Every natural valuable material for humans is a natural resource. Our earth has multiple types of natural resources, such as oil, coal, metal, gas, salt, etc. These resources are renewable and nonrenewable. Renewable natural resources like solar energy, hydropower, etc., aren’t depleted. They can replenish themselves, and their supply remains consistent. Nonrenewable resources are those that are depleted with use and are available in the form of limited reserves on the earth, like crude oil, gas, etc.
These resources are widespread in the world in random proportions. Some countries, such as Saudi Arabia and Russia, have more oil reserves. Meanwhile, Canada, China, Iraq, and other places are famous for their minerals, gold, iron, etc. In this article, learn about the top countries in the world with the most natural resources.
List of Top 10 Countries With the Most Natural Resources
Here is the list of the top 10 countries in the world with the most natural resources:
- Russia
- United States
- Saudi Arabia
- Canada
- China
- Australia
- Brazil
- Venezuela
- Iran
- Iraq
1. Russia
Russia is one of the top destinations in the world because it has a wide range of natural resources, and it accounts for more than 20 % of the world’s total reserves. That is why it is one of the strongest economies in the world, taking advantage of its vast resources, such as metal, iron, oil, gold, diamonds, gas, and uranium. West Siberian, the Caspian Sea area, the Volga-Urals, Timan-Pechora, etc., are key locations in Russia with rich natural resource reserves. Russia has around 1.32 quadrillion cubic feet of natural gas reserves, which is around 20 % of the total world reserves.
It is behind the 12 % global supply of crude oil and is the third-largest crude oil producer. Along with gas and oil, it is one of the main exporters of different construction materials like clay, sand, granite, milestone, etc., and it earns high revenue. Its high amount of gold reserves measures around 6,800 tons, almost 13 % of the world’s gold reserves. Combining the total worth of all these commodities, Russia’s natural reserves value is around $75 trillion.
2. United States
The United States is one of those blessed countries that enjoy diverse natural resources, and it is independent in various fields with its strong economy and infrastructure. Its top natural reserves include coal, petroleum oil, timbers, natural gas, copper, gold, etc. The U.S. meets its energy requirements mainly from fossil fuels, which is more than 80%. Other significant energy sources are coal, petroleum, natural gas, etc.
It is one of the leading oil exporters in the world and earns huge foreign exchange reserves with it. According to the recent five-year record, the worth of its refined petroleum exports was around $138 billion, and for crude petroleum, its exports were worth $118 billion.
Along with oil, it has huge reserves of liquified natural gas (LNG) and other petroleum gases. The worth of its exports for petroleum gas was recorded at $116 billion in the previous five years. With 470 billion short tons, its coal reserves are larger than oil and gas, and it is exporting coal to around 71 countries in the world. Some other valuable resources include lead, phosphates, uranium, iron, mercury, silver, tungsten, zinc, etc.
3. Saudi Arabia
Saudi Arabia is famous for its huge petroleum reserves and is the largest exporter in the world. Its oil reserves are also behind its strong economy and generate foreign exchange revenue. 67% of its total exports are based on the oil industry. With its oil and gas resources, it is titled the “energy Superpower,” and half of its oil reserves are located in the Saudi-Kuwait Partitioned Neutral Zone.
The worth of Saudi Arabia’s total natural assets was recorded at US$34.4 trillion in 2016. Its natural gas reserves are mostly located in Ghawar, and they are around 6.8 trillion cubic meters. It serves different Asian and European countries through its exports. Some of the notable reserves of this Middle Eastern country are copper, gold, iron ore, feldspar, phosphate, silver, sulfur, tungsten, and zinc.
4. Canada
The total worth of its natural reserve is around $33.2 trillion, and it comes after Venezuela and Saudi Arabia for its enriched oil reserves, which are around 164 billion barrels. Canada generates high foreign exchange revenue through the export of oil. It is in the third position in the production of hydroelectricity in the world and 4th largest producer of uranium globally. Canada is also blessed with vast natural gas reserves. Its metals exports are around 110.7$ billion, and coal exports are recorded at around 14.6 $ billion.
Canada is a leading producer of natural gas with 71,794,000 Million Cubic feet (MMcf) reserves. Some other prominent natural resources available here are copper, lead, nickel, gold, silver, and zinc. Also, gypsum, limestone, rock salt, and potash are significant industrial materials that are in demand worldwide and behind economic developments.
5. China
China is also among the top countries with the most natural resources, and the total worth of its natural reserves is around $23 trillion. 90% of this figure represents coal and rare earth metal reserves and is behind its strong economy with the generation of foreign exchange reserves. China is also the top hydropower producer in the world.
Most of the country’s coal reserves are found in the northern regions, and around 25,132,122,000 barrels of oil reserves are available. Some of its other notable natural resources include aluminum, timber, copper, iron ore, gold, and aluminum minerals.
6. Australia
The total worth of various Australian natural reserves is around $19.9 trillion. It has vast liquified natural gas reserves, and around 2.4 billion barrels of oil reserves were recorded in 2021. It is one of the major petroleum gas exporters, recorded at $67.3 billion, and gold exports are around $17.8 billion.
Some of its key resources that are also included in the export list are gold, diamond, zinc, mineral sands, coal, timber, copper, iron ore, uranium, etc. The total exports for coal briquettes are recorded at around $109 billion, and for iron ore, exports are worth $87.9 billion. It contributes 29% to the total coal exports in the world. Its building and industrial minerals, like clays, mica, salt, dolomite, etc., are in high demand worldwide and are behind its advanced infrastructure.
