Predictably, much of the global economy runs on oil, especially the Middle East and some Central Asian countries.
In general, developing countries export raw materials, developed countries export goods.
Machinery and electronics, including computers, have reached fossil fuel products as the world’s most worthy export goods.
Top 10 World’s Top Export Products
- Electrical machinery – $2.9 trillion
- Fuels, including crude oil – $2.5 trillion
- Computers – $2.3 trillion
- Vehicles – $1.5 trillion
- Plastics – $0.7 trillion
- Gems – $0.6 trillion
- Medical equipment – $0.6 trillion
- Pharmaceuticals – $0.6 trillion
- Organic chemicals – $0.5 trillion
- Iron and steel – $0.4 trillion
Europe is the world’s plant, where most of the machinery and machine transports are made.
Latin America produces different food products. Asia is the global’s manufacturing centre, where the world’s clothes, wood goods, are created. Africa is hugely rich in natural resources, especially valuable metals. A large part of the African continent does its business selling gold, diamonds and oil.