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2026-01-02 01:36:52

Mapped: Natural Resource Income as a Share of GDP

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Natural resources remain a powerful driver of economic output for many countries. From oil and gas to minerals and forests, these assets can generate enormous income, but they also create vulnerability. This visualization maps natural resource income as a share of GDP, highlighting which economies are most dependent on extracting and selling raw materials.

The data for this visualization comes from the World Bank Group. It measures natural resource rents as a share of GDP in 2021, defined as the economic surplus generated from oil, gas, coal, minerals, and forests after accounting for extraction costs.

Extreme Resource Dependence in Energy Exporters

A small group of countries sits at the extreme end of resource dependence. Libya tops the list, with natural resource rents accounting for 61% of its GDP, reflecting its heavy reliance on oil exports. Iraq, the Democratic Republic of Congo, and the Republic of Congo also derive more than one-third of their economic output from natural resources.

In these economies, government revenues, employment, and foreign exchange earnings are closely tied to global commodity prices.

Rank	Country	Natural Resources Income (% of GDP)
1	Libya	61.03%
2	Iraq	43.45%
3	Democratic Republic of the Congo	38.83%
4	Republic of Congo	37.71%
5	Zambia	35.26%
6	Timor-Leste	34.73%
7	Guyana	33.68%
8	Mongolia	33.14%
9	Iran, Islamic Rep.	30.45%
10	Angola	29.97%
11	Azerbaijan	29.94%
12	Oman	29.21%
13	Papua New Guinea	27.39%
14	Qatar	27.29%
15	Kazakhstan	26.84%
16	Saudi Arabia	25.57%
17	Brunei Darussalam	24.28%
18	Equatorial Guinea	23.50%
19	Algeria	22.59%
20	Liberia	21.92%
21	Chad	21.34%
22	Uzbekistan	20.47%
23	Burkina Faso	20.14%
24	Russia	18.51%
25	Gabon	18.49%
26	Mali	18.42%
27	Solomon Islands	18.40%
28	Cabo Verde	17.66%
29	United Arab Emirates	17.63%
30	Chile	16.90%
31	New Caledonia	16.79%
32	Bahrain	16.64%
33	Mozambique	14.91%
34	Burundi	13.96%
35	Australia	13.36%
36	Ghana	13.35%
37	Sudan	12.75%
38	Peru	12.72%
39	Kyrgyz Republic	11.51%
40	Mauritania	11.45%
41	Somalia	11.24%
42	Guinea-Bissau	10.43%
43	Central African Republic	10.26%
44	Norway	10.05%
45	Suriname	9.59%
46	Bolivia	9.47%
47	Tajikistan	9.05%
48	Sierra Leone	9.04%
49	Myanmar	8.68%
50	Nigeria	8.55%
51	Brazil	7.94%
52	Togo	7.86%
53	Trinidad and Tobago	7.86%
54	Ukraine	7.51%
55	Uganda	7.48%
56	South Africa	7.33%
57	Armenia	7.05%
58	Malaysia	6.92%
59	Ecuador	6.70%
60	Tanzania	6.69%
61	Niger	6.41%
62	Zimbabwe	6.40%
63	Ethiopia	5.87%
64	Madagascar	5.53%
65	Cameroon	5.53%
66	Lao PDR	5.38%
67	Colombia	5.32%
68	Indonesia	5.16%
69	Egypt	5.14%
70	Canada	4.95%
71	Cote d'Ivoire	4.74%
72	Guinea	4.52%
73	Senegal	4.40%
74	Lesotho	4.32%
75	Malawi	4.22%
76	Namibia	4.03%
77	Rwanda	4.02%
78	Nicaragua	3.84%
79	Panama	3.66%
80	Mexico	3.64%
81	India	3.16%
82	Eswatini	3.00%
83	Gambia, The	2.86%
84	Bhutan	2.73%
85	Argentina	2.65%
86	Viet Nam	2.55%
87	Benin	2.30%
88	Fiji	2.25%
89	Tunisia	2.25%
90	Dominican Republic	2.08%
91	Philippines	1.97%
92	Guatemala	1.93%
93	Uruguay	1.93%
94	Sao Tome and Principe	1.88%
95	Belarus	1.86%
96	Thailand	1.82%
97	Serbia	1.75%
98	Estonia	1.72%
99	China	1.71%
100	Comoros	1.63%
101	New Zealand	1.49%
102	Albania	1.44%
103	Pakistan	1.44%
104	Georgia	1.39%
105	Paraguay	1.35%
106	United States	1.28%
107	Kenya	1.23%
108	Honduras	1.22%
109	Sweden	1.21%
110	Latvia	1.17%
111	Romania	1.14%
112	Botswana	1.04%
113	Poland	1.03%
114	Kosovo	0.93%
115	Bulgaria	0.92%
116	Cambodia	0.84%
117	Turkiye	0.83%
118	Bosnia and Herzegovina	0.81%
119	Costa Rica	0.76%
120	Croatia	0.68%
121	Montenegro	0.64%
122	Bangladesh	0.61%
123	United Kingdom	0.59%
124	Vanuatu	0.57%
125	El Salvador	0.54%
126	Belize	0.52%
127	Nepal	0.50%
128	Jamaica	0.46%
129	Finland	0.45%
130	Israel	0.44%
131	Afghanistan	0.43%
132	Hungary	0.40%
133	Czechia	0.39%
134	Morocco	0.39%
135	Netherlands	0.34%
136	Denmark	0.34%
137	Barbados	0.33%
138	Haiti	0.33%
139	Portugal	0.29%
140	Lithuania	0.29%
141	Samoa	0.28%
142	Djibouti	0.28%
143	Moldova	0.24%
144	Slovak Republic	0.23%
145	Slovenia	0.19%
146	North Macedonia	0.14%
147	Seychelles	0.12%
148	Austria	0.12%
149	Spain	0.12%
150	Italy	0.11%
151	Ireland	0.10%
152	Greece	0.09%
153	Sri Lanka	0.08%
154	Jordan	0.08%
155	Germany	0.08%
156	Korea, Rep.	0.05%
157	Japan	0.05%
158	Belgium	0.04%
159	Kiribati	0.04%
160	Tonga	0.04%
161	Dominica	0.03%
162	France	0.03%
163	St. Vincent and the Grenadines	0.02%
164	Micronesia, Fed. Sts.	0.02%
165	The Bahamas	0.01%
166	St. Lucia	0.01%
167	Cyprus	0.01%
168	Switzerland	0.01%
169	Luxembourg	0.00%
170	Maldives	0.00%
171	French Polynesia	0.00%
172	Turks and Caicos Islands	0.00%
173	Lebanon	0.00%
174	Mauritius	0.00%
175	Aruba	0.00%
176	Hong Kong	0.00%
177	Macao	0.00%
178	Singapore	0.00%
179	Iceland	0.00%
180	Andorra	0.00%
181	Antigua and Barbuda	0.00%
182	American Samoa	0.00%
183	Bermuda	0.00%
184	Cuba	0.00%
185	Curacao	0.00%
186	Eritrea	0.00%
187	Faroe Islands	0.00%
188	Grenada	0.00%
189	Gibraltar	0.00%
190	Greenland	0.00%
191	Guam	0.00%
192	Isle of Man	0.00%
193	Channel Islands	0.00%
194	St. Kitts and Nevis	0.00%
195	North Korea	0.00%
196	Kuwait	0.00%
197	Cayman Islands	0.00%
198	Liechtenstein	0.00%
199	Monaco	0.00%
200	St. Martin (French part)	0.00%
201	Marshall Islands	0.00%
202	Northern Mariana Islands	0.00%
203	Malta	0.00%
204	Nauru	0.00%
205	Puerto Rico (U.S.)	0.00%
206	West Bank and Gaza	0.00%
207	Palau	0.00%
208	San Marino	0.00%
209	South Sudan	0.00%
210	Sint Maarten (Dutch part)	0.00%
211	Syrian Arab Republic	0.00%
212	Turkmenistan	0.00%
213	Tuvalu	0.00%
214	Venezuela, RB	0.00%
215	British Virgin Islands	0.00%
216	Virgin Islands (U.S.)	0.00%
217	Yemen, Rep.	0.00%

