Visualizing the Emerging Markets of the Future
China’s rapid pace of growth is slowing, and no one knows if India can become the next China. So who will lead global economic growth?
Today’s infographic looks at the emerging markets of the future, or to say more confusedly, the “emerging” emerging markets.
The data speaks for itself. By 2050, Nigeria will be the 9th biggest economy in the world when measured by purchasing power parity (PPP). Pakistan will jump to 15th, and countries such as the Philippines, Bangladesh, and Vietnam will make big leaps to help round out the top 25.
The Asia-Pacific region, which currently makes up only 4.8% of the world’s middle-class spending, will balloon to the biggest spender by far in 2030 at 32.6%. For comparison, North America will jump from 5.5% to 5.8% in that same time period.
There is plenty of money to be made as well. Ultra high net worth individuals, defined as people with over $30 million in assets, will soar in these countries in the coming years. For example, in Africa as a whole, the amount of these individuals will grow 59% over the next decade, compared to the average global rate of 34% growth.
Original graphic by: Raconteur
Which Countries Produce the Most Wheat?
Global wheat production is concentrated in just a handful of countries. Here’s a look at the top wheat-producing countries worldwide.
Visualizing Global Wheat Production by Country (2000-2020)
Wheat is a dietary staple for millions of people around the world.
After rice and corn (maize), wheat is the third most-produced cereal worldwide, and the second-most-produced for human consumption. And considering wheat’s importance in the global food system, any impact on major producers such as droughts, wars, or other events, can impact the entire world.
Which countries are the largest producers of wheat? This graphic by Kashish Rastogi visualizes the breakdown of 20 years of global wheat production by country.
Top 10 Wheat Producing Countries
While more than 80 different countries produce wheat around the world, the majority of global wheat production comes from just a handful of countries, according to data from The Food and Agriculture Organization of the United Nations (FAO).
Here’s a look at the top 10 wheat-producing countries worldwide, based on total yield in tonnes from 2000-2020:
|Rank||Country||Continent||Total yield (tonnes, 2000-2020)||% of total (2000-2020)|
|#1||🇨🇳 China||Asia & Oceania||2.4 B||17.0%|
|#2||🇮🇳 India||Asia & Oceania||1.8 B||12.5%|
|#3||🇷🇺 Russia||Asia & Oceania||1.2 B||8.4%|
|#4||🇺🇸 U.S.||Americas||1.2 B||8.4%|
|#5||🇫🇷 France||Europe||767 M||5.4%|
|#6||🇨🇦 Canada||Americas||571 M||4.0%|
|#7||🇩🇪 Germany||Europe||491 M||3.5%|
|#8||🇵🇰 Pakistan||Asia & Oceania||482 M||3.4%|
|#9||🇦🇺 Australia||Asia & Oceania||456 M||3.2%|
|#10||🇺🇦 Ukraine||Europe||433 M||3.1%|
China, the world’s largest wheat producer, has yielded more than 2.4 billion tonnes of wheat over the last two decades, making up roughly 17% of total production from 2000-2020.
A majority of China’s wheat is used domestically to help meet the country’s rising food demand. China is the world’s largest consumer of wheat—in 2020/2021, the country accounted for approximately 19% of global wheat consumption.
The second-largest wheat-producing country is India. Over the last two decades, India has produced 12.5% of the world’s wheat. Like China, India keeps most of its wheat domestic because of significant food demand across the country.
Russia, the world’s third-largest wheat producer, is also the largest global exporter of wheat. The country exported more than $7.3 billion worth of wheat in 2021, accounting for approximately 13.1% of total wheat exports that year.
Russia-Ukraine Impact on Global Wheat Market
Because Russia and Ukraine are both significant global wheat producers, the ongoing conflict between the two countries has caused massive disruptions to the global wheat market.
The conflict has had an impact on adjacent industries as well. For instance, Russia is one of the world’s major fertilizer suppliers, and the conflict has led to a global fertilizer shortage which could lead to food shortages worldwide.
3 Reasons for the Fertilizer and Food Shortage
Bad weather, the war in Ukraine, and a shortage of fertilizer have led to fears of a global food crisis. Here are three factors you should know.
3 Reasons for the Fertilizer and Food Shortage
Bad weather, the Russian invasion of Ukraine, and a shortage of fertilizer have led to fears of a global food crisis.
This infographic will help you understand the problem by highlighting three key factors behind the mounting food crisis.
#1: The Fertilizer Shortage
Since the beginning of the Russian invasion of Ukraine in February 2022, the war has disrupted shipments of fertilizer, an essential source of nutrients for crops.
Russia is the world’s top exporter of nitrogen fertilizer and ranks second in phosphorus and potassium fertilizer exports. Belarus, a Russian ally also contending with Western sanctions, is another major fertilizer producer. In addition, both countries collectively account for over 40% of global exports of the crop nutrient potash.
Here are the top 20 fertilizer exporters globally:
|Rank||Country||Exports Value (Billions in USD)|
|#5||🇺🇸 United States||$4.1|
|#6||🇸🇦 Saudi Arabia||$3.6|
The main destination of fertilizer exports from Russia are large economies like India, Brazil, China, and the United States.
However, many developing countries—including Mongolia, Honduras, Cameroon, Ghana, Senegal, and Guatemala—rely on Russia for at least one-fifth of their fertilizer imports.
Furthermore, the war intensified trends that were already disrupting supply, such as increased hoarding by major producing nations like China and sharp jumps in the price of natural gas, a key feedstock for fertilizer production.
#2: Global Grain Exports
The blockade of Ukrainian ports by Russia’s Black Sea fleet, along with Western sanctions against Russia, has worsened global supply chain bottlenecks, causing inflation in food and energy prices around the world.
This is largely because Russia and Ukraine together account for nearly one-third of the global wheat supply. Wheat is one of the most-used crops in the world annually, used to make a variety of food products like bread and pasta. Additionally, Ukraine is also a major exporter of corn, barley, sunflower oil, and rapeseed oil.
|Producer||Grain Exports in Million Tons (MT)|
|🇺🇸 United States||93MT|
|🇷🇺 Russia & 🇺🇦 Ukraine||87MT|
As a result of the blockade, Ukraine’s exports of cereals and oilseed dropped from six million tonnes to two million tonnes per month. After two months of negotiations, the two countries signed a deal to reopen Ukrainian Black Sea ports for grain exports, raising hopes that the international food crisis can be eased.
#3: Recent Food Shortages
Besides the war in Ukraine, factors including the COVID-19 pandemic and climate change resulted in nearly one billion people going hungry last year, according to United Nations.
France’s wine industry saw its smallest harvest since 1957 in 2021, with an estimated loss of $2 billion in sales due to increasingly higher temperatures and extreme weather conditions.
Heat, drought, and floods also decimated crops in Latin America, North America, and India in recent months. Between April 2020 and December 2021, coffee prices increased 70% after droughts and frost destroyed crops in Brazil.
In the face of multiple crises, the World Bank recently announced financial support of up to $30 billion to existing and new projects in areas such as agriculture, nutrition, social protection, water, and irrigation.
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