Commodity dependence

More than half of the world's countries were dependent on commodities, according to a study made by the UNCTAD that looked at the level of commodity dependence around the world from 1998 to 2017, using trade data from 189 countries.

It also revealed that there is a strong positive relationship between export diversification and a country's level of development (GDP per capita).

However, only 13% of developed countries -- including Australia, New Zealand and Norway are in this situation.

35 countries in the world have commodities making more than 90% of their exports, with Angola, Iraq, Chad, Guinea-Bissau, and Nigeria surpassing 98%.

[2] According to UNCTAD's State of Commodity Dependence 2021 report, published on September 8, the number of countries that are heavily dependent on commodities has climbed over the past ten years, from 93 in 2008-2009 to 101 in 2018-2019.

World map showing commodity exports as share of merchandise exports percentage according to UNCTAD State of Commodity Dependence Report 2018-2019
Grain export at the Port of Santos . Brazil's trade was commodity-dependent in 2018–19 having been less so in 2008–9. [ 1 ] : 5