDP. These oil revenues and a small population give Libya one of the highest per capita GDPs in Africa.
Economy of Lithuania Lithuania, the Baltic state that has conducted the most trade with Russia, faced its own economic and financial crisis in 1999 as a result of the government's wrongfooted economic policies and its inadequate response to the August 1998 Russian financial crisis. The policies that Prime Minister Kubilius implemented upon taking the helm in November 1999 underscore a commitment to fiscal restraint, economic stabilization, and accelerated reforms.
Economy of Louisville, Kentucky The early economy of Louisville, Kentucky first developed through the shipping and cargo industries. Its strategic location at the Falls of the Ohio, as well as its unique position in the central United States (within one day's road travel to 60% of the cities in the continental U.
Economy of Madagascar Agriculture, including fishing and forestry, is the mainstay of the economy, accounting for 34% of GDP and contributing more than 70% to export earnings. Industry features textile manufacturing and the processing of agricultural products.
Economy of Malta The strengths of the economy of Malta are its limestone, a favourable geographic location, and a productive labour force. Malta produces only about 20% of its food needs, has limited freshwater supplies, and has no domestic energy sources.
Economy of Mumbai Mumbai, formerly known as Bombay, is the commercial capital of India, contributing 10% of factory employment, 33% of income tax collections, 60% of customs duty collections, 20% of central excise tax collections, 40% of India's foreign trade and rupees 40,000 crore (US $9 billion) in corporate taxes. Headquarters of a number of Indian financial institutions such as the Bombay Stock Exchange, Reserve Bank of India, National Stock Exchange, the Mint, as well as numerous Indian companies such as the Tata Group Vedanta Resources and Reliance are located in Mumbai.
Economy of Nepal An isolated, agrarian society until the mid-20th century, Nepal entered the modern era in 1951 without schools, hospitals, roads, telecommunications, electric power, industry, or civil service. The country has, however, made progress toward sustainable economic growth since the 1950s and is committed to a program of economic liberalization.
Economy of New York City The economy of New York City is one of the largest regional economies in the United States. The city is a global center for business and commerce and one of the most important centers in world finance, along with London, Hong Kong, and Tokyo.
Economy of Nicaragua Nicaragua is one of the Western Hemisphere's poorest countries, with low per capita income, flagging socio-economic indicators, and huge external debt. The country has made significant progress toward macro-economic stabilization over the past few years - even with the damage caused by Hurricane Mitch in the fall of 1998.
Economy of Nigeria The petroleum-rich Nigerian economy, long hobbled by political instability, corruption, and poor macroeconomic management, is undergoing substantial economic reform under the new civilian administration. Nigeria's former military rulers failed to diversify the economy away from overdependence on the capital-intensive oil sector, which provides 20% of GDP, 95% of foreign exchange earnings, and about 65% of budgetary revenues.
Economy of Niue The economy of Niue is heavily dependent on aid from New Zealand. Government expenditures regularly exceed revenues, and the shortfall is made up by grants from New Zealand which are used to pay wages to public employees.
Economy of North America The economy of North America comprises more than 440 million people in 23 soverign states. It is marked by a sharp division between the northern English and French speaking countries of Canada and the United States, which are among the wealthiest and most developed nations in the world, and the countries of Central America and the Caribbean that are less developed.
Economy of North Korea The Economy of North Korea has been in a continued state of flux since the early 1990s, spurred by the disintegration of the Soviet Union. Other centrally planned economies in similar straits have opted for domestic economic reform and liberalization of trade and investment.
Economy of Northern Ireland The economy of Northern Ireland is the smallest of the four Home Nations' economies of the United Kingdom. Northern Ireland has traditionally had an industrial economy, most notably in shipbuilding, rope manufacture and textiles, but most heavy industry has since been replaced by services.
