2026-01-15 02:22:04
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Donald Trump’s trade war was a major driver of U.S. dollar weakness in 2025, pushing trade policy uncertainty to historic levels.
At the same time, U.S. dollars held in foreign central bank reserves fell to 20-year lows. Given these dynamics, several major currencies, from the Swedish krona to the Brazilian real saw double-digit gains against the U.S. dollar amid lower global demand.
This graphic shows the appreciation of major currencies against the greenback in 2025, based on data from Bloomberg via The Bulwark.
Below, we show how numerous currencies strengthened against the U.S. dollar in 2025:
| Currency | Appreciation in 2025 |
|---|---|
 Swedish Krona |
20.2% |
 Mexican Peso |
15.6% |
 Swiss Franc |
14.5% |
 South African Rand |
13.8% |
 Euro |
13.5% |
 Danish Krone |
13.3% |
 Norwegian Krone |
12.9% |
 Brazilian Real |
12.8% |
 Australian Dollar |
7.8% |
 British Pound |
7.7% |
 Singapore Dollar |
6.2% |
 Canadian Dollar |
4.8% |
 Taiwanese Dollar |
4.4% |
 New Zealand Dollar |
2.8% |
 South Korean Won |
2.2% |
 Japanese Yen |
0.3% |
With 20.2% gains, the Swedish krona saw its strongest performance against the dollar in decades.
The U.S. dollar weakened on softer economic data and policy expectations, and investors rebalanced into currencies like the krona amid relatively stronger Swedish growth prospects and economic fundamentals.
The Mexican peso had the second highest gains, strengthening 15.6% in 2025. This marked the best year since 1994, defying expectations given U.S. trade tensions. Among the factors underpinning the peso’s rise are resilient growth and macroeconomic stability.
Meanwhile, the South African rand rose 13.8% and the Brazilian real appreciated 12.8%.
Across Asian countries, the Singapore dollar increased 6.1%, serving as a “quasi safe haven” across the region. The global financial hub is known for its institutional strength and significant current account surplus, further supporting demand.
To learn more about this topic, check out this graphic on the top 50 countries by central bank reserves.
2026-01-15 00:48:00
Exchange-traded funds (ETFs) have become one of the most popular investment vehicles in the United States. They have given investors low-cost, diversified access to nearly every corner of global markets.
This visualization, created in partnership with Terzo, breaks down America’s $13.4 trillion ETF market by asset class. It offers a clear view of how capital is distributed across equities, bonds, and other investment categories—and how that allocation shapes portfolio risk and returns.
An ETF is an investment fund that trades on stock exchanges, much like an individual stock. Most ETFs are designed to track an index, sector, commodity, or asset class. This allows investors to gain broad exposure without having to pick individual securities.
Compared to mutual funds, ETFs typically offer lower fees, greater transparency, and the flexibility to trade intraday. This has fueled their rapid adoption among both retail and institutional investors.
Equities dominate the ETF landscape by a wide margin. U.S. equity ETFs hold roughly $10.5 trillion in assets under management (AUM), accounting for nearly 80% of all ETF assets. Bond ETFs follow with just over $2.2 trillion, reflecting growing demand for fixed income exposure in a more liquid and accessible format.
| Asset Class | Assets Under Management (AUM) |
|---|---|
| Equities | $10.5T |
| Bonds | $2.2T |
| Commodities | $318B |
| Currencies | $160B |
| Real Estate | $77B |
| Other* | $102B |
| Total | $13.4T |
Beyond stocks and bonds, ETFs have expanded into a wide range of asset classes. Commodity ETFs manage about $318 billion AUM, while currency ETFs hold roughly $160 billion. Real estate ETFs account for $77 billion AUM, and a collection of other specialized strategies, including alternatives and niche exposures, add another $102 billion.
Understanding the broader financial landscape is essential, but real advantage comes from knowing what’s happening inside your own business. Great insights start with great data, and by transforming company contracts into actionable intelligence, you can make decisions based on reality, not assumptions.
See NirvanAI in action and learn how it helps you make decisions with confidence.
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2026-01-14 23:12:00
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Oil is the largest of Venezuela’s natural resource reserves, which has dominated recent news, but the country’s resource base extends far beyond crude.
This visualization highlights the often overlooked scale of resources across oil, natural gas, gold, iron, bauxite, diamonds, and coal.
The data for this graphic comes from several sources:
A resource is a naturally occurring material that could be economically extracted now or in the future, while a reserve is the portion of an identified resource that can be economically and legally extracted today.
