Adjusted savings: mineral depletion (current US$)
Countries By Adjusted savings: mineral depletion (current US$)
Key points
- Australia has the highest mineral depletion value at $23,386,309,249.98, indicating significant use of mineral resources relative to remaining reserves.
- Malawi has the lowest mineral depletion value at $36,924.05, implying a longer remaining reserve lifetime compared to other countries.
- The average mineral depletion across all listed countries is approximately $1,315,413,596.08, reflecting the global utilization of mineral resources.
- High mineral depletion values may signify an increased risk of resource depletion and environmental degradation in the long term.
- Countries with substantial mineral depletion should focus on sustainable resource management and exploration of alternative resources to ensure long-term economic stability.
Official Definition of Adjusted savings: mineral depletion (current US$)
Mineral depletion is the ratio of the value of the stock of mineral resources to the remaining reserve lifetime (capped at 25 years). It covers tin, gold, lead, zinc, iron, copper, nickel, silver, bauxite, and phosphate.
Importance
Adjusted savings: mineral depletion (current US$) is a crucial macroeconomic statistic for a country as it indicates the rate at which a country is depleting its mineral resources in comparison to the remaining reserve lifetime.
A low value of this statistic suggests that the country is managing its mineral resources efficiently, ensuring sustainable usage and preserving these non-renewable resources for future generations. This can lead to long-term economic stability, secure access to important minerals for domestic industries, and reduce the country's dependency on imports.
On the other hand, a high value of mineral depletion implies that the country is rapidly exhausting its mineral reserves without adequate consideration for the future. This could result in economic volatility, increased reliance on imported minerals, environmental degradation, and potential conflicts over scarce resources. It may also indicate unsustainable exploitation practices and a lack of long-term planning in resource management.
Top 10 Countries by Adjusted savings: mineral depletion (current US$)
Bottom 10 Countries by Adjusted savings: mineral depletion (current US$)
Regions
Europe
Adjusted savings from mineral depletion vary significantly among the selected countries. The Russian Federation stands out with the highest value, reflecting its substantial mineral wealth and extraction activities. Germany, Sweden, and Poland also show considerable figures due to their robust mining industries. Conversely, smaller countries like Montenegro and Albania have much lower values, indicating less reliance on mineral resources. While high values may indicate strong economic contributions, overreliance on mineral depletion can lead to environmental degradation and resource depletion challenges. For countries like Ireland and Portugal, striking a balance between mineral exploitation and sustainability is crucial for long-term development and environmental preservation.
Far East: East Asia, SE Asia, Australia
Adjusted savings due to mineral depletion vary significantly among the listed countries. Australia leads with a substantial value, reflecting its rich mineral reserves and significant mining activity. China follows closely, emphasizing its heavy reliance on minerals for economic growth. Indonesia, despite having significant mineral resources, has a comparatively lower value, indicating potential inefficiencies in resource management. Japan and South Korea demonstrate lower values due to limited domestic minerals, relying heavily on imports. This statistic suggests challenges for resource-rich countries in sustainable development and highlights the need for strategic resource planning to avoid depletion and economic imbalances.
ASEAN
Adjusted savings due to mineral depletion vary significantly among the selected countries. Indonesia leads with a value of $3,021,770,517.33, indicating a substantial depletion of mineral resources. The Philippines follows with $1,095,167,612.55, showing a significant impact as well. Myanmar, Laos, and Vietnam have notably lower values, suggesting a comparatively lower mineral resource exploitation. Indonesia and the Philippines may benefit economically from their mineral wealth but face the risk of resource depletion and environmental damage. In contrast, Myanmar, Laos, and Vietnam have the advantage of more sustainable resource management but may miss out on immediate economic gains. The statistic highlights the importance of proper resource management for sustainable development in these countries.
Latin America
Adjusted savings due to mineral depletion vary significantly among the listed countries, with Chile and Brazil having the highest values, indicating a substantial stock of mineral resources. This statistic illustrates the importance of mining activities in these economies, providing a source of wealth and industrial inputs. While Chile and Brazil benefit from abundant mineral reserves, smaller countries like Honduras and Nicaragua have minimal values, suggesting limited resource exploitation potential. Developing sustainable mining practices is crucial to balance economic gains with environmental preservation for all countries, with potential advantages in revenue generation balanced against disadvantages of environmental degradation and resource depletion.
Middle East
The data on Adjusted Savings: Mineral Depletion for the listed countries reflects varying degrees of utilization and preservation of mineral resources. Iran stands out with a significantly high value, indicating substantial exploitation of its mineral wealth. Turkey follows suit, showcasing a sizeable usage of mineral resources. Azerbaijan and Saudi Arabia also have notable figures, pointing to their reliance on mineral extraction. Conversely, countries like Algeria and Cyprus exhibit lower values, suggesting more conservative use of their mineral reserves. While high depletion rates may boost immediate economic growth, they pose sustainability challenges. Countries with lower depletion rates may benefit from prolonged resource availability but could face slower economic development. Overall, this statistic underscores the delicate balance between economic advancement and resource conservation for these nations.
