Part 358

Uzbekistan Uzbekistan is a dry, landlocked country; 11% of the land is intensely cultivated, in irrigated river valleys. More than 60% of the population lives in densely populated rural communities. Export of hydrocarbons, including natural gas and petroleum, provided about 40% of foreign exchange earnings in 2009. Other major export earners include gold and cotton. Uzbekistan is now the world's second-largest cotton exporter and fifth largest producer; it has come under increasing international criticism for the use of child labor in its annual cotton harvest. Nevertheless, Uzbekistan enjoyed a bumper cotton crop in 2010 amidst record high prices. Following independence in September 1991, the government sought to prop up its Soviet-style command economy with subsidies and tight controls on production and prices. While aware of the need to improve the investment climate, the government still sponsors measures that often increase, not decrease, its control over business decisions. A sharp increase in the inequality of income distribution has hurt the lower ranks of society since independence. In 2003, the government accepted Article VIII obligations under the IMF, providing for full currency convertibility. However, strict currency controls and tightening of borders have lessened the effects of convertibility and have also led to some shortages that have further stifled economic activity. The Central Bank often delays or restricts convertibility, especially for consumer goods. Potential investment by Russia and China in Uzbekistan's gas and oil industry, as well as increased cooperation with South Korea in the realm of civil aviation, may boost growth prospects. However, decreased demand for natural gas in Europe and Russia in the wake of the global financial crisis could reduce energy-related revenues in the near term. In November 2005, Russian President Vladimir PUTIN and Uzbekistan President KARIMOV signed an "alliance," which included provisions for economic and business cooperation. Russian businesses have shown increased interest in Uzbekistan, especially in mining, telecom, and oil and gas. In 2006, Uzbekistan took steps to rejoin the Collective Security Treaty Organization (CSTO) and the Eurasian Economic Community (EurASEC), which it subsequently left in 2008, both organizations dominated by Russia. In the past Uzbek authorities had accused US and other foreign companies operating in Uzbekistan of violating Uzbek tax laws and have frozen their assets, but no new expropriations occurred in 2008-09. Instead, the Uzbek Government has actively courted several major U.S. and international corporations, offering attractive financing and tax advantages, and has landed a significant US investment in the automotive industry. Although growth slowed in 2009-10, Uzbekistan has seen few other effects from the global economic downturn, primarily due to its relative isolation from the global financial markets.

Vanuatu This South Pacific island economy is based primarily on small-scale agriculture, which provides a living for about two-thirds of the population. Fishing, offshore financial services, and tourism, with nearly 197,000 visitors in 2008, are other mainstays of the economy. Mineral deposits are negligible; the country has no known petroleum deposits. A small light industry sector caters to the local market. Tax revenues come mainly from import duties. Economic development is hindered by dependence on relatively few commodity exports, vulnerability to natural disasters, and long distances from main markets and between constituent islands. In response to foreign concerns, the government has promised to tighten regulation of its offshore financial center. In mid-2002, the government stepped up efforts to boost tourism through improved air connections, resort development, and cruise ship facilities. Agriculture, especially livestock farming, is a second target for growth. Australia and New Zealand are the main suppliers of tourists and foreign aid.

