Top 10 Countries With the Most Natural Resources in the World
Natural resources can be well described as mineral reserves and land-based fuels that a country naturally has. Although natural resources are present in many different forms of natural reserves, the high demand for fuels also makes them the backbone of each country’s economy. Therefore, the countries that have most of these natural reservoirs have the most flourishing economies in the world. In this selection are highlighted the 10 countries with more natural resources of the world.
Venezuela stands out here because of its total reserves of $ 14.3 trillion. Due to its natural gas reserves, this country is tenth position in this selection. These reserves share the 2.7% of the global oil supply. This country is the sixth largest in the world in relation to oil reserves which has estimated a total of 99 billion barrels, representing 7.4% of the total global supply.
Like other Gulf states, Iraq‘s main assets are oil deposits that are measured at up to 115 billion barrels. These deposits share approximately 9% of the world’s total reserves. Iraq is also a country with vast deposits of phosphate rock on the planet, estimated to be $ 1.1 trillion.
Australia being a self-sufficient state gets most of its wealth from its huge reserves of coal, copper, wood and iron. The country has an ample supply of gold, contributing to 14.3% of the global supply. And it is also responsible for supplying 46% of uranium worldwide. It has an enormous and vast reservoir of natural gas, present in the sea, dividing some of them with Indonesia.
Brazil is one of the countries that has a considerable proportion of gold and uranium reservoirs. It is the second country that produces the most iron. The most valuable natural resource is wood. And provides nearly 12.3% of the world’s timber worth $ 17.45 trillion. The total cost of all natural resources the country holds is nearly $ 21.8 trillion.
The country has total reserves worth $ 23 trillion. This country is highly rich in coal, and land minerals. Total coal deposits in China cover 13% of the world’s total coal reserves. The newly discovered shale gas reservoirs in the country will add to revenue generation for the nation.
Being in the same region, Iran divides the richest gas area reserves with Qatar. Therefore, the total amount of natural resources is worth almost $ 27.3 trillion. The country has 16% of the world’s natural gas deposits. And it resides on the great dome of gas reservoirs of the Persian Gulf. Nearly 136.2 billion barrels of reserves are currently present in the country, more than 10% of the world’s total oil.
$ 33.2 trillion is the total cost of the country’s natural resource reserves. Total oil sands deposits have led Canada to excel in this selection. The latest statistics show that the country has 178.1 billion barrels, representing 17.8% of the total oil reserves, the highest after Saudi Arabia. Canada also has large phosphate reserves and has the second largest uranium deposits and has the third highest rate of wood production.
3. SAUDI ARABIA
The crown of the Middle Eastern states and heart of the Muslim world, Saudi Arabia stands out here, since it has natural resources and reserves that are worth up to $ 34.4 trillion. Almost 20% of the total oil in the world comes from the land of the Arabs. Hydrocarbons, including oil and gas, are the main sources of power generation in the country. Currently, the Arab state is termed as the country with the fifth largest amount of proven natural gas reservoirs.
The total cost of natural resources equals approximately $ 45 trillion. And 31.2% of Earth’s coal reservoirs are under U.S. soil. Timber and coal deposits account for 89% of the country’s resources. And this nation is among the 4 states that are rich in reserves of gold, copper and natural gas. The United States of America is also blessed with 750 million acres of land covered with forests, accounting for the production of large quantities of timber.
Russia has the largest share of natural resources in the world. Due to its vast size, it covers most of the reservoirs of coal, wood and gold. The second largest coal deposit is found in Russia, while it has the third largest gold reservoir in the world. And it also has the world’s second largest mineral deposit. The total amount of natural resources found in Russia is estimated to be worth $ 75.5 trillion.