Economy of Norway Although sensitive to global business cycles, the economy of Norway has shown robust growth since the start of the industrial era. Shipping has long been a support of Norway's export sector, but much of Norway's economic growth has been fueled by an abundance of natural resources, including petroleum exploration and production, hydroelectric power, and fisheries.
Economy of Pakistan Pakistan is a developing country with the world's sixth-largest population, and an economic growth rate that has been consistently positive since a 1951 recession. At purchasing power parity, Pakistan GDP in 2006 was estimated at approximately $439.
Economy of Papua New Guinea Papua New Guinea is richly endowed with natural resources, but exploitation has been hampered by the rugged terrain and the high cost of developing infrastructure. Agriculture provides a subsistence livelihood for the bulk of the population.
Economy of Paraguay Paraguay has a market economy and is marked by a large informal sector. The informal sector features both reexport of imported consumer goods to neighboring countries as well as the activities of thousands of microenterprises and urban street vendors.
Economy of PĂłvoa de Varzim In 2001, the population working in the primary sector, industries and other similar activities made up almost 39% of the population of PĂłvoa de Varzim, while 46% of the population (plus 27% in related activities) worked in civil construction, commerce, restaurants, hotels and other services. The unemployment rate of PĂłvoa de Varzim was 5.
Economy of Pittsburgh, Pennsylvania The economy of Pittsburgh, Pennsylvania is diversified, focused on services, medicine, higher education, tourism, banking, corporate headquarters and high technology. Once the center of the American steel industry, and still known as "The Steel City," today the city of Pittsburgh has no steel mills.
Economy of Poland Poland has steadfastly pursued a policy of economic liberalization throughout the 1990s with mixed results. The privatization of small and medium state-owned companies and a liberal law on establishing new firms has encouraged the development of the private business sector, which has been the main drive for Poland's economic growth.
Economy of Portugal Portugal is a capitalist economy with a per capita gross domestic product two-thirds that of the four big Western European economies. The country continues to run a trade deficit and a balance of payments deficit.
Economy of Qatar Petroleum is the cornerstone of Qatar's economy and accounts for more than 70% of total government revenue, more than 60% of gross domestic product, and roughly 85% of export earnings. Proved oil reserves of 3.
Economy of Russia Although only half the size of the former Soviet economy, the economy of Russia includes formidable assets. Russia possesses ample supplies of many of the world's most valued natural resources, especially those required to support a modern industrialized economy.
Economy of Saba Saba's economy has always been limited by its small land mass (five square miles) and low population (currently about 1500 people). Because Saba is a dormant volcano with rocky shores and only one beach, tourism was slow to develop.
Economy of Saint Kitts and Nevis The economy of Saint Kitts and Nevis has traditionally depended on the growing and processing of sugar cane; decreasing world prices have hurt the industry in recent years. Tourism, export-oriented manufacturing, and offshore banking activity have assumed larger roles.
Economy of Saint-Pierre and Miquelon The economy of Saint-Pierre and Miquelon possesses the feature that the inhabitants have traditionally earned their livelihood by fishing and by servicing fishing fleets operating off the coast of Newfoundland. The economy has been declining, however, because of disputes with Canada over fishing quotas and a steady decline in the number of ships stopping at the islands.
Economy of Salt Lake City The economy of Salt Lake City, Utah is primarily service-oriented. While nearby Kennecott Copper Mine (the world's largest open-pit mine) provided a strong source of income during the 19th century, the city has evolved to an economy built on transit hubs, call centers, and seasonal tourism.
Economy of Saudi Arabia Saudi Arabia has an oil-based economy with strong government controls over major economic activities. Saudi Arabia possesses 25% of the world's proven petroleum reserves, ranks as the largest exporter of petroleum, and plays a leading role in OPEC.
Economy of São Tomé and Príncipe The economy of São Tomé and Príncipe while traditionally dependent on cocoa is experiencing considerable changes due to investment in the development of its oil industry its territorial waters in the oil-rich waters of the Gulf of Guinea. In 2003, the government agreed a Joint Development Zone over the area which gives Sao Tome 40% of revenues.