Venezuela Venezuela remains highly dependent on oil revenues, which account for roughly 95% of export earnings, about 55% of the federal budget revenues, and around 30% of GDP. A nationwide strike between December 2002 and February 2003 had far-reaching economic consequences - real GDP declined by around 9% in 2002 and 8% in 2003 - but economic output since then has recovered strongly. Fueled by high oil prices, record government spending helped to boost GDP by about 10% in 2006, 8% in 2007, and nearly 5% in 2008, before a sharp drop in oil prices caused a contraction in 2009-10. This spending, combined with recent minimum wage hikes and improved access to domestic credit, has created a consumption boom but has come at the cost of higher inflation - roughly 32% in 2008, and slowing only slightly to 30% in 2010, despite the lengthy downturn. Imports also jumped significantly before the recession of 2009. President Hugo CHAVEZ's continued efforts to increase the government's control of the economy by nationalizing firms in the agribusiness, financial, construction, oil, and steel sectors have hurt the private investment environment, reduced productive capacity, and slowed non-petroleum exports. In the first half of 2010 Venezuela faced the prospect of lengthy nationwide blackouts when its main hydroelectric power plant - which provides more than 35% of the country's electricity - nearly shut down. In January, 2010, CHAVEZ announced a dual exchange rate system for the bolivar and closed the unofficial foreign exchange market - the "parallel" market - in an effort to stem inflation and slow the currency's depreciation. The foreign exchange system offers a 2.6 bolivar per dollar rate for imports of essentials, including food, medicine, and industrial machinery, and a 4.3 bolivar per dollar rate for imports of other products, including cars and telephones.

Vietnam Vietnam is a densely-populated developing country that in the last 30 years has had to recover from the ravages of war, the loss of financial support from the old Soviet Bloc, and the rigidities of a centrally-planned economy. Vietnamese authorities have reaffirmed their commitment to economic liberalization and international integration. They have moved to implement the structural reforms needed to modernize the economy and to produce more competitive export-driven industries. Vietnam joined the WTO in January 2007 following more than a decade-long negotiation process. WTO membership has provided Vietnam an anchor to the global market and reinforced the domestic economic reform process. Agriculture's share of economic output has continued to shrink from about 25% in 2000 to about 21% in 2009. Deep poverty has declined significantly and Vietnam is working to create jobs to meet the challenge of a labor force that is growing by more than one million people every year. The global recession has hurt Vietnam's export-oriented economy with GDP growing less than the 7% per annum average achieved during the last decade. In 2009 exports fell nearly 10% year-on-year, prompting the government to consider adjustments to tariffs to limit the trade deficit. The government has used stimulus spending, including a subsidized lending program, to help the economy through the global financial crisis. Vietnam's managed currency, the dong, faced downward pressure during the recession and the government devalued it by nearly 7% in December 2009. Foreign donors pledged $8 billion in new development assistance for 2010. Export growth resumed in 2010, driving GDP upward. However, Hanoi has struggled to control one of the region's highest inflation rates, which stands at 11.1% with interest hikes and multiple devaluations of the dong. Vietnam's economy faces higher lending rates, additional IMF scrutiny, domestic inflationary pressures, and an underperforming stock market.

Virgin Islands Tourism is the primary economic activity, accounting for 80% of GDP and employment. The islands hosted 2.4 million visitors in 2008. The manufacturing sector consists of petroleum refining, rum distilling, textiles, electronics, pharmaceuticals, and watch assembly. One of the world's largest petroleum refineries is at Saint Croix. The agricultural sector is small, with most food being imported. International business and financial services are small but growing components of the economy. The islands are vulnerable to substantial damage from storms. The government is working to improve fiscal discipline, to support construction projects in the private sector, to expand tourist facilities, to reduce crime, and to protect the environment.

Wake Island Economic activity is limited to providing services to military personnel and contractors located on the island. All food and manufactured goods must be imported.

Wallis and Futuna The economy is limited to traditional subsistence agriculture, with about 80% of labor force earnings from agriculture (coconuts and vegetables), livestock (mostly pigs), and fishing. About 4% of the population is employed in government. Revenues come from French Government subsidies, licensing of fishing rights to Japan and South Korea, import taxes, and remittances from expatriate workers in New Caledonia.

