Its expanding financial, service, communications, technology, entertainment and manufacturing sectors has pushed its economic growth significantly.
The country has a low debt-to-GDP ratio of approximately 16%. The petroleum sector plays an important role and is heavily relied upon; however, it is becoming a smaller part of the country’s overall economy as the agriculture, telecommunications and services sectors have started to emerge.
Poverty and inadequate infrastructure and inefficient social systems remain a huge challenge for the country, however the government is working to develop stronger public-private partnerships for roads, agriculture and power.
Up to 95% of the country’s exports are petroleum and petroleum products.