Eritrea Economy

As of 2005, Eritrea is one of the poorest countries in the world.
More than half of the population lives on less than US$1 per day
, and about one-third lives in extreme poverty (defined as subsisting
on less than 2,000 calories per day). Although the Eritrean government
has stated its commitment to adoption of market-based economic policies
in the long run, authorities are increasingly reliant on centrally planned economic
management. In general, the government produces few consistent and reliable statistics on economic activity. Eritrea has experienced modest economic growth in recent years, indicated
by an improvement in Gross domestic product (GDP) in 2004 of 2.5% over 2003. However, worker remittances from abroad are estimated to account for 32 percent of gross domestic product.[1

Saudi Arabia Economy

Saudi Arabia has an oil-based economy with strong government

control 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.

Saudi Arabia's economy is a centrally planned economy. However,

there are some private companies in Saudi Arabia. They are strictly

controlled and regulated by the Saudi Arabian government, though.

Uganda Economy

Endowed with significant natural resources, including ample fertile land, regular rainfall, and mineral deposits, the economy of Uganda has great potential, and it appeared poised for rapid economic growth and development. However, chronic political instability and erratic economic management produced a record of persistent economic decline that has left Uganda among the world's poorest and least-developed countries. The national energy needs have historically been more than domestic energy generation, though large petroleum reserves have been found in the west.

After the turmoil of the Amin era, the country began a program of economic recovery in 1981 that received considerable foreign assistance. From mid-1984 on, however, overly expansionist fiscal and monetary policies and the renewed outbreak of civil strife led to a setback in economic performance.

Liberia Economy

The Liberian Civil War in 1989-96 destroyed much of Liberia's economy, especially the infrastructure in and around Monrovia. Many businessmen fled the country, taking capital and expertise with them. Some returned during 1997. Many will not return. Richly endowed with water, mineral resources, forests, and a climate favorable to agriculture, Liberia had been a producer and exporter of basic products, while local manufacturing, mainly foreign owned, had been small in scope. The democratically elected government, installed in August 1997, inherited massive international debts and currently relies on revenues from its maritime registry to provide the bulk of its foreign exchange earnings. The restoration of the infrastructure and the raising of incomes in this ravaged economy depend on the implementation of sound macro- and micro-economic policies of the new government, including the encouragement of foreign investment

Venezuela Economy

The economy of Venezuela is based in large part on oil. The petroleum sector dominates the economy, accounting for roughly a third of GDP, around 80% of export earnings, and more than half of government operating revenues. Venezuela is the fifth biggest member in OPEC. From the 1950s to the early 1980s the Venezuelan economy was the strongest in South America. The continuous growth during that period attracted many immigrants. During the collapse of oil prices during the 1980s the economy contracted. With the recent rise in oil prices and rising government expenditures, Venezuela's economy grew by 9% in 2007. However, there is still considerable income inequality. Although commonly thought to be a command economy, government spending as a percentage of GDP in Venezuela in 2007 was 30%, smaller than other capitalist countries such as France (49%) and Sweden (52%) ^[3]. According to official sources, the percentage of people below the national poverty line has decreased significantly during the Chavez years, from 48.1% in 2002 to 30.2% in 2006.

Economic Community of West African

An economic grouping constituted largely on the initiative of General GOWON

at Lagos in 1975 by 15 West African countries, and later (1977) joined by Cape

Verde. Its object was to provide a programme of liberalization of trade and to

bring about an eventual customs union. A common fund was established to promote

development projects, with specialized commissions for trade, industry, transport,

and social and cultural affairs. A new treaty was signed in 1993, designating the

creation of a free-trade zone and a single currency as specific objectives and planning

the establishment of a West African parliament and a new ECOWAS court of justice.

Malawi Currency

Malawi is a landlocked, densely populated country. Its economy is heavily dependent on agriculture. Malawi has few exploitable mineral resources. Its two most important export crops are tobacco and tea. Traditionally Malawi has been self-sufficient in its staple food, maize, and during the 1980s exported substantial quantities to its drought-stricken neighbors. Agriculture represents 34.7% of the GDP and represents about 80% of all exports. Nearly 90% of the population engages in subsistence farming. Smallholder farmers produce a variety of crops, including maize (corn), beans, rice, cassava, tobacco, and groundnuts (peanuts).The agricultural sector contributes about 63.7% of total income for the rural population, 65% of manufacturing sector's raw materials, and approximately 87% of total employment. Financial wealth is generally concentrated in the hands of a small elite. Malawi's manufacturing industries are situated around the city of Blantyre.

Malawi's economic reliance on the export of agricultural commodities renders it particularly vulnerable to external shocks such as declining terms of trade and drought. High transport costs, which can comprise over 30% of its total import bill, constitute a serious impediment to economic development and trade. Malawi must import all its fuel products. Paucity of skilled labor; difficulty in obtaining expatriate employment permits; bureaucratic red tape; corruption; and inadequate and deteriorating road, electricity, water, and telecommunications infrastructure further hinder economic development in Malawi. However, recent government initiatives targeting improvements in the road infrastructure, together with private sector participation in railroad and telecommunications, have begun to render the investment environment more attractive.