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By H. Robert Ensminger

The Belizean economy registered a modest real growth of 1.3% during 1981. The gross domestic product (GDP), based on current prim was $121 million' with an inflation-rate of 10%. The country received $19 million in economic aid during 1981. In early 1981, Belize'e four commercial banks raised the interest on deposits to 15% in an effort to curb capital outflow. During 1981, the financial situation deteriorated somewhat, particularly the balance of payments. For the year the total value of imports exceeded exports by almost $38 million, while the Government continued to maintain a fairly free trade policy. Import duties and term averaged about 8% on essential item and 40% on nonessential ones.

Jan 1, 1983

By Nicholas G. Theofilos

The only mining activity in Belize during 1976 involved the production of construction aggregates, which were used domestically. A comprehensive ordinance regulating mineral prospecting and mining was proposed during the year. Under the ordinance, which would supersede all grants and titles, ownership and control of all minerals except petroleum would be vested in the Government. Exxon Corp. entered into an agreement with three oil companies to achieve a majority interest in nine oil prospecting leases covering 1 million acres, mostly offshore Belize. The agreement was with Weatherford International Inc. which had 30% interest in the leases, Ajax Petroleum Co. with 40% interest, and Canadian Superior Oil Ltd, with 24% interest. A new entity, Esso Ventures Inc., was established to be responsible for conducting extensive geophysical operations and drilling an exploratory well offshore Belize.

Jan 1, 1980

By J. P. Messervey

THE story of the efforts made by the Department of Mines of Nova Scotia in the search for and investigation of mineral resources for the Canadian war effort began in the spring of 1937. During the past five years, however, heavy enlistments in the Active Service Forces by employees of the mining industry of the Province caused a recession in the production of coal, salt, and other essential minerals required to keep industry rolling on a wartime basis. A marked increase was shown during the period in prospecting for 'strategic' minerals, not only by individuals but also by some of the foremost mining companies. The Provincial Government offered encouragement in this field of endeavour by the enactment of legislation whereby the prospector was enabled to secure the maximum area of ground in a prospecting license at a minimum of cost. The labour requirements on the ground staked, however, remained unchanged. The Nova Scotia Department of Mines continued active investigation of minerals vital to the war effort. These included fluorspar, barytes, diatomite, limestone, and coal. Fundamental knowledge concerning the geology and mode of occurrence of these minerals was accumulated and extensive diamond drilling was carried out on the promising occurrences. Work in these fields is being continued.

Jan 1, 1945

By D. H. Stonehouse

"ALTHOUGH final statistics are not yet available concerning Nova Scotia' s mineral production for 1958, it is estimated that the value will be slightly lower than that of 1957. In making this statement it is but fair to say that one year ago a reduction in mineral value was also forecast (for 1957 as compared with 1956) and final figures from the Dominion Bureau of Statistics ($68,058,743) indicated, instead, an increase of $2,000,000 over 1956. However, 1958 did bring problems to the industry which would indicate a drop in production value. The estimates figure for 1958 is $64,000,000. COAL Coal production came from 28 mines, 5 less than were operating since 1957. There were 5,269,896 tons of coal produced by 1,978,512 man-days' labour, for a tons per man-shift of 2.66 (0.05 higher than during 1957) or an increase of 1.9 per cent over the 1957 all-time high for this Province. This record has been established as a result of concentrated efforts to mechanize the coal mines of the Province, and it is hoped that it will be bettered during 1959. Collieries which showed some production for 1957 and none for 1958 were the McGregor at Stellarton, the Franklin at Sydney Mines, the MacLellan, the Rose bank No. 2 and the Rose bank No. 3 at Inverness."

Jan 1, 1959

The mineral industry of Benin contributed less than 1% of the 1977 gross domestic product (GDP), which was estimated at $500 million.' Other than limestone and salt, no exploitable mineral deposits have yet been discovered in Benin, which has been rated by the United Nations as one of the world's least developed nations. In 1977, the economy was further weakened by petroleum price increases and severe drought. The country continued to depend on foreign assistance, which averaged $20 million per year, to finance development projects. The country's first 3-year plan, which was put into operation in October 1977 after many delays, allocated more than $1 billion to projects in infrastructure, agriculture, and light industry. The most important infrastructure project was the expansion and modernization of the port of Cotonou, valued as an entrepôt port for the transit of goods to the neighboring countries of Niger and Nigeria. Plans called for an increase in handling capacity to 1 million tons of cargo annually, the improvement of port and cargo handling operations, and the upgrading of the efficiency of the Port Autonome de Cotonou (PAC) management system. The $46 million project was to be financed by a consortium led by the International Bank for Reconstruction and Development (IBRD) and including Canada, France, Nigeria, and Abu Dhabi. Construction was scheduled to begin in 1978 and be completed in 1980.

