The types of raw materials are important for all production of goods consumed by society. The presence of these elements is essential for the development of industrial activity, since they are the fundamental basis for manufacturing. Raw materials are fundamental for the production of goods that are consumed by society as a whole. It is not possible to imagine the development of industrial activity without them. Therefore, the set of raw materials represents the economic base of the secondary sector of the world economy.
The number of countries that depend on the export of raw materials has reached its highest level in 20 years, according to a new report by the United Nations Conference on Trade and Development (UNCTAD). UNCTAD defines a country as dependent on commodities when these represent more than 60% of its total merchandise exports in terms of value.
The 2019 Commodity Reliance Report showed that commodity dependent countries increased from 92 between 1998 and 2002 to 102 between 2013 and 2017. More than half of the world's countries (102 out of 189) and two-thirds of developing countries are dependent on commodities, the report found. “Given that commodity dependency often negatively affects a country's economic development, it is important and urgent to reduce it to make more rapid progress towards the Sustainable Development Goals (SDGs),” said UNCTAD Secretary-General Mukhisa Kituyi.
Global Saribra seeks to circumvent the problem for the Nation through partnerships with other Nations and bodies through inter-Nation exchanges.