Charted: $5 Trillion in Global Commodity Exports by Sector
The global commodity trade is dominated by a few key sectors and commodities. Energy, particularly petroleum products, accounts for the largest share of exports, contributing to a total value of $2 trillion annually.
The global commodity trade is dominated by a few key sectors and commodities. Energy, particularly petroleum products, accounts for the largest share of exports, contributing to a total value of $2 trillion annually. Agriculture and minerals follow closely behind, each contributing around $1.9 trillion and $1.4 trillion, respectively.
Breakdown of Top Commodities:
- Petroleum Products: The most valuable commodity, representing 30% of total exports.
- Crop Products & Forestry: Includes wheat, wood, and other agricultural products.
- Base Metals & Other Minerals: Includes copper, iron, aluminum, and precious metals like gold and silver.
- Precious Stones & Metals: Includes diamonds and other precious stones.
- Natural Gas, Coal, Electricity: Additional energy commodities contributing to the sector's dominance.
Concentration and Economic Implications:
The commodity trade is concentrated in a few countries, which can lead to economic challenges for those heavily reliant on exports. A decline in international prices for these commodities can negatively impact financial stability and public spending in these regions.
Source: Visual Capitalist
