Natural resources are raw materials used to make all the products in the world. They grow or form spontaneously without human interference. These resources can be renewable (wing and solar power, biofuel, etc.) or nonrenewable (gold, silver, fossil fuels, etc.), with the latter one having a limited supply.
Natural resources are very important and provide income and revenue for the countries where they are found and extracted. There is a strong relationship between the economy and natural resources – as the world economy increases, demand for commodities rises as well.
Below you can find a list of which country has the most natural resources and which are those resources.
Value
The value and rarity of an element doesn’t necessarily directly correlate with the amount of the element found on Earth. An element can have a low quantity in the Earth’s crust which makes it scarce, but it can also be evenly spread across the globe which gives it a medium supply risk ranking.
Subsequently, an element that is not very scarce in the Earth’s crust can be considered rare when large producers decide to reduce exports, creating a scarcity on the market.
The top five countries with the most natural resources are China, Saudi Arabia, Canada, India, and Russia.
Russia
Russia has the biggest mining industry in the world that produces fossil fuels, industrial minerals, and metals. It is the biggest producer of aluminum, arsenic, limestone, marl, copper, magnesium, nitrogen, and other solids such as palladium, silicon, and vanadium.
The country’s total estimated natural resources are worth over $75 trillion.
India
India’s mining industry carries 11% of the country’s GDP and 2.5% of total gross domestic product. Its coal resources and reserves are the 4th largest in the world. Some of its other natural resources include oil, natural gas, metallic minerals such as copper, zinc, iron ore and non-metallic elements such as garnets, calcium and sillimanites.
India also provides over 12% of the world’s thorium, over 60% of the world’s mica production, and is the main producer of manganese ore.
Canada
This large country has an estimated $33.2 trillion worth of goods and the 3rd largest oil deposits. Canada’s natural resources include industrial minerals like rock salt and gypsum, energy minerals such as coal and uranium, and metals like copper, lead, gold, platinum, and silver. It is the main supplier of natural gas and phosphate and the 3rd biggest exporter of timber.
Saudi Arabia
This small country has about $34.4 trillion worth of natural resources – primarily oil. Saudi Arabia has been the main exporter of oil ever since it was discovered in 1938. With 20% of the global reserves, the country’s economy heavily relies on its oil exports. Alongside with oil, it also has the 6th largest natural gas resources and reserves. The nation’s other natural resources include precious and basic minerals such as copper, gold, silver, zinc, feldspar, phosphate, tungsten and iron.
China
China has the most natural resources estimated to a staggering $23 trillion. 90% of the country’s resources consist of coal and rare earth metals. Another sizable natural resource found in China is timber while other resources include antimony, aluminum, coal, gold, graphite, iron, steel, lead, bismuth, tin, tungsten, and zinc. China is also the world’s 2nd largest producer of bauxite, copper, manganese, cobalt, and silver. This impressive country also has chromium and gem diamond.
(1) Anthony, Craig. “Which 10 Countries Have the Most Natural Resources?” Investopedia, Investopedia, 22 July 2020, www.investopedia.com/articles/markets-economy/090516/10-countries-most-natural-resources.asp, Accessed on 8/4/2020.