Jan 1, 1981

By Candice Stevens

The Territory of Afars and Issas is to receive its independence from France on June 27, 1977. The Territory's economic income was based on entrepôt trade through the port of Djibouti and trans-shipment of goods on the Chemin de Fer Franco-Ethiopian (CFE) railroad. The Territorial budget was scheduled to in- crease from $32.6 million3 in 1976 to $36 million in 1977, despite severe shortfalls in 1976 stemming from inflation and a persistent balance-of-trade deficit. Subsidies from France continued to sustain the economy, and the French pledged to provide approximately $140 million in aid annually after independence. In 1976, financial agreements were concluded with a number of Arab oil-producing countries, including Saudi Arabia which granted $10 million toward development projects. The new Republic of Djibouti is scheduled to become the 49th member State of the Organization of African Unity (OAU) and the 21st member of the Arab League, and to receive aid from their financial institutions. The port of Djibouti and the CFE railroad constituted the Territory's main economic resources. Traffic at the port greatly

Jan 1, 1980

By Travis Q. Lyday

During 1983, Ecuador's gross domestic product (GDP) decreased by a reported 3.3% in real terms, the second consecutive decline in the economy after more than a decade of growth generated mainly by petroleum export revenues. The slowdown was due, in part, to the effects of the world recession, lower foreign demand for oil, depressed world oil prices, and reduced demand and prices for Ecuador's traditional agricultural exports. Inflation accelerated to an estimated 55% annual rate. The sucre was devalued in March, for the second time in less than a 12-month period, by 27% after remaining unchanged during the previous decade. In addition, continuous adjustments were made every weekday, effectively devaluing the sucre another 30% by yearend. Ecuador's production of crude petroleum increased almost 12% in 1983 compared with that of 1982. Average daily production was 237,100 barrels per day (bbl/d), up from 211,300 bbl/d in 1982.

Jan 1, 1985

Ecuador a gross domestic product (GDP) grew 8% despite a slowdown in production and sales of petroleum, the dominant economic sector. Crude petroleum exports, which amounted to about 35% of total exports in 1977, were valued et $484 million,2 a decrease of 14% from 1976 values. Petroleum export sales were depressed because foreign buyers were somewhat uncertain that State-owned Corporación Estatal Petrólera Ecuatoriana (CEPE) held legal title to the oil until final settlement with Ecuadorian Gulf Oil Corp. In addition to the legal complication, Ecuador maintained a relatively high export price for oil until late in the year. There was also a shrinkage of traditional U.S, markets owing to the Alaskan pipeline becoming operational and an increased availability of Mexican supplies. The export market was also affected by increased domestic production in Peru and Chile, which lessened their import needs, and the pressure of greater competition from the Middle East in supplying crude oil to Caribbean refineries. About 20.4 million barrels or 40% of Ecuador's total crude exports went to the United States. Only 27 wells were drilled in Ecuador during L977; of these, 16 produced oil, 3 were dry holes, and 8 were suspended. About 31 wells were planned for 1978. Three new oilfields were discovered during 1977; two by CEPE in northeastern Ecuador and one by the Argentine State oil company Yacimientos Petraliferos Fiscales (YPF), operating in Ecuador under a service contract. CEPE's two discoveries tested at 5,000 and 1.450 barrels per day, respectively. The YPF discovery tested at about 1,000 barrels per day. Ecuador altered its position regarding

Jan 1, 1981

By Travis Q. Lyday

During 1981, Ecuador's gross domestic product (GDP) increased by a reported 4.8% in real terms, a slight improvement over that of 1980. In current prices, the CDP in 1981 was estimated at $13.7 billion.2 The inflation rate increased to 15.6% according to official figures, above that of 1980. Ecuador's production of petroleum increased 3% in 1981 compared with that of 1980. The consortium of Corporación Estat al Petrolera Ecuatoriana (CEPE), the state oil company, and Texaco, Inc., produced almost 98% of the total from their Putumayo Basin operations in Oriente, the eastern jungle region. In sharp contrast, output from the Santa Elena Peninsula Fields, where oil was first produced commercially in 1921, continued to decline, producing only 510,000 barrels, a decrease of almost 8% compared with that of 1980.

