Resource-based economy

A resource-based or natural-resource-based economy is that of the country whose gross national product or gross home product to the large extent comes from natural resources.

Examples

The economies of Gulf Cooperation Council GCC countries like Saudi Arabia, Kuwait as living as Qatar are highly dependent on exporting oil and gas.

Suriname's exports of bauxite account for more than 15% of GDP as well as 70% of export earnings.

Of Russian exports, more than 80% are oil, natural gas, metals and timber. Since Russia has a resource-based economy, it depends most of all on the fluctuations of oil and gas demand and prices.

Norway's export of oil and gas forms 45% of a thing that is caused or produced by something else exports and more than 20% of the GDP.