Middle East Economies Saudi Arabia, Iran, Israel, and Turkey

Make your foldable 1. Fold hotdog style 2. Hole punch along the fold 3. Cut the TOP layer into four equal pieces (3 cuts) 4. Label the flaps

Saudi Arabia Saudi Arabia has a mixed economy. Saudi Arabia’s main export is oil. The king of Saudi Arabia and his advisors make most of the decisions about how and where to use oil profits, but they have invested a lot of the nation’s wealth in technologies that allow them to produce goods they would not be able to do otherwise in a desert climate. The oil industry has made the Saudi royal family quite wealthy. Oil accounts for well over half of the country’s economy. Oil funds the country’s education, defense, transportation, health, and housing. Although the government controls all major economic activity, the government is trying to encourage more private business to decrease the nation’s dependency on oil.

Saudi Arabia Type of Economy: Mixed Facts about economy: oil is VERY important oil wealth pays for schools, roads, and lots more

Iran Iran has a mixed economy with lots of government control. The government owns the nation’s rich oil and gas supplies and controls various large industries. Though Iran has a mixed economy, the government attempts to keep tight control. Iran’s economy has not been very efficient in recent years. Even though there is oil wealth, many Iranians do not share in the money. However, as the country introduces more industry and modernization, the economy continues to grow.

Iran Type of Economy: Mixed Facts about economy: oil is VERY important government control has hurt the economy

Israel Israel has a mixed economy that is also technologically advanced. The Israeli government and private Israeli companies own and control the economy. Israel does not have many natural resources. Israel has to import grain, oil, military technologies, and many other goods. The country is a producer of high-tech equipment, some crops, and cut diamonds. The service industry accounts for much of Israel’s economy; areas such as insurance, banking, retail, and tourism account for over half of it.

Israel Type of Economy: Mixed Facts about economy: most important part of economy = services most important good = technology

Turkey Turkey has a mixed economy. The government continues to regulate banks, transportation, and communications industries. However, in recent times, the government has been loosening its hold on these key businesses. More private ownership has been allowed. More laws have been passed to protect business owners. A large part of the country’s economy is based on farming. Clothing and textiles are the country’s major industries. The service industry makes up half of Turkey’s economy.

Turkey Type of Economy: Mixed Major Industries: services, goods, and farming are equally important most important good = textiles (clothing)

On the back Draw one large economy continuum. Mark all four countries on it. Back