West Bank The West Bank - the larger of the two areas comprising the Palestinian territories - experienced a high single-digit economic growth rate in 2010 as a result of inflows of donor aid, the Palestinian Authority's (PA) implementation of economic and security reforms, and the easing of some movement and access restrictions by the Israeli Government. Nevertheless, overall standard-of-living measures remain near levels seen prior to the start of the second intifada in 2000. The almost decade-long downturn largely has been a result of Israeli closure policies - a steady increase in movement and access restrictions across the West Bank in response to Israeli security concerns which have disrupted labor and trade flows, industrial capacity, and basic commerce, both external and internal. Since 2008, the PA under President Mahmoud ABBAS and Prime Minister Salam FAYYAD has implemented a largely successful campaign of institutional reforms that has contributed to increased security and economic performance, supported by more than $3 billion in direct foreign donor assistance to the PA's budget since 2007. An easing of some Israeli restrictions on West Bank movement and access since 2008 also has contributed to an uptick in retail activity in larger cities. The biggest impediments to economic improvements in the West Bank remain Palestinians' lack of access to land and resources in Israeli-controlled areas, import and export restrictions, and a high-cost capital structure. Absent robust private sector growth, the PA will continue to rely heavily on donor aid for its budgetary needs.

Western Sahara Western Sahara has a small market-based economy whose main indutries are fishing, phosphate mining, and pastoral nomadism. The territory's arid desert climate makes sedentary agriculture difficult, and Wstern Sahara imports much of its food. The Moroccan Government administers Western Sahara's economy and is a source of employment, infrstructure development, and social spending in the territory. Western Sahara's unresolved legal status makes the exploitation of its natural resources a contentious issue between Morocco and the Polisario. Morocco and the EU in July 2006 signed a four-year agreement allowing European vessels to fish off the coast of Morocco, including the disputed waters off the coast of Western Sahara. Oil has never been found in Western Sahara in commercially significant quantities, but Morocco and the Polisario have quarreled over who has the right to authorize and benefit from oil exploration in the territory. Western Sahara's main long-term economic challenge is the development of a more diverse set of industries capable of providing greater employment and income to the territory.

World In 2010, world output - and per capita income - began to recover from the 2008-09 recession, the first global downturn since 1946. Gross World Product (GWP) grew 4.6%, largely on the strength of rebounding exports, which rose about 20% from the level of 2009. Growth was not evenly distributed across countries, however. Lower income countries - those with per capita incomes below $30,000 per year - averaged 6.3% growth, while higher income countries - with per capita incomes above $30,000 - averaged just 2.8% growth. And countries with current account surpluses averaged 6.0% growth, while those with current account deficits averaged just 3.4% growth. Among large economies, China (+10.1%), Taiwan (+8.3%), India (+8.3%), Brazil (+7.5%), and South Korea (+6.1%) recorded the biggest GDP gains - China also became the world's largest exporter. Continuing uncertainties in mortgage and financial markets resulted in slower growth in Japan (+3.0%), the US (+2.8%), and the European Union (+1.7%). In 2010, global unemployment continued to creep upwards, reaching 8.8% - underemployment, especially in the developing world, remained much higher. Global gross fixed investment stabilized at about 23% of GWP, after a significant drop in 2009. World trade appears to be returning to pre-2009 patterns, with current account surpluses or deficits rising for a majority of countries. World external debt, however, dropped again in 2010 - about 5% from the 2009 level, as many countries reduced borrowing. Many, if not most, countries pursued expansionary monetary and fiscal policies. The global money supply, both narrowly and broadly defined, increased roughly 10%, as countries tried to keep interest rates low; the global budget deficit stablilized at roughly $3.5 trillion, as countries tried to rein in spending and slow the rise of public debt. The international financial crisis of 2008-09 presents the world economy with a major new challenge, together with several long-standing ones. The fiscal stimulus packages put in place in 2009-10 required most countries to run budget deficits - government balances have deteriorated for 14 out of every 15 countries. Treasuries issued new public debt - totaling $5.5 trillion since 2008 - to pay for the additional expenditures. To keep interest rates low, many central banks monetized that debt, injecting large sums of money into the economies. As economic activity picks up, central banks will face the difficult task of containing inflation without raising interest rates so high they snuff out further growth. At the same time, governments will face the difficult task of spurring current growth and employment without saddling their economies with so much debt that they sacrifice long-term growth and financial stability. Long-standing challenges the world faces are several. The addition of 80 million people each year to an already overcrowded globe is exacerbating the problems of underemployment, pollution, waste-disposal, epidemics, water-shortages, famine, over-fishing of oceans, deforestation, desertification, and depletion of non-renewable resources. The nation-state, as a bedrock economic-political institution, is steadily losing control over international flows of people, goods, funds, and technology. Internally, central governments often find their control over resources slipping as separatist regional movements - typically based on ethnicity - gain momentum, e.g., in many of the successor states of the former Soviet Union, in the former Yugoslavia, in India, in Iraq, in Indonesia, and in Canada. Externally, central governments are losing decisionmaking powers to international bodies, most notably the EU. The introduction of the euro as the common currency of much of Western Europe in January 1999, while paving the way for an integrated economic powerhouse, poses economic risks because the participating nations are culturally and politically diverse and have varying levels and rates of growth of income, and hence, differing needs for monetary and fiscal policies. In Western Europe, governments face the difficult political problem of channeling resources away from welfare programs in order to increase investment and strengthen incentives to seek employment. Because of their own internal problems and priorities, the industrialized countries devote insufficient resources to deal effectively with the poorer areas of the world, which, at least from an economic point of view, are becoming further marginalized. The terrorist attacks on the US on 11 September 2001 accentuated a growing risk to global prosperity, illustrated, for example, by the reallocation of resources away from investment to anti-terrorist programs. Wars in Iraq and Afghanistan added new uncertainties to global economic prospects. Despite these challenges, the world economy also shows great promise. Technology has made possible further advances in all fields, from agriculture, to medicine, alternative energy, metallurgy, and transportation. Improved global communications have greatly reduced the costs of international trade, helping the world gain from the international division of labor, raise living standards, and reduce income disparities among nations. Much of the resilience of the world economy in the aftermath of the financial crisis resulted from government leaders around the globe working in concert to stem the financial onslaught, knowing well the lessons of past economic failures.

