Tuesday 27 October 2020

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Global natural resource value leading countries 2019

Published by M. Garside, Sep 21, 2020
 As of 2019, Russia had natural resources amounting to an estimated total value of 75 trillion U.S. dollars. This figure includes the value of Russia’s many valuable natural resources, which includes coal, oil, natural gas, gold, timber, and rare earth metals, among others.

Natural Resources

Natural resources can be defined as resources that occur naturally and exist independently from the actions of humans. They are commonly categorized in biotic and abiotic resources, where biotic refers to living and organic materials (such as plants), and abiotic resources to refers to non-living materials (such as minerals). Furthermore, natural resources can be divided into the categories of renewable and non-renewable. Renewable resources such as wind, sunlight, and forests are not permanently depleted when we consume or utilize them. Conversely, non-renewable resources are available in finite quantities and can be permanently depleted because of this. Among the most prominently known non-renewable resources on Earth are fossil fuels such as coal, natural gas, and petroleum, usually exploited by humankind to generate energy.

Natural resources and sustainability

The value of natural resources is often determined by their scarcity and their value for our modern economies. In our consumption-oriented, globalized world, industries need to balance meeting consumer demands and guaranteeing business growth while not over-exploiting and consequently depleting the natural resources of our planet. With natural resources having such high economic value and demand, in addition to the fact that many countries in the world have heavily resource-based economies, socially, environmentally, and economically sustainable management of these resources is often an afterthought, if its considered at all.

Natural resources in the United States

With a total natural resource value of 45 trillion U.S. dollars, the U.S. is the second leading country worldwide based on natural resource value after Russia. The among the main contributors to the United States’ natural resource value are coal, timber, natural gas, gold, and copper. These industries have strong historic significance for the United States. The U.S. lumber industry, for example, originated during the colonial era, when importing timber from the United States saved people in the U.K. from cold winters. Nowadays, U.S. timber is mostly used for the production of pulp and paper, as well as furniture. The U.S. also has the largest proven coal reserves worldwide as of 2019. That year, the U.S. also accounted for 8.5 percent of global coal production, which made the country the third-largest coal producer in the world.

Leading countries worldwide based on natural resource value as of 2019(in trillion U.S. dollars)

Country (main natural resources)Value in trillion U.S. dollars
Russia (coal, natural gas, oil, gold, timber, rare earth metals)75
United States (coal, timber, natural gas, gold, copper)45
Saudi Arabia (oil, timber)34.4
Canada (oil, uranium, timber, natural gas, phosphate)33.2
Iran (oil, natural gas)27.3
China (coal, rare earth metals, timber)23
Brazil (gold, uranium, iron, timber, oil)21.8
Australia (coal, timber, copper, iron ore, gold, uranium)19.9
Iraq (oil, phosphate rock)15.9
Venezuela (iron, natural gas, oil)14.3
Showing entries 1 to 10 (10 entries in total)

© Statista 2020
Statistics on "Mining - Overview"
Statistics on "Mining - Major commodities"
Statistics on "Mining - Financials"
Statistics on "Mining - Leading companies"
Statistics on "Mining - Mergers and acquisitions"
Statistics on "Mining - Outlook"
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