B. Natural resources: definitions, trade patterns and ...

World trade reporT 201044 This section provides a broad overview of the role that trade in Natural resources plays in the global economy. It begins with a discussion of definitions and terminology, focusing on key features that distinguish Natural resources from other types of traded goods. These features include the exhaustibility of Natural resources, the uneven geographical distribution of resource endowments, the presence of externalities in the spillover effects of extraction and use of Natural resources, the dominance of the Natural resources sector in many national economies, and the high degree of price volatility in this class of goods. A variety of statistical data related to Natural resources are presented in order to illustrate the magnitude and direction of global trade Natural resources: definitions, trade patterns and globalizationII trade In Natural ResouRces45B.

immobile” natural resource, can be exported through commodities grown on that land. Hence, at a fundamental level, natural resources are often a reason for trade rather than tradable goods in their own right. more precise statistical definitionthat identifies exactly which products are to be counted as natural

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  Resource, Natural, Natural resources

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