Yemen Yemen is a low income country that is highly dependent on declining oil resources for revenue. Petroleum accounts for roughly 25% of GDP and 70% of government revenue. Yemen has tried to counter the effects of its declining oil resources by diversifying its economy through an economic reform program initiated in 2006 that is designed to bolster non-oil sectors of the economy and foreign investment. In October 2009, Yemen exported its first liquefied natural gas as part of this diversification effort. In January 2010, the international community established the Friends of Yemen group that aims to support Yemen's efforts towards economic and political reform, and in August 2010 the IMF approved a three-year $370 million program to further this effort. Despite these ambitious endeavors, Yemen continues to face difficult long term challenges, including declining water resources and a high population growth rate.

Zambia Zambia's economy has experienced strong growth in recent years, with real GDP growth in 2005-08 about 6% per year. Privatization of government-owned copper mines in the 1990s relieved the government from covering mammoth losses generated by the industry and greatly improved the chances for copper mining to return to profitability and spur economic growth. Copper output has increased steadily since 2004, due to higher copper prices and foreign investment. In 2005, Zambia qualified for debt relief under the Highly Indebted Poor Country Initiative, consisting of approximately USD 6 billion in debt relief. Poverty remains a significant problem in Zambia, despite a stronger economy. Declining world commodity prices and demand slowed GDP growth in 2008, but a sharp rebound in copper prices and a bumper maize crop helped Zambia recover. Lack of economic diversity subjects Zambia to fluctuations in copper prices and in the weather.

Zimbabwe The government of Zimbabwe faces a wide variety of difficult economic problems. Its 1998-2002 involvement in the war in the Democratic Republic of the Congo drained hundreds of millions of dollars from the economy. The government's land reform program, characterized by chaos and violence, has badly damaged the commercial farming sector, the traditional source of exports and foreign exchange and the provider of 400,000 jobs, turning Zimbabwe into a net importer of food products. The EU and the US provide food aid on humanitarian grounds. Until early 2009, the Reserve Bank of Zimbabwe routinely printed money to fund the budget deficit, causing hyperinflation. The power-sharing government formed in February 2009 has led to some economic improvements, including the cessation of hyperinflation by eliminating the use of the Zimbabwe dollar and removing price controls. The economy is registering its first growth in a decade, but will be reliant on further political improvement for greater growth.