Economy of Scotland The economy of Scotland is closely linked with the rest of Europe, and is essentially a mixed economy. Scotland has the third largest GDP per capita of any region of the United Kingdom after London and the South East of England.
Economy of Scotland in the High Middle Ages The Economy of Scotland in the High Middle Ages for the purposes of this article pertains to the economic situation in Scotland between the death of Domnall II in 900, and the death of Alexander III in 1286 which then led indirectly to the Scottish Wars of Independence. The period corresponds roughly with general European historical era known as the High Middle Ages, and also with the Medieval Warm Period.
Economy of Senegal In January 1994, Senegal undertook a bold and ambitious economic reform program with the support of the international donor community. This reform began with a 50% devaluation of Senegal's currency, the CFA franc, which was linked at a fixed rate to the French franc.
Economy of Sierra Leone Economic development has always been hampered by an overdependence on mineral exploitation. Successive governments and the population as a whole have always believed that "diamonds and gold" are sufficient generators of foreign currency earnings and lure for investment.
Economy of Singapore The Economy of Singapore is a highly developed and successful free market economy in which the state plays a major role. It has an open business environment, relatively corruption-free and transparent, stable prices, and one of the highest per capita gross domestic products (GDP) in the world.
Economy of Somalia Somalia has a market economy. It lacks natural resources (or untapped resources such as Oil) and faces major development challenges, and recent economic reverses have left its people increasingly dependent on remittances from abroad.
Economy of South Africa South Africa has a two-tiered economy; one rivalling other developed countries and the other with only the most basic infrastructure. It therefore is a productive and industrialised economy that exhibits many characteristics associated with developing countries, including a division of labour between formal and informal sectors--and uneven distribution of wealth and income.
Economy of South India The Economy of South India is largely agrarian, dependent on monsoons, as are most people in India. Some of the main crops cultivated in South India include paddy, sorghum, millet, pulses, cotton, chilli, and ragi.
Economy of South Korea The economy of South Korea is the 10th largest in the world according to GDP measured by nominal, and the 14th when measured by PPP, as of 2006. Per capita gross national product, only $100 in 1963, exceeded $20,000 USD in 2005.
Economy of Stamford, Connecticut The economy of Stamford, Connecticut is unusual for having a cluster of corporate headquarters (many of which moved from New York in the 1980s both to lower their tax bill and to be closer to the homes of their top executives).
Economy of Sudan Sudan's primary resources are agricultural, but oil production and export are taking on greater importance since October 2000. Although the country is trying to diversify its cash crops, cotton and gum Arabic remain its major agricultural exports.
Economy of Suriname The backbone of the economy of Suriname is the export of aluminium oxide (alumina) and small amounts of aluminium produced from bauxite mined in the country. In 1999, the aluminium smelter at Paranam was closed and mining at 'Onverdacht' ceased; however, alumina exports accounted for 72% of Suriname's estimated export earnings of US$496.
Economy of Switzerland The economy of Switzerland is one of the world's most stable economies. Its policy of long-term monetary security and bank secrecy has made Switzerland a safe haven for investors, creating an economy that is increasingly dependent on a steady tide of foreign investment.
Economy of Syria Syria is a middle-income, developing country with a diversified economy based on agriculture, industry, and energy. Its current GDP per capita expanded 80% in the Sixties reaching a peak growth of 336% in the Seventies.
Economy of Szabolcs-Szatmár-Bereg The county of Szabolcs-Szatmár-Bereg in eastern Hungary borders three countries, and it is the only county bordering the Ukraine. The railway crossing the border towards the Ukraine is well developed, with high capacity and is thus able to satisfy the requirements of transit traffic and of bilateral trade.
Economy of the African Union The combined states of the African Union constitute the world's 17th largest economy with a nominal GDP of US$500 billion, ranking after the Netherlands. By measuring GDP by PPP, the African Union's economy totals 1.

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