Economic Structure of Muslim Countries
Economic Structure
Abstract
Muslim countries are bestowed with abundant natural resources. They have fertile lands, vast water and mineral resources which play a vital role in their economic development. Agriculture sector has remained a backbone for the economy of most of the Muslim countries such as Pakistan, Bangladesh, Kazakhstan, Kyrgyz Republic and Guinea-Bissau etc. Some Muslim countries like Malaysia, Indonesia, Bangladesh and Pakistan are focusing on their industrial development. Muslim countries are also following liberal market policy to attain the rewards of dynamic economy. Natural resources, especially oil and gas, have a large contribution to GDP and foreign exchange earnings of Muslim countries such as Kazakhstan, Kuwait, Iraq, UAE, Saudi Arabia, Algeria and Libya etc. A few Muslim countries such as Qatar and Oman are attaining increasing and stable GDP and per-capita income growth. The main reason of this growth is the abundance of natural resources. Furthermore, they are focusing on the development of industry, construction and service sectors. It is the need of time that Muslim countries should enhance their mutual cooperation in industry, trade and investment. They should work together to set up economic union for the integration and development of Muslim countries. The purpose of this research paper is to discuss the economic structure of Muslim countries. This research work will add a new asset in literature. It will contribute to the field of Islamic Economics. It will help readers learn about the main economic feature of Muslim countries. The research paper follows content analysis.
References
Muslim Population in the World, http://www.muslimpopulation.com/World/ , accessed June 5, 2020
Jewish Virtual Library ,Islam: Muslim Population, Worldwide, http://www.jewishvirtuallibrary.org/muslim-population-worldwide, accessed June 5, 2020
Pew Research Centre, The Future of World Religions: Population Growth Projections, 2010-20150, 2 April 2015, http://www.pewforum.org/2015/04/02/religious-projections-2010-2050, accessed June 5, 2020
Natural Resource Management and Peacebuilding in Afghanistan, https://postconflict.unep.ch/publications/UNEP_Afghanistan_NRM_guidance_chart.pdf, accessed June 5, 2020
Gas Exporting Countries Forum (GECF), Algeria, https://www.gecf.org/countries/algeria, accessed June 7, 2020
Organization of the Petroleum Exporting Countries (OPEC), Algeria Facts and Figure, https://www.opec.org/opec_web/en/about_us/146.htm, accessed June 7, 2020
Central Intelligence Agency, The World FactBook- Middle East –Azerbaijan, 21 July 2020, https://www.cia.gov/library/publications/the-world-factbook/geos/aj.html, accessed June 7, 2020
Ministry of Information Affairs, Location and Natural Resources, https://www.mia.gov.bh/kingdom-of-bahrain/location-and-natural-resources/?lang=en, accessed June 7, 2020
Andrew Mwaniki, What are the Major Natural Resources of Bangladesh?, WorldAtlas, 26 July 2018, https://www.worldatlas.com/articles/what-are-the-major-natural-resources-of-bangladesh.html, accessed June 8, 2020
Joseph Kiprop, What Are The Major Natural Resources of Egypt, WorldAtlas, 9 January 2019, https://www.worldatlas.com/articles/what-are-the-major-natural-resources-of-egypt.html, accessed June 8, 2020
Richard Dutu , Making the Most of Natural Resources in Indonesia, OECD Economics Department, p.7, https://www.oecd-ilibrary.org/docserver/5js0cqqk42ls-en.pdf?expires=1595922587&id=id&accname=guest&checksum=A101D3AAA0F176ED798670A70AA106DD, accessed June 8, 2020
Gas Exporting Countries Forum (GECF), Iran, https://www.gecf.org/countries/iran, accessed June 8, 2020
Organization of the Petroleum Exporting Countries (OPEC), Iran Facts and Figures, https://www.opec.org/opec_web/en/about_us/163.htm, accessed June 8, 2020
Embassy of Republic of Iraq, Economy, http://www.iraqiembassy.us/page/economy? , accessed June 15, 2020
Asian Development Bank, Central Asia Atlas of Natural Resources, Manila (Philippines): Central Asian Countries Initiative for Land Management Asian Development Bank, 2010, pp.31-32
KPMG, Oil and Gas, https://home.kpmg/kw/en/home/industries/energy.html, accessed June 8, 2020
Central Asia Atlas of Natural Resources, Manila (Philippines): Central Asian Countries Initiative for Land Management Asian Development Bank, p.35
Ibid, p.26
Encyclopedia of Nations, Morocco-Economy, https://www.nationsencyclopedia.com/Africa/Morocco-ECONOMY.html, accessed June 8, 2020
Gas Exporting Countries Forum (GECF), Nigeria, https://www.gecf.org/countries/nigeria, accessed June 9, 2020