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Field Listing :: Pipelines

This entry gives the lengths and types of pipelines for transporting products like natural gas, crude oil, or petroleum products. Country

Pipelines(km)

Afghanistan gas 466 km (2009)

Albania gas 339 km; oil 207 km (2009)

Algeria condensate 1,937 km; gas 14,648 km; liquid petroleum gas 2,933 km; oil 7,579 km (2009)

Angola gas 2 km; oil 87 km (2009)

Argentina gas 28,248 km; liquid petroleum gas 41 km; oil 5,977 km; refined products 3,636 km (2009)

Armenia gas 2,233 km (2009)

Australia gas 27,105 km; liquid petroleum gas 240 km; oil 3,258 km; oil/gas/water 1 km (2009)

Austria gas 2,721 km; oil 663 km; refined products 157 km (2009)

Azerbaijan condensate 1 km; gas 3,361 km; oil 1,424 km (2009)

Bahrain gas 20 km; oil 32 km (2009)

Bangladesh gas 2,597 km (2009)

Belarus gas 5,250 km; oil 1,528 km; refined products 1,730 km (2009)

Belgium gas 1,330 km; oil 158 km; refined products 535 km (2009)

Bolivia gas 5,192 km; liquid petroleum gas 51 km; oil 2,488 km; refined products 1,590 km (2009)

Brazil condensate/gas 62 km; gas 9,989 km; liquid petroleum gas 353 km; oil 4,517 km; refined products 4,465 km (2009)

Brunei gas 37 km; oil 18 km (2009)

Bulgaria gas 2,926 km; oil 339 km; refined products 156 km (2009)

Burma gas 2,228 km; oil 558 km (2009)

Cameroon oil 889 km (2009)

Canada crude and refined oil 23,564 km; liquid petroleum gas 74,980 km (2009)

Chad oil 250 km (2009)

Chile gas 2,673 km; liquid petroleum gas 519 km; oil 892 km; refined products 769 km (2009)

China gas 32,545 km; oil 20,097 km; refined products 10,915 km (2009)

Colombia gas 4,567 km; oil 6,097 km; refined products 3,382 km (2009)

Congo, Democratic Republic of the gas 37 km; oil 39 km; refined products 756 km (2009)

Congo, Republic of the gas 7 km; oil 211 km (2009)

Costa Rica refined products 796 km (2009)

Cote d'Ivoire condensate 86 km; gas 180 km; oil 92 km (2009)

Croatia gas 1,327 km; oil 583 km (2009)

Cuba gas 41 km; oil 230 km (2009)

Czech Republic gas 7,010 km; oil 547 km; refined products 94 km (2009)

Denmark gas 2,858 km; oil 107 km (2009)

Ecuador extra heavy crude 435 km; gas 5 km; oil 1,374 km; refined products 1,301 km (2009)

Egypt condensate 320 km; condensate/gas 13 km; gas 6,262 km; liquid petroleum gas 956 km; oil 4,319 km; oil/gas/water 3 km; refined products 895 km; unknown 59 km (2009)

Equatorial Guinea gas 38 km (2009)

Estonia gas 859 km (2009)

Finland gas 694 km (2009)

France gas 14,688 km; oil 2,943 km; refined products 5,080 km (2009)

Gabon gas 240 km; oil 858 km (2009)

Georgia gas 1,596 km; oil 1,258 km (2009)

Germany gas 24,364 km; oil 3,379 km; refined products 3,843 km (2009)

Ghana oil 5 km; refined products 309 km (2009)

Greece gas 1,197 km; oil 75 km (2009)

Guatemala oil 480 km (2009)