The data table below shows Venezuela’s resources and reserves for various energy fuels and minerals, along with each ones respective international ranking.
| Resource | Estimated Reserves / Resources* | Units | World Rank |
|---|---|---|---|
| Crude Oil | 303,221 | Million Barrels (MMBbls) | #1 |
| Bauxite | 99.35* | Mega tonnes (Mt) | - |
| Diamond | 1.02* | Billion Carats | - |
| Gold | 2,343 | tonnes (t) | - |
| Natural Gas | 5511 | Billion Cubic Meters (bcm) | #8 |
| Iron | 5.958 | Giga tonnes (Gt) | #8 |
| Coal | 3 | Giga tonnes (Gt) | #27 |
Bauxite and diamond totals are identified resources published by the Venezuelan government providing a snapshot of the geological potential. These have not been independently verified, so they shouldn’t be treated as confirmed reserves.
Gold’s totals are also not of proven underground gold reserves, but rather are based on an asset-level analysis of 24 gold-bearing mines in Venezuela shared by CSIS.
Nearly all of Venezuela’s estimated resource potential is concentrated along the Orinoco river. To the north, the Orinoco Oil Belt hosts Venezuela’s world-leading 303 billion barrels of extra-heavy crude oil reserves.
South of the river, is the Orinoco Mining Arc sitting atop the ancient Guiana Shield, a 1.7 billion-year-old craton.
The Venezuelan government’s mineral catalog and CSIS report world-leading deposits of gold, iron, bauxite, and most notably diamonds.
Government estimates indicate Venezuela surpasses Russia as the country with the largest reserves of diamonds in the world.
Despite the vast resource richness, Venezuela has endured years of humanitarian and economic crisis brought on by international sanctions, mismanagement, and electoral fraud.
The political environment has severely limited production across all resources with failing infrastructure and limited foreign investment.
With the U.S. capture of Venezuela’s President, Nicolás Maduro, the vast heavy crude and mineral endowment becomes a geopolitical lever under U.S. control.
Redirecting heavy-crude barrels toward Gulf Coast refineries may pressure Canadian heavy-oil producers while delivering a setback to Chinese access to Venezuelan supply.
Broadly, Maduro’s capture signals a shift toward raw power politics, where geology still matters, but governance and international alignment may increasingly decide who benefits.
If you enjoyed today’s post, check out All of the World’s Oil Reserves by Country, in One Visualization on Voronoi, the new app from Visual Capitalist.
2026-01-14 21:04:03
See visuals like this from many other data creators on our Voronoi app. Download it for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Costs at the grocery store keep marching higher, but some states are feeling the strain more than others.
Nationwide, ground beef prices jumped 15% in 2025, while orange juice spiked 21%. Moreover, the price for a carton of eggs hit a record-high of $8.15 in March, however prices have dropped meaningfully since then.
This graphic shows the average grocery bill by state in 2025, based on data from GOBankingRates.
Below, we show the average weekly grocery cost for a median-income household in each state, based on analysis of Bureau of Labor Statistics price indexes. Data is as of July 8, 2025.
| State | Average Weekly Grocery Costs 2025 | Annual Cost Increase |
|---|---|---|
| Hawaii | $157 | 9.6% |
| Alaska | $152 | 8.8% |
| California | $127 | 3.4% |
| Washington | $126 | 8.8% |
| Vermont | $124 | 6.3% |
| Florida | $122 | 6.0% |
| Oregon | $122 | 5.0% |
| Maryland | $122 | 4.2% |
| Montana | $122 | 9.5% |
| Idaho | $122 | 7.0% |
| New York | $121 | 6.3% |
| South Dakota | $120 | 12.6% |
| Nevada | $120 | 5.8% |
| Massachusetts | $120 | 4.4% |
| Colorado | $119 | 8.1% |
| New Jersey | $119 | 4.5% |
| Arizona | $119 | 7.6% |
| Wyoming | $119 | 7.8% |
| Connecticut | $118 | 5.0% |
| Minnesota | $117 | 4.7% |
| Maine | $117 | 4.9% |
| Delaware | $117 | 3.7% |
| Kentucky | $116 | 6.0% |
| Ohio | $116 | 6.9% |
| Wisconsin | $116 | 7.9% |
| Rhode Island | $115 | 3.1% |
| South Carolina | $115 | 5.7% |
| Michigan | $115 | 6.9% |
| Nebraska | $115 | 5.8% |
| Virginia | $115 | 5.4% |
| New Hampshire | $115 | 5.0% |
| Illinois | $115 | 6.6% |
| Utah | $114 | 6.6% |
| Indiana | $114 | 6.9% |
| New Mexico | $114 | 7.8% |
| North Carolina | $114 | 5.4% |
| Georgia | $114 | 6.6% |
| Alabama | $114 | 6.6% |
| Pennsylvania | $113 | 4.2% |
| North Dakota | $113 | 8.6% |
| West Virginia | $113 | 3.7% |
| Louisiana | $113 | 6.8% |
| Tennessee | $113 | 5.7% |
| Missouri | $113 | 6.9% |
| Kansas | $112 | 8.0% |
| Mississippi | $112 | 5.7% |
| Texas | $112 | 5.8% |
| Oklahoma | $111 | 6.5% |
| Iowa | $111 | 5.2% |
| Arkansas | $111 | 6.0% |
| U.S. Average | $118 | 6.3% |
In Hawaii, households spend $157 per week on groceries, up 9.6% from the prior year.
