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Enviroment homework - Essay Example

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This was less than the estimated GDP for the United States, Japan, and Germany whose GDP were $16.02, $5.88, and $3.883 trillion respectively (CIA). The total estimated GDP…
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Arab league members The total estimated growth domestic product- GDP for the 22 Arab league nations was $2.851 trillion (CIA). This was less than the estimated GDP for the United States, Japan, and Germany whose GDP were $16.02, $5.88, and $3.883 trillion respectively (CIA). The total estimated GDP for the Arab league nations slightly eclipsed those of the United Kingdom and France which were $2.443 and $2.57 trillion respectively (CIA). The total estimated GDP for Israel as at 2012 greatly eclipsed that of Palestine- West Bank and Gaza Strip. Israel’s estimated GDP for 2012 was $254 billion while that of Palestine was a paltry $6.641 billion (CIA).
The above GDP comparison of the Arab nations and the developed countries helps to debunk the myth that the Arab world has a stronger economy due to its natural resource of oil. It takes the entire sum total of all the Arab league nations’ GDP to march those of the United Kingdom and France. The sum total of the Arab league nations’ GDP still falls below those of Japan, Germany and the United states. These figures intimate that the economy of the Arab world is not as strong as it gets thought to be. Most of the Arab league nations’ rely on oil as their major export and source of GDP. Their economy is largely dependent on oil and is less diversified when compared to countries such as the US, Japan, Germany, France and the UK. There is need for the Arab world to diversify their countries’ economies so as to raise their GDP to the level of the developed nations in the globe.
Works Cited
Agency, Central Intelligence. The World Factbook. 28 January 2014. 28 January 2014 . Read More
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