Connect with us

Energy

Mapped: The Top Middle East Exports by Country

Published

on

Top Middle East exports by country

Mapped: The Top Middle East Exports by Country

The Middle East is widely recognized for its significant role in the global energy market. However, countries in the region also foster other substantial industries, including metals, chemicals, and agriculture.

The graphic above uses 2021 exports data from The Observatory of Economic Complexity to help explain the economy of the Middle East.

โ„น๏ธ Though Afghanistan is not part of the traditionally defined Middle East, we’ve included it due to multiple organizations counting it as part of the region.

Top Exports by Middle-Eastern Countries in 2021

In 2021, the Middle East’s exports reached a total value of $1.27 trillion. While the region lags behind Asia, Europe, and North America in global exports, it outpaces Africa and South America.

Despite many countries undertaking efforts to diversify their economies and reduce their oil dependence, most of the exports still come from fossil fuels.

CountryTop Export (2021)Top Export ValueTotal Exports Value
๐Ÿ‡ฆ๐Ÿ‡ช UAECrude petroleum$58.5B$296.0B
๐Ÿ‡ธ๐Ÿ‡ฆ Saudi ArabiaCrude petroleum$138.0B$256.0B
๐Ÿ‡น๐Ÿ‡ท TurkeyCars$10.0B$234.0B
๐Ÿ‡ถ๐Ÿ‡ฆ QatarPetroleum gas$57.2B$94.7B
๐Ÿ‡ฎ๐Ÿ‡ถ IraqCrude petroleum$72.0B$81.1B
๐Ÿ‡ฎ๐Ÿ‡ฑ IsraelDiamonds$9.1B$64.1B
๐Ÿ‡ฐ๐Ÿ‡ผ KuwaitCrude petroleum$40.1B$58.2B
๐Ÿ‡ด๐Ÿ‡ฒ OmanCrude petroleum$24.2B$56.9B
๐Ÿ‡ช๐Ÿ‡ฌ EgyptRefined petroleum$4.8B$44.5B
๐Ÿ‡ง๐Ÿ‡ญ BahrainRefined petroleum$4.3B$15.0B
๐Ÿ‡ฎ๐Ÿ‡ท IranEthylene polymers$3.2B$14.0B
๐Ÿ‡ฏ๐Ÿ‡ด JordanPotassic fertilizers$1.2B$12.0B
๐Ÿ‡ฑ๐Ÿ‡ง LebanonGold$0.4B$4.8B
๐Ÿ‡พ๐Ÿ‡ช YemenCrude petroleum$1.1B$2.0B
๐Ÿ‡ฆ๐Ÿ‡ซ AfghanistanGrapes$0.4B$1.9B
๐Ÿ‡ต๐Ÿ‡ธ PalestineBuilding stone$0.2B$1.5B
๐Ÿ‡ธ๐Ÿ‡พ SyriaPure olive oil$0.1B$1.0B

The Middle East accounts for one-third of global oil production, producing over 30 million barrels per day. Five of the world’s top 10 oil producers are located in the region.

But some countries like Tรผrkiye show off more diverse economies. The country’s exports range from minerals to machinery and textiles, with cars as its top export. The country is actually one of the world’s top automotive exporters.

Israel is another of the Middle East’s most diverse economies. The country’s major exports encompass electronics, software, and refined petroleum, but cut diamonds rank as the country’s largest single export by value.

Iran has tapped into its ample reserves of oil and natural gas in a different way, becoming a significant producer of plastics. Presently, plastics and rubbers constitute one-quarter of Iran’s exports.

How the Middle East Impacts the Global Economy

Given that the oil sector is one of the most significant in the global economy in terms of both volume and transaction value, many Middle Eastern countries are substantial players in international politics.

Nations such as Saudi Arabia and the UAE have direct impact on the oil market and play a pivotal role in determining the price of the commodity.

Due to the region’s massive exports (and imports of goods), and the importance of oil and gas in goods manufacturing worldwide, regional conflicts by Middle Eastern countries also impact global markets directly.

Click for Comments

Energy

Ranked: Electric Vehicle Sales by Model in 2023

Today, electric vehicle sales make up 18% of global vehicle sales. Here are the leading models by sales as of August 2023.

Published

on

The Highest Electric Vehicle Sales, by Model

Ranked: Electric Vehicle Sales by Model in 2023

Electric vehicle (EV) sales are gaining momentum, reaching 18% of global vehicle sales in 2023.

As new competitors bring more affordable options and new performance features, the market continues to mature as customers increasingly look to electric options.

This graphic ranks the top-selling EVs worldwide as of August 2023, based on data from CleanTechnica.

The Best Selling EVs in 2023 (Through August)

Below, we show the worldโ€™s best selling fully electric vehicles from January to August 2023:

ModelCountryVehicles Sold
(Jan-Aug 2023)
Tesla Model Y๐Ÿ‡บ๐Ÿ‡ธ U.S.772,364
Tesla Model 3๐Ÿ‡บ๐Ÿ‡ธ U.S.364,403
BYD Atto 3 / Yuan Plus๐Ÿ‡จ๐Ÿ‡ณ China265,688
BYD Dolphin๐Ÿ‡จ๐Ÿ‡ณ China222,825
GAC Aion S๐Ÿ‡จ๐Ÿ‡ณ China160,693
Wuling HongGuang Mini EV๐Ÿ‡จ๐Ÿ‡ณ China153,399
GAC Aion Y๐Ÿ‡จ๐Ÿ‡ณ China136,619
VW ID.4๐Ÿ‡ฉ๐Ÿ‡ช Germany120,154
BYD Seagull๐Ÿ‡จ๐Ÿ‡ณ China95,202

As we can see, Tesla‘s Model Y still holds a comfortable lead over the competition with 772,364 units sold. That’s more than double the sales of the #2 top selling vehicle, Tesla’s Model 3 (364,403)

But itโ€™s hard to ignore the rising prevalence of Chinese EVs. The next five best selling EV vehicles are Chinese, including three from BYD. The automaker’s Atto 3 (or Yuan Plus, depending on market), is being sold in various countries including Germany, the UK, Japan, and India.

Meanwhile, Chinese automaker GAC Group also had two models of its Aion EV brand make the rankings, with the Aion S selling 160,693 units so far.

Regional market strength is also clear. For Volkswagen’s ID.4 model (120,154 units sold), Europe and China account for the majority of sales.

Given growing cost efficiencies and changing consumer behavior, global EV sales are projected to make up half of new car sales globally by 2035, according to forecasts from Goldman Sachs.

Continue Reading
MSCI Direct Indexing

Subscribe

Popular