Not only is this among the fastest annual increases across states, grocery bills are 33% higher than the national average. Dairy, bread, and poultry are among the items that cost substantially more than the mainland given the state’s reliance on imports.
Alaska follows, with prices increasing 8.8% annually. Within the state, prices can vary dramatically, particularly for rural communities that are not accessible by road. While a bag of chips can cost $6.79 in Anchorage, it climbs to $10.49 in Unalakleet.
As we can see, California prices rank third-highest nationally, up 3.4% compared to July 2024. Higher wages, rent, utilities, and distribution costs all contribute to elevated prices.
On the opposite end of the spectrum are several Southern states. Residents in Arkansas spend the least on groceries, at about 6% lower than the U.S. average. Oklahoma, Texas, Mississippi, and Kansas also rank near the bottom due to comparatively lower costs of living.
To learn more about this topic, check out this graphic on the U.S. cities with the highest grocery costs.
2026-01-14 02:21:12
See visuals like this from many other data creators on our Voronoi app. Download it for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Investment performance can vary widely depending on the time period analyzed. While equities and gold have delivered strong returns in recent years, bonds and some alternative assets have lagged, especially in the post-pandemic era of rising interest rates.
This graphic breaks down annualized returns and volatility across major asset classes over three distinct periods: long-term (1990–2025), mid-term (2010–2025), and the most recent cycle (2020–2025), using data from Goldman Sachs. Global equities and private markets exclude real estate, and data is as of September 2025.
Understanding volatility: Volatility measures how much an investment’s returns fluctuate year to year. For example, a volatility of 10% implies that returns typically move about 10 percentage points above or below the average in a given year. While higher volatility often accompanies higher returns, it also increases the risk of short-term losses.Over the past 35 years, risk assets have significantly outperformed safer alternatives.
| Asset Class | 1990–2025 Return (per annum) | Volatility |
|---|---|---|
| Global equities | 8.1% | 14.7% |
| Global sovereign bonds | 4.3% | 5.8% |
| Corporate bonds | 5.6% | 5.3% |
| Gold | 6.7% | 15.4% |
| Private markets | 10.5% | 21.3% |
| Real estate | 5.7% | 15.1% |
Private markets delivered the strongest annualized returns at 10.5%, although this came with substantial volatility of over 21%. Global equities also performed well, averaging just over 8% annually.
Bonds offered more modest but stable returns, while gold provided diversification benefits with mid-range returns and high volatility.
The period following the Global Financial Crisis was marked by low interest rates and strong equity performance.
| Asset Class | 2010–2025 Return (per annum) | Volatility |
|---|---|---|
| Global equities | 10.5% | 14.4% |
| Global sovereign bonds | 0.9% | 5.2% |
| Corporate bonds | 3.1% | 5.1% |
| Gold | 8.6% | 15.2% |
| Private markets | 9.4% | 22.3% |
| Real estate | 6.6% | 14.0% |
Global equities saw annualized returns rise to 10.5%, while private markets continued to outperform public assets.
In contrast, sovereign bonds struggled as yields compressed, delivering less than 1% annual returns. Gold remained resilient during this era, with prices rising sharply from 2009 to 2012, before falling and stabilizing.
