What is the poorest continent in natural resources?

What is the poorest continent in natural resources?

African continent
Although the African continent is blessed with gold, diamonds, oil, coltan, bauxite, uranium, iron ore and other valuable resources, its inhabitants have long numbered among the world’s poorest. While a few sub-Saharan African nations are doing relatively well, most are mired in poverty.

Why is Africa considered a very rich continent?

Africa is blessed with a rich bounty of natural resources. The continent holds around 30% of the world’s known mineral reserves. Given this natural wealth it comes as no surprise that, with the tripling of global mineral and oil prices in the past decade, mining has exploded on the African continent.

Is the African continent poor in natural resources?

Finding 1: Africa is rich in natural resources, but its resource wealth is one of the lowest among the world’s developing regions, both in aggregate and per capita terms (Figure 1). Africa uses only 2 percent of its renewable water resources compared to 5 percent globally.

What makes Africa rich in terms of natural resources?

The continent has 40 percent of the world’s gold and up to 90 percent of its chromium and platinum. The largest reserves of cobalt, diamonds, platinum and uranium in the world are in Africa. It holds 65 per cent of the world’s arable land and ten percent of the planet’s internal renewable fresh water source.

What is the richest continent in the world?

Asia
List by the International Monetary Fund (2021 estimate)

Rank Continent GDP (US$billion)
World 93,864
1 Asia 36,383
2 North America 26,298
3 Europe 23,614

Which is the most powerful country in the world?

United States. #1 in Power Rankings. No Change in Rank from 2020.

  • China. #2 in Power Rankings. #3 out of 73 in 2020.
  • Russia. #3 in Power Rankings. #2 out of 73 in 2020.
  • Germany. #4 in Power Rankings.
  • United Kingdom. #5 in Power Rankings.
  • Japan. #6 in Power Rankings.
  • France. #7 in Power Rankings.
  • South Korea. #8 in Power Rankings.
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