Iraq Is Among The Top 10 Countries In The World In Terms Of Natural Resources.

Money and Business   Economy News – Baghdad   Iraq ranked ninth globally among the best natural resources, according to Visual Capitalist, a company that focuses on topics including markets, technology, and energy.

In a report seen by Shafaq News Agency, the company stated that natural resources form the backbone of modern manufacturing and are essential to the production of everything around us.

She added that 10 countries, including Iraq, dominate the global natural resources landscape, each holding vast reserves important for various industries.

The report indicated that Iraq ranked ninth among the world's countries in terms of the availability of natural resources, estimated at $16 trillion, which include oil and phosphate rocks.

Globally, according to the company, Russia leads the world in natural resources, with an estimated value of $75 trillion, including coal, natural gas, oil, gold, timber, and rare earth minerals. The United States is second, with a value of $45 trillion, including coal, timber, natural gas, gold, and copper.

She continued, "Saudi Arabia came in third with a value of $34 trillion, which includes oil and timber, followed by Canada in fourth place with a value of $33 trillion, which includes oil, uranium, timber, natural gas, and phosphates, followed by Iran in fifth place with a value of $27 trillion, which includes oil and natural gas."

The company noted in its report that China came in sixth place with a value of $23 trillion, which includes coal, rare earth minerals, and timber. Brazil came in seventh place with a value of $22 trillion, which includes gold, uranium, iron, timber, and oil.

She continued, "Australia came in eighth place with a value of $20 trillion, which includes coal, timber, copper, iron ore, gold, and uranium. Iraq came in ninth place, and Venezuela came in tenth place with a value of $14 trillion, which includes iron, natural gas, and oil."

Iraq was ranked among the top ten countries with the most valuable natural resource reserves, in terms of the total estimated value over the past four years.

According to a 2024 Statista report, natural resources are the raw inputs used to make everything we use, from intermediate goods to final products. These resources are found in the ground among reserves that have not yet been extracted.

According to Statista estimates, Russia ranked first, with its natural resource reserves estimated at $75 trillion. This amount includes coal, oil, natural gas, gold, timber, and rare earth minerals.

The United States came in second, with an estimated value of $45 trillion in natural resources, nearly 90% of which is timber and coal.

Iraq ranked ninth, boasting $15.9 trillion in natural resources. Its desert terrain contains oil, natural gas, phosphates, and sulfur, according to the website.

Iraq is OPEC's second-largest producer of crude oil and the world's fifth-largest producer of proven crude oil reserves. Iraq relies on crude oil exports for a significant portion of its revenue.  https://economy-news.net/content.php?id=56300