Akrotiri
Economic activity is limited to providing services to the
military and their families located in Akrotiri. All food and
manufactured goods must be imported.

Albania
Poor and backward by European standards, Albania is making
the difficult transition to a more modern open-market economy. The
government has taken measures to curb violent crime and to spur
economic activity and trade. The economy is bolstered by annual
remittances from abroad of $600-$800 million, mostly from Greece and
Italy; this helps offset the towering trade deficit. Agriculture,
which accounts for about one-half of GDP, is held back because of
frequent drought and the need to modernize equipment, to clarify
property rights, and to consolidate small plots of land. Energy
shortages and antiquated and inadequate infrastructure make it
difficult to attract and sustain foreign investment. The planned
construction of a new thermal power plant near Vlore and improved
transmission and distribution facilities will help relieve the
energy shortages. Also, the government is moving slowly to improve
the poor national road and rail network, a long-standing barrier to
sustained economic growth. On the positive side: growth was strong
in 2003 and 2004, the nation has important oil and gas reserves, and
inflation is not a problem.

Algeria
The hydrocarbons sector is the backbone of the economy,
accounting for roughly 60% of budget revenues, 30% of GDP, and over
95% of export earnings. Algeria has the seventh-largest reserves of
natural gas in the world and is the second-largest gas exporter; it
ranks 14th in oil reserves. Sustained high oil prices in recent
years, along with macroeconomic policy reforms supported by the IMF,
have helped improve Algeria's financial and macroeconomic
indicators. Algeria is running substantial trade surpluses and
building up record foreign exchange reserves. Real GDP has risen due
to higher oil output and increased government spending. The
government's continued efforts to diversify the economy by
attracting foreign and domestic investment outside the energy
sector, however, has had little success in reducing high
unemployment and improving living standards. Structural reform
within the economy moves ahead slowly.

American Samoa
This is a traditional Polynesian economy in which
more than 90% of the land is communally owned. Economic activity is
strongly linked to the US, with which American Samoa conducts most
of its foreign trade. Tuna fishing and tuna processing plants are
the backbone of the private sector, with canned tuna the primary
export. Transfers from the US Government add substantially to
American Samoa's economic well-being. Attempts by the government to
develop a larger and broader economy are restrained by Samoa's
remote location, its limited transportation, and its devastating
hurricanes. Tourism is a promising developing sector.

Andorra
Tourism, the mainstay of Andorra's tiny, well-to-do economy,
accounts for roughly 80% of GDP. An estimated 9 million tourists
visit annually, attracted by Andorra's duty-free status and by its
summer and winter resorts. Andorra's comparative advantage has
recently eroded as the economies of neighboring France and Spain
have been opened up, providing broader availability of goods and
lower tariffs. The banking sector, with its "tax haven" status, also
contributes substantially to the economy. Agricultural production is
limited - only 2% of the land is arable - and most food has to be
imported. The principal livestock activity is sheep raising.
Manufacturing output consists mainly of cigarettes, cigars, and
furniture. Andorra is a member of the EU Customs Union and is
treated as an EU member for trade in manufactured goods (no tariffs)
and as a non-EU member for agricultural products.

Angola
Angola has been an economy in disarray because of a quarter
century of nearly continuous warfare. An apparently durable peace
was established after the death of rebel leader Jonas SAVIMBI in
February 2002, but consequences from the conflict continue including
the impact of widespread land mines. Subsistence agriculture
provides the main livelihood for 85% of the population. Oil
production and the supporting activities are vital to the economy,
contributing about 45% to GDP and more than half of exports. Much of
the country's food must still be imported. To fully take advantage
of its rich natural resources - gold, diamonds, extensive forests,
Atlantic fisheries, and large oil deposits - Angola will need to
continue reforming government policies and to reduce corruption.
While Angola made progress in further lowering inflation, from 325%
in 2000 to about 106% in 2002, the government has failed to make
sufficient progress on reforms recommended by the IMF such as
increasing foreign exchange reserves and promoting greater
transparency in government spending. Increased oil production
supported 7% GDP growth in 2003 and 12% growth in 2004.

Anguilla
Anguilla has few natural resources, and the economy depends
heavily on luxury tourism, offshore banking, lobster fishing, and
remittances from emigrants. Increased activity in the tourism
industry, which has spurred the growth of the construction sector,
has contributed to economic growth. Anguillan officials have put
substantial effort into developing the offshore financial sector,
which is small, but growing. In the medium term, prospects for the
economy will depend largely on the tourism sector and, therefore, on
revived income growth in the industrialized nations as well as on
favorable weather conditions.

Antarctica
Fishing off the coast and tourism, both based abroad,
account for the limited economic activity. Antarctic fisheries in
2000-01 (1 July-30 June) reported landing 112,934 metric tons.
Unregulated fishing, particularly of Patagonian toothfish, is a
serious problem. The Convention on the Conservation of Antarctic
Marine Living Resources determines the recommended catch limits for
marine species. A total of 13,571 tourists visited in the 2002-03
antarctic summer, up from the 11,588 visitors the previous year.
Nearly all of them were passengers on commercial (nongovernmental)
ships and several yachts that make trips during the summer. Most
tourist trips last approximately two weeks.

Antigua and Barbuda
Tourism continues to dominate the economy,
accounting for more than half of GDP. Weak tourist arrival numbers
since early 2000 have slowed the economy, however, and pressed the
government into a tight fiscal corner. The dual-island nation's
agricultural production is focused on the domestic market and
constrained by a limited water supply and a labor shortage stemming
from the lure of higher wages in tourism and construction.
Manufacturing comprises enclave-type assembly for export with major
products being bedding, handicrafts, and electronic components.
Prospects for economic growth in the medium term will continue to
depend on income growth in the industrialized world, especially in
the US, which accounts for slightly more than one-third of tourist
arrivals.

Arctic Ocean
Economic activity is limited to the exploitation of
natural resources, including petroleum, natural gas, fish, and seals.