The Economy of the Middle East is very diverse. Composed of the nations such as Bahrain, Cyprus, Egypt, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Oman, Syria, Palestinian, Qatar, Saudi Arabia, Turkey, United Arab Emirates, and Yemen. The individual economies range from hydrocarbon exporting rentier economies to government led economies to free market economies. Middle East nations are mostly known for their oil reserves. Collectively the region is best known for producing and exporting oil. Some Middle East nations (like Saudi Arabia, Kuwait and UAE) have economies that are highly dependent on export of oil and oil-related commodities. Whereas nations like Egypt possess a diverse economic base. Main industries here include oil, tourism, banking, agriculture, defense equipments, surgical instruments, dairy, leather products to name a few.
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