An economy is considered “commodity-dependent” when over 60% of its merchandise exports are commodities, mainly comprising energy, mining and agricultural categories.

In this report, UN Trade and Development (UNCTAD) provides detailed statistical profiles of its 195 member states, exploring how their commodity exports and imports have changed when comparing the three-year periods between 2021–2023 and 2012–2014.

It analyses the decade-long shifts in trade flows, regional patterns of commodity dependence, as well as the persistent differences between developed and developing economies.

Two thirds of developing countries are commodity dependent

During 2021-2023, 95 of 143 developing economies – including more than 80% of least developed countries – remained commodity dependent.

Such dependence, long been a global concern, hinders economic resilience and leaves developing nations vulnerable to price volatility and external shocks.

Shrinking share of commodity exports in world trade

Commodities exports represent about one third of international trade, but their share has decreased slightly in the past decade.

Comparing periods of 2012-2014 to 2021-2023, the value of global merchandise trade expanded substantially by 25.6%, while commodity exports grew relatively slowly at 15.5%.

Report by the United Nations Conference on Trade & Development