23 Oct 2019 Below is a list of the top 10 oil-exporting countries based on data for all of Iraq, Canada, United Arab Emirates, Kuwait, Iran, the United States, economic diversification in oil-exporting Arab countries.1,2,3 The paper is organized in two parts. The first part lays out the stylized facts on oil-exporting Arab countries as well as the motivation for economic diversification. It underlines the heterogeneity in conditions across oil-exporting Arab countries face similar challenges to create jobs and foster more inclusive growth. The current environment of likely durable low oil prices has exacerbated these challenges. The non-oil private sector remains relatively small and, consequently, has been only a limited source of growth and employment. Because oil is an exhaustible resource, new sectors need to be developed so they can take over