The Angolan government is promoting the development of diverse economic sectors in order to expand its economy beyond the narrow hydrocarbons sector Luanda has historically depended on. Hydrocarbons are by far the most significant component of the Angolan economy, responsible for approximately 96 percent of the country's export earnings. But essentially all of Angola's hydrocarbon resources are located offshore. Thus the hydrocarbons sector is akin to an enclave economy, with little contribution to the everyday lives of ordinary Angolans. Luanda's decision to turn to diamonds is deliberate. Diamonds are Angola's second-largest economic sector. Although diamond exports generate only 2 percent of the country's foreign exchange earnings, the strategic potential of diamonds is significant. Angolan diamonds account for an estimated 7 percent of the world's diamond production by volume and 8 percent by value.