Iraq is the second Arab country and the ninth in the world in terms of natural resources
Iraq is the second Arab country and the ninth in the world in terms of natural resources
2024-12-12 02:26
Shafaq News/ Iraq ranked ninth globally and second in the Arab world as the country with the most natural resources, according to the Canadian Visual Capitalist index, which specializes in various economic statistics, and the German company Statista, which specializes in market and consumer data.
Natural resources are the backbone of the economy of many countries, as these riches of minerals, oil and gas constitute an important pillar for enhancing revenues and supporting local industry, in addition to attracting foreign investments and creating wide-ranging job opportunities.
Resources usually play a role in determining a country’s position in the global economy, as they can represent a source of political and economic power for a country if they are exploited sustainably to provide a return to the country.
Russia tops the list of countries with the largest natural resource holdings in the world, led by its large reserves of oil, coal, natural gas and rare earth minerals, while the United States ranked second in coal, timber, natural gas, copper and gold.
While Saudi Arabia came third globally and first in the Arab world as the country with the largest natural resources of oil and natural gas, Iraq came ninth globally and second in the Arab world in oil and phosphate.
Despite the huge resources these countries possess, wealth management remains a crucial factor in achieving sustainability and real development in the future.
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