Ibid, Oman, https://www.gecf.org/countries/oman, accessed June 10, 2020
Unearthing Pakistan’s Natural Resources, The News, 5 April 2011, https://www.thenews.com.pk/archive/print/612949-unearthing-pakistan%E2%80%99s-natural-resources, accessed June 10, 2020
Gas Exporting Countries Forum (GECF), Qatar ,https://www.gecf.org/countries/qatar, accessed June 10, 2020
Geoffrey Migiro, Countries With the Most Natural Resources, WorldAtlas, 29 August 2018, https://www.worldatlas.com/articles/countries-with-the-most-natural-resources.html, accessed June 10, 2020
Ibid, p. 65
Ibid
The World Bank, The World Bank in Turkmenistan, https://www.worldbank.org/en/country/turkmenistan/overview, accessed June 9, 2020
Central Asia Atlas of Natural Resources, p. 44
UAE Discovers New Natural Gas Reserves, 4 February 2020, https://www.jagranjosh.com/current-affairs/uae-discovers-new-natural-gas-reserves-abu-dhabi-dubai-1580798643-1, accessed June 9, 2020
Marriam Amini, At Stake in US Military Efforts to Stabilize Afghanistan: At Least $ 3 Trillion in Natural Resources, 19 August 2017, https://www.cnbc.com/2017/08/18/trumps-afghanistan-strategy-may-unlock-3-trillion-in-natural-resources.html, accessed June 5, 2020
Government of the Punjab, Agriculture Department, Overview, http://www.agripunjab.gov.pk/overview, accessed June 11, 2020
Central Asia Atlas of Natural Resources, p.32
Ibid, p-39
African Development Bank Group, Guinea-Bissau Economic Outlook,
https://www.afdb.org/en/countries/west-africa/guinea-bissau/guinea-bissau-economic-outlook, accessed June 12, 2020
The Commonwealth, Bangladesh Economy, https://thecommonwealth.org/our-member-countries/bangladesh/economy, accessed June 12, 2020
Organization for Economic Co-operation and Development (OECD), Economic Survey- Turkey, July 2018, p.8, http://www.oecd.org/economy/surveys/Turkey-2018-OECD-economic-survey-overview.pdf, accessed June 12, 2020
Ibid,p.9
Ibid,p.8
Embassy of Republic of Iraq, Economy, http://www.iraqiembassy.us/page/economy? , accessed June 15, 2020
Gas Exporting Countries Forum (GECF), Oman, https://www.gecf.org/countries/oman, accessed June 10, 2020
Index of Economic Freedom, Qatar, https://www.heritage.org/index/country/qatar, accessed June 15, 2020
Gas Exporting Countries Forum (GECF), UAE, https://www.gecf.org/countries/uae, accessed June 15, 2020
Ibid, Malaysia, https://www.gecf.org/countries/malaysia accessed June 15, 2020
Indonesia Investment, Economy of Indonesia, https://www.indonesia-investments.com/culture/economy/item177, accessed June 15, 2020
Gas Exporting Countries Forum (GECF), Egypt, https://www.gecf.org/countries/egypt, accessed June 15, 2020
African Development Bank Group, Benin Economic Outlook, https://www.afdb.org/en/countries-west-africa-benin/benin-economic-outlook, accessed June16, 2020
Ibid, Guinea Economic Outlook,
https://www.afdb.org/en/countries/west-africa/guinea/guinea-economic-outlook, accessed June 16, 2020
Ibid, Niger Economic Outlook, https://www.afdb.org/en/countries-west-africa-niger/niger-economic-outlook, accessed June 16, 2020
Gas Exporting Countries Forum (GECF), Nigeria, https://www.gecf.org/countries/nigeria, accessed June 16, 2020
Central Asia Atlas of Natural Resources, pp.34-35
Organization of the Petroleum Exporting Countries (OPEC), Libya Facts and Figures, https://www.opec.org/opec_web/en/about_us/166.htm, accessed June 16, 2020
Ibid, Kuwait Facts and Figures, https://www.opec.org/opec_web/en/about_us/165.htm, accessed June 17, 2020
Gas Exporting Countries Forum (GECF), Iraq, https://www.gecf.org/countries/iraq, accessed June 17, 2020
Embassy of Republic of Iraq, Economy, http://www.iraqiembassy.us/page/economy? , accessed June 15, 2020
Organization of the Petroleum Exporting Countries (OPEC), UAE Facts and Figures, https://www.opec.org/opec_web/en/about_us/170.htm, accessed June 17, 2020
Ibid, Saudi Arabia Facts and Figure, https://www.opec.org/opec_web/en/about_us/169.htm, accessed June 18, 2020
Organization of the Petroleum Exporting Countries (OPEC), Libya Facts and Figures, https://www.opec.org/opec_web/en/about_us/166.htm, accessed June 16, 2020
Gas Exporting Countries Forum (GECF), Nigeria, https://www.gecf.org/countries/nigeria, accessed June 16, 2020
Copyright (c) 2023 Al-Az̤vā

This work is licensed under a Creative Commons Attribution 4.0 International License.
On the submission of an article, the author(s) are assumed to grant the copyright of the article to the journal which will edit, format, publish and get it indexed by the indexing agencies.