Jan 1, 1983

By Pablo Velasco

After becoming an oil exporter in 1972, Ecuador experienced a remarkable economic upswing until 1978. However, in 1979 and 1980, a combination of only slight improvements in agricultural output and stagnating petroleum output lowered rates of real gross domestic product (GDP) expansion to 5.3% and 4.3%, respectively. In current prices, the GDP in 1980 was estimated at $11.3 billion.2 The slowdown in growth is attributable in large part to the low level of petroleum exploration in the 1972-79 period. Ecuador's production of petroleum declined 4.5% in 1980 compared with that of 1979. The consortium of Corporación Eatetal Petrolera Ecuatoriana (CEPS), the State oil company, and Texaco, Inc., operating in Ecuador's eastern jungle region was responsible for nearly all of 1980 production, The volume of total crude petroleum exports from Ecuador dropped from 44.7 million barrels in 1979 to 40 million barrels in 1980, although crude petroleum export revenues rose from $1,032 million in 1979 to $1,294 million in 1980- The latter figure represented 54% of Ecuador's 1980 merchandise exports. Crude oil exports accounted far about 46% of the value of 1979 merchandise exports. The total nonfuel mineral exports in 1980 were valued at less than $1 million.

Jan 1, 1982

By E. Chin

The domination of Bangladesh's mineral industry by natural gas was in for some possibly significant changes. A modest flow of crude oil was struck in a gas development well in the northeastern corner of the country. This was the first commercial flow of crude oil in Bangladesh. All crude oil was being imported, which cost a significant proportion of the nation's foreign exchange earnings. The development of an oilfield producing only a few thousand barrels per day would be a welcome help to the economy. Additional exploration at a 1985 coal discovery in the northwest indicated a considerable reserve of good-quality coal at a depth suitable for mining. If the coal is mined, it would be a boon to the local economy because natural gas was not available in the area.

Jan 1, 1988

Mineral production was of little significance in the country's economy, and Bangladesh was not a world-ranked producer of any mineral commodity during 1977. Natural gas was the most important mineral exploited; however, reserves were sufficient to allow for much greater production, Economically, Bangladesh made some progress in 1977-782 in its struggle against poverty, underdevelopment, and rapidly increasing population. The gross domestic product (GDP) grew 8%, mainly owing to a 13% increase in food grain production, the key economic indicator in this highly agricultural nation. GDP at current prices dropped slightly in Fiscal Year (FY) 1976.77 to $6.6 billion3 and rose to $7.2 billion in FY 1977.78. The population rose from 81 million in FY 1975-76 to about 85 million in FY 1977-78, resulting in an increase of per capita GDP from $83 to $85 during the same period. The high annual population growth rate, over 3% in 1976 and about 2.8% in 1977, was recognized by the Government as the main problem facing the country. Average density was 525 people per square kilometer. A similar density would have the entire world population living within the continental United States.

Jan 1, 1981

By E. Chin

The mineral industry of Bangladesh was totally dominated by natural gas production and its downstream uses. A small amount of cement was produced, and clays were used locally for ceramics and construction materials. Nitrogenous fertilizer was produced from natural gas and a modest, scrap-based steel industry produced steel for local consumption. The country has been developing and using its abundant and inexpensive gas reserves as fast as practical. The population, however, was predominantly dependent on agriculture for its livelihood. The industrial sector accounted for 10% of the economy, and most of the industrial output was directly associated with agricultural products jute, tobacco, and textiles. Industrial expansion, even with the availability of gas, was severely constrained because of limited domestic demand, lack of skilled work force and management, poor infrastructure, and a low rate of domestic savings. To put greater emphasis on the industrial sector, the Government established a National Committee for Industrial Development in July. The Committee instituted policy reforms in the areas of trade and investment. One important step was to move from a positive import list to a negative list, thereby permitting imports of items not restricted or banned. The system for recovering and approving new domestic or foreign industrial investments was streamlined to expedite what had become a cumbersome, bureaucratic exercise. To encourage industrial development in areas away from the crowded urban centers, several economic incentives reportedly were adopted. These included a reduced tax rate on imported machinery, exemption of import license fees, a reasonable debt equity rate, and a 9-year income tax exemption period.2 In the trade sector, imports increased 12% in fiscal year (FY) 19843 mainly

