Commodity Dependent Economies

The country’s nascent creative industries hold vast potential to help diversify its oil-dependent economy. To do so, greater investment and policy support are indispensable.

By Paul Akiwumi, Director for Africa and Least Developed Countries, UNCTAD

The series explores how major economic events affect developing countries. In the second episode, UNCTAD’s Africa director Paul Akiwumi talks about the urgent need for economic diversification on the continent.

The Global Commodities Forum 2021 tackles the many facets of commodity dependence and the vulnerabilities of countries whose economies rely on primary goods exports.

A recent UNCTAD study identifies three ways smallholder farmers in the landlocked southeast Asian nation can boost earnings from their harvests.

Value-addition and diversification high on the agenda - with priority given to female smallholder farmers and traders.

Promoting structural transformation and productive capacities, including economic diversification, can help countries overcome disadvantages.

Written byFabrizio Meliado, Parkhi Vats, Kris Terauds, Matthias Knappe

The report highlights how commodity-dependent developing countries will be directly affected by climate change, and indirectly by mitigation and adaptation policies pursued not only by themselves but also by third countries.

By Kris Terauds, Economic Affairs Officer, UNCTAD