This chart, through Visible Capitalist’s Pallavi Rao, categorizes over $5 trillion in international commodity exports by sector and the worth of fabric exported.
Knowledge was averaged between 2019–2021 to signify an annual estimate. Supply figures could be discovered at The State of Commodity Dependence 2023 revealed by UN Commerce & Growth.
Commodity Exports with the Highest Worth
Oil and its merchandise account for 30% of world commodity exports on common, valued at $1.5 trillion yearly.
Figures rounded.
When together with pure gasoline, electrical energy, and coal exports, the power sector contributes 40% to the worth of world commodity export per 12 months ($2 trillion). Agricultural exports ($1.9 trillion) rank second and are larger in worth than mineral exports ($1.4 trillion).
Inside agriculture, crops and forestry has the lion’s share of worth at $1.2 trillion. This class consists of every part from wheat to wooden exports.
In the meantime, the minerals sector is extra equally divided between base metallic exports (like copper, iron, and aluminum) and valuable metals and stones (gold, silver, diamonds).
Not pictured on this graphic is how worldwide the commodity commerce tends to pay attention in just some nations on the exports aspect. For instance, one-fourth of all copper produced in 2023 got here from Chile.
The flip aspect of this implies a few of these main useful resource exporters have a major quantity of commodity dependence. And relatedly, a lot of them are low or center revenue nations. When worldwide costs for the commodity exported decline, the chance of monetary crises and decreased public spending will increase, additional entrenching financial challenges in these areas.
Oil’s export worth carefully mirrors its consumption as a main power supply. Try “What Powered the World in 2023?” to see the world’s power combine.