Ranked: The Countries Relying the Most on Mining Exports

The Countries Relying the Most on Mining Exports

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This graphic ranks the countries where mining exports (minerals, ores, and metals) are more than 60% of their total exports. Data is from sourced from UN Trade and Development, based on 2019–2021 averaged figures

This sort of resource dependency can make a country vulnerable to economic shocks via price fluctuations.

Diamonds, Gold, and Copper: Key Exports for Many Countries

Around 90% of Botswana’s exports are concentrated in mining, making it the most mineral resource dependent country in the world. Within the sector, diamonds alone account for 80% of all exports.

As a result, Botswana is the top producer of raw, uncut diamonds in the world. The IMF estimates that 25% of the country’s $20 billion GDP is from diamond mining.

Meanwhile, in Mali (#3), Burkina Faso (#4), and Suriname (#5) gold is responsible for most of the mining export dependency. However, Guinea (#2) also exports a significant amount of aluminum ore as well.

In Zambia (#6) and the DRC (#7) where more than 70% of their exports are from mining, copper plays a crucial role. However Zambia also exports a significant amount of gold, and the DRC is a major cobalt exporter.

Of the top 10 countries whose exports are predominantly mining-based, seven are from Africa.

It’s also apparent that this kind of commodity dependence is more common in developing economies (wealthy oil nations are exceptions to the rule). And as commodity demand tends to run in boom-bust cycles, it leaves these less-wealthy countries particularly susceptible to price shocks.

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Resource dependency comes in many flavors. Check out Ranked: The Countries Most Dependent on Agricultural Exports for the economies where food products take center stage.