Jan 1, 1987

By Gordon L. Kinney

The only economically important mineral currently produced in Bangladesh was natural gas. Bangladesh was not a world? ranked producer of any mineral commodity, but the possibility of producing and exporting commercial amounts of liquefied natural gas (LNG) was being examined. Proved reserves of natural gas were sufficient to supply most of the country's industrial and domestic heating and electric needs and still support an export-oriented LNG plant. Other mineral production was of virtually no significance to the economy, although there were a few prospects for nonmetallic mineral development. Bangladesh continued to make economic progress during 1978 and into early 1979. Gross domestic product (GDP) at current prices rose from $6.6 billion in 1976-772 to $8.2 billion in 1977?78 and $9.3 billion in 1978.79.2 In fiscal 1979, the economic conditions were favorable until a severe drought hit most of the country. It W88 reported that conditions were the worst in 40 years, and 88 of July 1979, substantial crop losses were predicted. The agricultural sector accounts for over 53% of the GDP and about 75% of all employment. The poor weather will cause economic problems in the form of slower growth, larger trade deficits, and a higher rate of inflation. The 1978.79 statistics showed that real GDP increased just 4%.

Jan 1, 1981

By E. Chin

Natural gas was Bangladesh's only significant exploited mineral. A few other minerals or mineral-based commodities were produced for local consumption. The most valuable were nitrogen fertilizer, salt, cement, and clay for brick.2 The most important mineral industry development of 1987 was the start of modest production of crude oil, the first discovered and produced in the country. PRODUCTION AND TIADE Production of natural gas from the nation's huge reserves continued to increase but was limited by the lack of residential and industrial demand. Gas reserves of 7 trillion to 16 trillion cubic feet were sufficient for far more production than the country could efficiently utilize for many years. The country's consumption-to-reserves ratio was one of the lowest of the developing nations. Mineral exports have been insignificant, comprising a small amount of nitrogen fertilizer. Nitrogenous fertilizer exports could become important when planned new capacity comes on-stream. Mineral imports were dominated by crude petroleum.

Jan 1, 1989

By Edmond Chin

Mineral production was of minor importance to the country's economy, and Bangladesh was not a ranking world producer of any mineral commodity in 1980. Natural gas was the most important mineral exploited, and reserves were sufficient to allow a significant increase in its use. A greater proportion of the domestic heat and electrical energy needs could be filled by increased production and distribution of natural gas. Also, the export of natural gas was feasible either by pipeline to India or in the form of liquefied natural gas (LNG). Some nonmetallic minerals could be developed, as well as coal and peat, given sufficient capital investment. Bangladesh's strongly agricultural economy made fair progress in 1979.80.1 The major harvest of November-December 1979 turned out to be better than had been anticipated after an early drought left poor planting conditions. Secondary crops (harvested in February-March 1980 and June- July 1980) were excellent. There were prospects for a record harvest in fiscal year

Jan 1, 1982

By E. Chin

The only economically significant mineral exploited in Banglades - during 1981 was natural gas. Nitrogenous fertilizer production was important to the agricultural sector and was totally dependent on the natural gas for fuel and raw material. Domestic cement plants were also fu pled by natural gas. The flat river-delta terrain for most of Bangladesh makes the potential for discovering major mineral deposits poor. No large deposits of metal ores have been found and only in the small hilly southeastern section of the country is there even much chance of finding any. Heavy mineral sand deposits may eventually be exploited along the Chittagong coastline. There is a good potential for crude oil discoveries. The Bangladesh economy has been heavi¬ly subsidized by billions of dollars of foreign aid since the country's inception. A World Bank report recommended total aid needs of over $2.6 billion in fiscal year (FY) 1980-81. It received commitments for barely over one-half that amount.