7. Brazil
The total worth of Brazil’s natural resources is around $21.8 trillion. It is one of the leading countries in the world for its hydroelectric power production and one of the major exporters of refined petroleum. In 2022, the worth of its petroleum exports was recorded at $12.9 billion, and crude petroleum exports were recorded at $43.1 billion. In 2020, its oil and gas reserves were extracted in huge amounts. Around 138.753 million cubic meters of natural gas and 3.168 million barrels of oil were extracted in a day. Such huge resources are the backbone of the economy and behind its rapid industrialization.
Some of its significant natural resources include tin, iron ore, phosphate, diamonds, manganese, chromium, copper, bauxite, etc. Most of the diamonds that are found in mining are alluvial diamonds and are supplied to worldwide regions. It is serving as the largest international market for steel and cement.
The high production of steel, nearly tens of millions of tons, is generating high revenue in the form of foreign exchange reserves. Also, the production of cement is around 26 million tons.
8. Venezuela
Venezuela is famous worldwide for its vast petroleum and natural gas reserves and is one of the top oil exporters. Nine-tenths of its exports are based on these two natural resources. Its crude oil reserves are around 303 billion barrels, the largest in the world, representing 17% of global reserves. 95 % of its exports are petroleum products that generate foreign exchange reserves and are helpful for economic development.
It is also famous for its natural gas reserves, which are around 195 trillion cubic feet and represent 73% of the total South American reserves. In 2022, the export value of its scrap Iron was around $564M, and for petroleum coke, the value was $509 million. The amount of its crude petroleum exports was $495 million and for raw aluminum, its exports were recorded at $337 million. Other significant natural commodities available here are coal, iron ore, bauxite, and other minerals.
9. Iran
Iran is the 9th largest oil producer in the world, and its economy is based on exports. Some of the major oil fields in Iran are Ahvaz Field, Marun Field, Aghajari Field, Gachsaran Field, etc. After oil, gas reserves are tremendous. Iran Petroleum Ministry states that Iran’s natural gas reserves are around 1,201 trillion cubic feet. 33% of this reserve is associated gas, and 67% is non-associated gas fields.
It has around 17.8% of the world’s total gas reserves and is one of its major exporters. In addition to oil and gas reserves, it is blessed with valuable resources like coal, sulfur, chromium, copper, iron ore, zinc, lead, manganese, etc. Currently, it is producing around 280,000 tonnes of copper and is striving to increase it to one million tonnes. Its coal mines can produce three million tons of coal every year. The total worth of its natural resources is around $27.3 trillion.
10. Iraq
Iraq is also one of those countries that has multiple natural resources worth around $15.9 trillion. Petroleum oil is the biggest reserve in the world and also behind its economic development and infrastructure. 92 % of its foreign exchange earnings are derived from crude oil exports, and it is in the fifth position on the base of its crude oil reserves. Its Rumaila oil field, located at the Kuwait border, can produce 1.5 million barrels of oil per day. Other than oil, its major natural resources include natural gas, phosphates, sulfur, natural forests, etc.
In 2017, its gas reserves were recorded at around 111,522,000 million cubic Feet, and its consumption was around 93,344 million cubic feet. Its gas reserves perfectly meet domestic needs, and it does not import any reserves from other countries. Regions in western Iraq are enriched with phosphate reserves. Its largest phosphate mines are located in Akashat, which is in the Rutbah district. Also, Iraq is generating huge revenue from its sulfur exports. In 2022, the export value of sulfur was around $36 million, and it is ranked 32nd as the major exporter of sulfur globally.
Bottom Line
Natural reserves, both renewable and nonrenewable, are one of the key factors behind a country’s economic growth. They are valuable in high revenue generation, industrialization, and a high export ratio, resulting in tremendous foreign reserves.
Countries like Russia, the United States, China, Australia, etc., are leading the world in various fields by optimally utilizing their natural resources. They enjoy high geopolitical power and high foreign exchange earnings. Other countries that are less rich in natural assets depend on these countries for their infrastructure and industrialization.
Frequently Asked Questions
Which Natural Resource is Most Abundant in Canada?
Oil is Canada’s most abundant natural resource, and it has almost 10% of the world’s oil reserves. Its oil refineries process around 2 million barrels of oil every day.
What Are the Five Top Resources in China?
Coal, forests, hydroelectric power, oil, and natural gas are the five top resources of China. It is working as the global economic powerhouse on the base of these resources.
Who Is the Biggest Coal Exporter in Asia?
Indonesia is Asia’s biggest exporter of coal. In 2023, the total worth of its exported coal to worldwide regions was around $104.30 billion.
What Are the Primary Natural Resources of Saudi Arabia?
Saudi Arabia’s primary energy resources are petroleum, natural gas, gold, iron, and copper.
What Natural Resources Does the United States Not Possess?
The United States lacks important minerals like gallium, graphite, yttrium, bismuth, rare earths, etc. It heavily relies on imports to fulfill this deficiency.
Which Country Is the Largest Natural Gas Exporter?
The United States is the world’s largest natural gas exporter. Its exports are around 89.1 billion cubic meters of gas and 114.4 billion cubic meters of liquefied natural gas.