The most recent five-year period highlights a sharp divergence across asset classes.
| Asset Class | 2020–2025 Return (per annum) | Volatility |
|---|---|---|
| Global equities | 12.5% | 16.8% |
| Global sovereign bonds | -1.1% | 5.8% |
| Corporate bonds | 1.3% | 6.3% |
| Gold | 18.4% | 15.4% |
| Private markets | 7.7% | 26.9% |
| Real estate | 1.9% | 17.2% |
Global equities delivered strong returns following the 2020 crash, despite market volatility.
Meanwhile, gold has been the best-performing asset amid rising inflation, geopolitical risks, and elevated interest rates, with prices hitting all-time highs twice since 2020.
Bonds experienced negative real and nominal performance as rapid interest rate hikes eroded prices. Rising inflation and high sovereign debt levels have put downward pressure on sovereign bond prices.
Furthermore, real estate has seen relatively low returns relative to medium- and long-term periods, with high mortgage rates dampening the demand for housing in many major markets.
If you found this infographic interesting, explore more investing and market insights on Voronoi, including The Ups and Downs of Global Markets in 2025
2026-01-14 00:45:00
Levels of economic development differ not only from one country to another, but also dramatically within their own borders.
This visualization, created in partnership with Hinrich Foundation, compares the evenness of economic development within countries, using data from the Fund for Peace.
The analysis comes from the 2025 Sustainable Trade Index (STI), which the Hinrich Foundation produced in collaboration with the IMD World Competitiveness Center.
The Uneven Economic Development Indicator captures both structural and perceived inequalities across groups, focusing on their relative opportunities to improve economic well-being. It serves as a sub-indicator within the Economics category of the Fragile States Index, developed by the Fund for Peace.
This measure examines three core dimensions: economic equality, access to opportunity, and socio-economic dynamics. Economies that demonstrate more balanced and inclusive development tend to score lower on the indicator, reflecting greater stability and resilience.
Canada, New Zealand, and Australia take the lead when it comes to economic evenness. Their strong performance on the Uneven Economic Development indicator stems from robust social safety nets, high levels of human development, and policies designed to redistribute wealth more equitably.
| Rank | Country | Uneven Economic Development (score) | Uneven Economic Development (index) |
|---|---|---|---|
| 1 |
Canada |
100.0 | 2.5 |
| 2 |
New Zealand |
94.4 | 2.8 |
| 3 |
Australia |
92.6 | 2.9 |
| 4 |
South Korea |
88.9 | 3.1 |
| 5 |
Japan |
87.0 | 3.2 |
| 6 |
United Kingdom |
79.6 | 3.6 |
| 6 |
 Vietnam |
79.6 | 3.6 |
| 8 |
 Malaysia |
75.9 | 3.8 |
| 9 |
Singapore |
74.1 | 3.9 |
| 9 |
 United States |
74.1 | 3.9 |
| 11 |
 Thailand |
72.2 | 4.0 |
| 12 |
 Indonesia |
68.5 | 4.2 |
| 13 |
 Chile |
59.3 | 4.7 |
| 14 |
 Philippines |
57.4 | 4.8 |
| 15 |
 Pakistan |
53.7 | 5.0 |
| 16 |
 Russia |
51.9 | 5.1 |
| 17 |
 Laos |
50.0 | 5.2 |
| 18 |
 India |
40.7 | 5.7 |
| 19 |
 Bangladesh |
38.9 | 5.8 |
| 19 |
Mexico |
38.9 | 5.8 |
| 21 |
 Peru |
37.0 | 5.9 |
| 22 |
 Ecuador |
35.2 | 6.0 |
| 23 |
 Sri Lanka |
33.3 | 6.1 |
| 24 |
 China |
31.5 | 6.2 |
| 25 |
 Cambodia |
29.6 | 6.3 |
| 26 |
 Brunei |
18.5 | 6.9 |
| 27 |
 Myanmar |
13.0 | 7.2 |
| 28 |
 Papua New Guinea |
0.0 | 7.9 |
Rounding out the top five are South Korea and Japan, while the United States places further down the list at #9.
In contrast, emerging markets tend to struggle with balanced economic growth. The lowest-ranked countries on this indicator are Papua New Guinea, Myanmar, Brunei, Cambodia, and China—highlighting the challenges these economies face in achieving more even distribution of wealth and opportunity.
This infographic was just a small subset of what the Sustainable Trade Index has to offer. To learn more, visit the Hinrich Foundation, where you can download additional resources including the entire report for free.
Visit the Hinrich Foundation to download the entire report, for free.
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