Iraq has ranked ninth globally and second in the Arab world as one of the countries with the most natural resources, according to the Visual Capitalist index, a Canadian firm specializing in diverse economic statistics, and Statista, a German company specializing in market and consumer data.
Natural resources are a fundamental pillar of the economy for many countries, as this wealth of minerals, oil, and gas forms an important support to enhance revenues, support local industry, attract foreign investments, and create large-scale job opportunities.
Resources often play a role in determining countries' positions in the global economy, where they can represent a source of political and economic strength if exploited sustainably, providing returns to the state.
Russia tops the list of countries with the most natural resources in the world, led by its vast reserves of oil, coal, natural gas, and rare earth metals, while the United States comes second with its coal, timber, natural gas, copper, and gold.
Saudi Arabia ranks third globally and first in the Arab world as the country with the largest natural resources from oil and natural gas, while Iraq ranks ninth globally and second in the Arab world with its oil and phosphate.
Despite the massive resources these countries possess, resource management remains a crucial factor in achieving sustainability and real development in the future.