Jan 1, 1983

By George A. Morgan

The successful expansion of crude oil production begun in late 1977, led to promising development of the nonfuel minerals sector. Although actual production of nonfuel minerals was limited both in variety and in percentage of output on a world scale, the potential for expansion with a rapidly developing infrastructure was significant. The energy base was expanding with construction of two new hydroelectric powerplants in addition to the existing plant near Edea. The Song Loulou plant will have a 240-megawatt capacity, and a hydroelectric plant under construction in the northern part of the country by mainland China will have 72 megawatts of installed capacity. Inflation of between 15% and 20% resulted in a real gross domestic product (GDP) of $2.8 billion2 in fiscal year 1980 (July 31 to June 1), up 6% from that of the previous fiscal year. Petroleum became the leading export item in terms of value, surpassing coffee and cocoa exports. Mineral exports as a whole increased eightfold in value, mainly because of oil sales. Oil exports also caused a reduction in the trade deficit by nearly one-third, and the Government expected its 1980-81 budget to be balanced at $1.17 billion. The Port of Douala accounted for about 8 million tons of cargo, or 93% of total maritime traffic for Cameroon. Expansion plans for the port call for an initial increase to 5 million tons, and a cargo handling capacity of 7.5 million tons in 1985 and 10 million tons by 1990. The Port of Victoria will gain importance with the startup of an oil refinery. The country's third seaport at Kribi was used solely for timber shipments, and capacity at the Port was to triple by 1981. The Government operated its own shipping line with six oceangoing freighters. France was the dominant trading partner, accounting for 25%

Jan 1, 1982

By Thomas O. Glover

Cameroon continued to enjoy sustained economic growth that began with its independence in 1960. Growth in the gross domestic product (GDP) averaged 2.8% per year during the 1960's and the first half of the 1970's. Starting in 1976 and for the succeeding 10 years, the GDP accelerated rapidly owing to the coming on-stream of Cameroon's small but domestically significant offshore oil industry. In 1985, the GDP grew by 7.8%, but in 1986, it was only up 5.5%. The country's sustained economic growth in dollar terms of gross national product (GNP) per capita reached $1,075 in 1986. The ranking in GNP per capita by the International Monetary Fund put Cameroon in the middle-income category for developing countries. The sustained economic growth rate up to 1986 was due to the injection of income from oil into the economy, but crude oil price reductions in 1986 brought a slowdown. In 1986, crude oil production grew to 200,000 barrels per day, an increase of 8.2% from that of 1985. Most of the oil came from the Société Nationale Elf Aquitaine (SNEA) wells in the multifield Rio del Rey complex. Additional output came from the Moudi Field operated by Compagnie Française des Pétroles S.A. Proven oil reserves in Cameroon were 540 million barrels. At 1986 production rates, and in the absence of further discoveries, Cameroon will have exhausted its recoverable oil reserves by the year 1995. Owing to worldwide crude price reductions, the country's oil income fell 60% between 1985 and 1986, from $1.82 billion2 to $0.72 billion. Cameroon's refinery operator commenced operating the Sonara refinery in 1981 at Point Limboh. Sonara's capacity of 43,000 barrels per day was small by most standards. In 1986, natural gas reserves, estimated at 100 billion cubic meters, were not produced commercially because there were no domestic users. Proposals for a multibillion-dollar liquefied natural gas plant at Kribi had been submitted; however, work on the plant had not commenced.

Jan 1, 1988

By Thomas O. Glover

Cameroon's mineral industry continued to be dominated by crude petroleum. The country's economic development depended on the production and export of crude oil. Oil output was estimated to be 56 million barrels in 1984 compared with 47 million barrels in 1983 and 39 million barrels in 1982. The country's only refinery processed approximately 16,000 barrels per day of crude oil in 1984, operating at slightly over 50% capacity. This volume, however, supplied the domestic need for motor fuel and heating oils. Cameroon's economy continued to expand despite problems and setbacks stemming from the attempted coup of April 6, 1984. Gross domestic product (GDP) growth in 1984 was 6.5%, the same rate as in 1983. Offshore crude petroleum production was the chief factor in the sustained economic growth. The country also maintained a relatively strong balance-of-payments position through oil exports. Investment, ranging up to 25% of the GDP, greatly contributed to sustained growth. The oil sector contributed approximately 14% to Cameroon's GDP in both 1983 and 1984.

Jan 1, 1986