Middle East Economic Systems

Israel Israeli Shekel  Mixed economic system  Technologically advanced economic system  Major exports: cut diamonds, high-tech equipment, agricultural products  Dependent upon foreign loans but has strong fiscal policies in place that allow the GDP to grow  GDP Per Capita” $29,500

Jordan Jordanian Dinar  Among the smallest nations in the Middle East  Lacks natural resources such as oil  Relies heavily on foreign assistance  Very poor country with high unemployment  Mixed economy that was primarily government run until recent moves to a more market-based approach  GDP Per Capita: $5,300

Saudi Arabia Riyal Note  Oil based economy with strong government controls of major economic activities  Trying to move to right (market) by introducing private companies and encouraging entrepreneurship  Improving GDP due to recent diversification  Moving away from oil based and more to modern European style economy  GDP Per Capita: $24,200

Iran 100,000 Rial Note  Economy hindered by an inefficient government  Heavily subsidized, government-managed economy based on oil exports  Private sector is small scale and price controls hold the economy down  Recent reduction od subsidies has hurt the middle and upper classes  GDP Per Capita: $11,200