Commodity dependence runs deep: Developing countries must add value to turn the tide

Commodity dependence runs deep: Developing countries must add value to turn the tide

Commodities are a vital engine for global trade, contributing one third of the total value. But its value addition that holds the key to more diverse and resilient economies. The world still has a long way to go in breaking commodity dependence, a situation where a country makes more than 60% of its merchandise export earnings from commodities. Such goods can be broadly categorized into three categories: energy, mining and agriculture – be it th…