Economy - overview: Economic activity is limited to commercial fishing. The proximity to nearby oil- and gas-producing sedimentary basins indicate potential oil and gas deposits, but the region is largely unexplored. No reliable estimates of potential reserves are available. Commercial exploitation has yet to be developed.
Definition: This entry briefly describes the type of economy, including the degree of market orientation, the level of economic development, the most important natural resources, and the unique areas of specialization. It also characterizes major economic events and policy changes in the most recent 12 months and may include a statement about one or two key future macroeconomic trends.
Source: CIA World Factbook - This page was last updated on July 9, 2017