Economic Diversification

Dependence on a few commodities or sectors leaves countries highly vulnerable to price volatility and global shocks. Diversification is key to building more sustainable and resilient economies.

By Paul Akiwumi, Director for Africa and Least Developed Countries, UN Trade and Development (UNCTAD)

The global energy transition offers mineral-rich countries the chance to bolster their industries and diversify their economies but also risks deepening their commodity dependence.

UN Trade and Development introduces an updated statistical framework, helping developing countries effectively assess and leverage their creative industries to fuel growth.

The partnership is retuning the engine of Angola’s economy towards greener and more inclusive growth.

Commodity-dependent developing countries can achieve sustainable and inclusive economic growth by making their economic structures more diversified, resilient and prepared for a low-carbon future.

Agriculture, energy and mining products underpin global trade, but too much dependence on them can leave an economy vulnerable and people poor, especially in developing countries.

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.

The report outlines pathways to transforming the South Asian economy through diversification and innovation.

President Ruto: "We strongly believe that UNCTAD is a strategic partner for Kenya."