Which Country Is Rich In Resources?

What are the 5 types of resources?

Natural ResourcesBiotic & Abiotic.

Any life form that lives within nature is a Biotic Resource, like humans, animals, plants, etc.

Renewable & Non-renewable.

Renewable resources are almost all elements of nature which can renew themselves.

Potential, Developed, and Stock Resources..

What is the most valuable natural resource?

OilOil is one of the most valuable natural resources in the world, and one of the most essential to our modern way of life.

Which country has no mineral resources?

SingaporeWith no natural resources and having a very small population among other countries on this list, Singapore proves to the world how a tiny island can become one of the most prosperous nations across the globe.

Which country is richest in mineral resources?

Venezuela. This South American country has an estimated $14.3 trillion worth of natural resources. … The United States. Mining is one of the primary industries in the United States. … Russia. Russia’s total estimated natural resources are worth $75 trillion. … India. … 2: Saudi Arabia.

Which country has the highest resources in the world?

Countries With the Most Natural ResourcesChina. China is one of the leading producers of phosphates, vanadium, tungsten, antimony, graphite, coal, tin, molybdenum, lead, zinc, and gold.Saudi Arabia. Saudi Arabia has over 34.4 trillion worth of commodities with their primary natural resource being oil. … Canada. … India. … Russia. … Brazil. … United States. … Venezuela. … More items…•

What continent has the most natural resources?

AfricaAfrica is the richest continent in the world, in terms of its natural and mineral resources… Africa supplies up to 31 percent of the world’s demand for bauxite, cobalt, gold, manganese, phosphate and uranium.

Is oil a curse?

The political and economic dysfunction known as the “oil curse” is a complex, structural phenomenon, caused largely by poor management or investment of oil revenues by the governments of oil-producing countries.

Which country is the largest producer of iron?

BrazilLeading iron ore producing countries worldwide Australia and Brazil are among the world’s largest iron ore producers and hold a large portion of the world’s iron ore reserves. Australia makes up half of the world’s iron ore exports. Brazil exported around 23 percent of the world’s total iron exports.

Which is richest continent in the world?

List by the International Monetary Fund (2019)RankContinentYearWorld20191Asia20192North America20193Europe20194 more rows

Which continent is the richest?

EuropeEurope is considered to be the wealthiest and richest continent, however, there are poor regions especially in the eastern parts of the continent too! Read more about the European continent here.

What are the resources of a country?

Classical economics recognizes three categories of resources, also referred to as factors of production: land, labor, and capital. Land includes all natural resources and is viewed as both the site of production and the source of raw materials.

Which country has the purest gold?

Gold Jewelry Consumption Q4 2019RankCountryTonnes1India136.62China132.13U.S.34.84UAE11.56 more rows•Oct 28, 2020

What are the 10 natural resources?

Top 10+ Natural Resources in the WorldWater. While the earth may be mostly water, only about 2-1/2 percent of it is freshwater. … Air. Clean air is necessary for the existence of life on this planet. … Coal. Coal is estimated to be able to last less than 200 more years. … Oil. … Natural gas. … Phosphorus. … Bauxite. … Copper.More items…

Who owns Nigeria’s Oil?

Nigerian National Petroleum CorporationTypeState-owned enterpriseHeadquartersAbuja, FCT, NigeriaKey peopleMele Kyari (GMD)ProductsCrude Oil, Gas, petroleum products, petrochemicals,Websitennpcgroup.com3 more rows

What is the role of oil?

Oil: lifeblood of the industrialised nations Oil has become the world’s most important source of energy since the mid-1950s. Its products underpin modern society, mainly supplying energy to power industry, heat homes and provide fuel for vehicles and aeroplanes to carry goods and people all over the world.

What are 20 natural resources?

Natural Resources by CountryBauxite.Coal.Copper.Diamonds.Gold Lead.Iron ore.Mineral sands.Natural gas.More items…

Is India a resource rich country?

India is rich in natural resources. The country produces as many as 87 minerals including fuel, metallic, non-metallic, and atomic minerals. Among the minerals, reserves of coal, iron ore and bauxite are vast and will last decades. … As a result, India had to import 140.63 million tonnes.

Which country is rich in natural resources?

Total natural resources rents (% of GDP) – Country RankingRankCountryValue1Congo42.672Mongolia40.523Libya38.474Iraq37.98119 more rows•Dec 28, 2019