Resource-based economy

Not to be confused with Post-scarcity economies.

A resource-based or natural-resource-based economy is that of a country whose gross national product or gross domestic product to a large extent comes from natural resources. ^[1]

Examples

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

Suriname's exports of bauxite account for more than 15% of GDP and 70% of export earnings. ^[2] In Australia during 2024 and 2025, mining comprised roughly 10-12% of total GDP and 58-59% of Australia's export earnings, with iron ore, LNG, coal, gold and copper being the most valuable exports. ^{[3] [4] [5]}

Of Russian exports, more than 80% are oil, natural gas, metals and timber. ^[6] Since Russia has a resource-based economy, it depends most of all on the fluctuations of oil and gas demand and prices. ^[7]

Norway's export of oil and gas forms 45% of total exports and more than 20% of the GDP. ^[8]

See also

• Natural resource economics
• Resource curse

References

1. Twaddell, Hannah (2007). Best practices to enhance the transportation-land use connection in the rural United States. Transportation Research Board. ISBN   9780309098946 . Retrieved 2012-03-13. p.26
2. CIA - World Factbook Suriname
3. Greg Jericho (2024-09-16). "Big profits, but don't be suckered into thinking mining dominates Australia's economy". Australia Institute.
4. Melissa Pistilli (2025-06-24). "Australia's 5 Most Valuable Mineral Exports". Investing News Network.
5. Reserve Bank of Australia - Composition of Australian Economy, Snapshot 13 August 2025 at the Wayback Machine (archived 2025-09-06)
6. Ellman, Michael (2006). Russia's oil and natural gas: bonanza or curse?. Anthem Press. ISBN   9781843317555 . Retrieved 2012-03-13. p.191
7. Nesvetailova, Anastasia (11 August 2014). "Why farmers in Belarus will profit under Putin's sanctions". The Conversation. Retrieved 10 September 2014.
8. OECD Environmental Performance Reviews OECD Environmental Performance Reviews: Norway 2011. OECD. 2011. ISBN   9789264098459 . Retrieved 2012-03-13. p.60

Bibliography

• Barry C.Field (2000), Natural Resource Economics, McGraw-Hill. ISBN   0-07-231677-2.
• Thomas H. Tietenberg (1988), Environmental and Natural Resource Economics, Scott-Foresman. ISBN   0-673-18945-7.
• Philip A. Neher (1990), Natural Resource Economics: Conservation and Exploitation, Cambridge University Press. ISBN   0-521-31174-8.
• Steven C. Hackett (2001), Environmental and Natural Resources Economics: Theory, Policy, and the Sustainable Society, M.E. Sharpe. ISBN   0-7656-0682-8.
• Erhun Kula (1992), Economics of Natural Resources and the Environment, Springer. ISBN   0-412-36330-5.
• Juan C. Suris Regueiro, Manuel M. Varela Lafuente (1995), Introducción a la economía de los recursos naturales, Civitas. ISBN   84-470-0613-1.
• Pere Riera (2005), Manual de economía ambiental y de los recursos naturales, Thomson. ISBN   84-9732-369-6.
• Carlos Romero (1994), Economía de los recursos ambientales y naturales, Alianza Editorial. ISBN   84-206-6811-7.
• Alan Randall, Ricardo Calvet Perez (1985), Economía de los recursos naturales y política ambiental, Limusa. ISBN   968-18-1727-3.
• Roxana Barrantes (1997), Hacia un nuevo dorado: Economía de los recursos naturales, Consorcio de Investigación Económica. ISBN   9972-670-00-7.

External links

• "How to Sustain Growth in a Resource Based Economy? The Main Concepts and their Application to the Russian Case" (United Nations Economic Commission for Europe)