Rivals
Anglosphere v BRICS
Australia leads in Adjusted savings: mineral depletion with its significant value, highlighting its heavy reliance on mineral resources. Brazil, China, and India follow, indicating their large mineral reserves exploited for economic growth. Canada and the Russian Federation also show substantial values, reflecting their resource-rich economies. South Africa stands out for its moderate value, showcasing a balanced approach to mineral resource utilization. New Zealand, the United Kingdom, and the United States have relatively lower values, suggesting lesser dependence on mineral resources. While high values signify resource wealth, they pose risks of resource depletion and environmental degradation. Countries with moderate values benefit from sustainable resource management. This statistic influences economic development, with high values potentially leading to unsustainable growth and environmental damage, while moderate values encourage resource conservation and long-term economic stability.
Russia v Ukraine
Adjusted savings from mineral depletion for the Russian Federation amount to approximately $6.96 billion, while for Ukraine it is about $57.55 million. The Russian Federation, with its vast mineral resources, holds a substantially higher value in this statistic compared to Ukraine, indicating a greater dependency on mineral extraction for economic development. This reliance can be an advantage for the Russian economy in terms of revenue generation but poses a risk of resource depletion. Ukraine, on the other hand, has a much smaller value, suggesting a more diversified economy. This can be advantageous for long-term sustainability but may also indicate underutilization of mineral resources. The impact of this statistic on the countries' development lies in their ability to manage and sustainably utilize their mineral wealth to drive economic growth while preserving resources for future generations.
Saudi Arabia v Iran
Iran's adjusted savings for mineral depletion amount to approximately $1.45 billion, significantly higher than Saudi Arabia's $244.6 million. This indicates Iran's greater reliance on mineral resources in its economy compared to Saudi Arabia. The advantage for Iran lies in its potential for resource wealth generation, while the disadvantage is the risk of over-dependence on finite minerals. On the other hand, Saudi Arabia's lower depletion value suggests a diversified economy less reliant on mineral resources. This can be advantageous for long-term economic stability but may limit immediate revenue. Ultimately, managing mineral depletion is crucial for sustainable development in both countries, impacting their economic resilience and future growth prospects.
India v Pakistan
India's adjusted savings for mineral depletion stands at approximately $11.76 billion, significantly higher than Pakistan's $33 million. This indicates that India has a larger stock of mineral resources with a longer remaining reserve lifetime compared to Pakistan. For India, this signifies a potential advantage in terms of mineral wealth and resource sustainability for future economic activities. However, a high dependence on mineral resources can also lead to environmental degradation and socio-economic challenges. Conversely, Pakistan's lower figure may indicate a need for diversification in its resource base to ensure long-term economic stability, albeit with less environmental impact. Overall, this statistic highlights the importance of sustainable resource management for both countries' development trajectories.
Turkey v Greece
Adjusted savings from mineral depletion in Greece amount to $17,612,694.63, whereas in Turkey, it is significantly higher at $734,383,816.21. Despite both countries relying on mineral resources, Turkey's mineral depletion value dwarfs that of Greece by a large margin. Turkey's advantage lies in its abundant mineral reserves, providing a substantial economic boost. However, this heavy reliance on mineral extraction can lead to environmental degradation and resource depletion, posing a long-term risk. For Greece, while the lower value indicates a lesser economic contribution from mineral resources, it can also signify a more sustainable approach to resource management and environmental preservation, potentially safeguarding its natural heritage in the long run.
China v Japan
China, People's Republic of has a significantly higher adjusted savings for mineral depletion compared to Japan, with a value of 16,498,443,074.57 dollars as opposed to Japan's 1,239,156,676.94 dollars. This indicates that China has a larger stock of mineral resources in relation to its remaining reserve lifetime, reflecting a greater reliance on mineral wealth for economic development. The advantage for China lies in its resource abundance, potentially supporting industrial growth. However, this heavy reliance on minerals can also pose environmental challenges and sustainability risks. For Japan, the lower value suggests a more diverse economy with reduced dependence on mineral resources, which may enhance resilience to resource depletion and price volatility. The impact of this statistic on both countries underscores the importance of sustainable resource management and diversification strategies for long-term economic stability and development.
FAQs
- Which country has the most mineral depletion in terms of Adjusted savings: mineral depletion (current US$)?
- Which country has the least mineral depletion in terms of Adjusted savings: mineral depletion (current US$)?
- What is the average value of mineral depletion in terms of Adjusted savings: mineral depletion (current US$) among the listed countries?
Australia has the highest mineral depletion with a value of 23,386,309,249.9815 current US$.
Malawi has the least mineral depletion with a value of 36,924.0541738495 current US$.
The average value of mineral depletion in the listed countries is approximately 1,315,413,596.078932 current US$.