Many of the most resource-dependent countries are concentrated in the Middle East and Africa. Oil- and gas-rich nations such as Iran, Angola, Oman, Qatar, and Saudi Arabia feature prominently.

In sub-Saharan Africa, mineral exporters like Zambia and Mongolia, along with oil producers such as Equatorial Guinea and Chad, rely heavily on resource rents.

Advanced Economies Show Low Resource Reliance

In contrast, most advanced economies generate only a small share of GDP from natural resources. Countries such as the United States, Germany, Japan, France, and the United Kingdom all register resource rents near or below 1% of GDP.

Even resource-rich developed nations like Norway and Australia show relatively moderate dependence, reflecting diversified economies with strong manufacturing and services sectors.

Learn More on the Voronoi App

If you enjoyed today’s post, check out Global GDP Growth Projections in 2025 on Voronoi, the new app from Visual Capitalist.

2026-01-01 23:12:37

Top 20 Central Banks Ranked by Total Assets (Q3 2025)

Global central banks play a critical role in shaping economic stability and monetary policy. Their balance sheets, often stacked with government securities, foreign reserves, and other financial instruments, offer a window into their financial firepower and strategic priorities.

The latest data from the Bank for International Settlements (BIS) reveals the world’s largest central banks by total assets as of Q3 2025. This ranking reflects not only the size of the underlying economies but also differences in monetary policy strategies, levels of quantitative easing, and foreign exchange interventions.

Central Bank Assets: A Breakdown

Here’s a look at the top 20 central banks by assets held:

Rank	Central Bank Location	Total Assets (billion $USD)
1	Euro Area	7,130
2	China	6,621
3	U.S.	6,587
4	Japan	4,517
5	Switzerland	1,108
6	United Kingdom	1,001
7	India	911
8	Brazil	898
9	Singapore	610
10	Hong Kong	534
11	Saudi Arabia	515
12	South Korea	410
13	Thailand	309
14	Poland	303
15	Mexico	296
16	Türkiye	289
17	United Arab Emirates	276
18	Indonesia	272
19	Australia	263
20	Israel	259

At the top of the list is the Euro Area with $7.13 trillion in total assets, followed closely by China ($6.62 trillion) and the United States ($6.59 trillion).

These three collectively hold over half of the world’s central bank assets. Switzerland, despite its smaller population, holds over $1.1 trillion, which is an outsized figure driven by foreign exchange interventions and reserve accumulation.

What Are Central Bank Assets, Exactly?

Central bank assets represent everything from gold and foreign currency reserves to government bonds and loans to financial institutions. These reserves serve as the foundation for a central bank’s monetary operations and its ability to influence interest rates, control inflation, and stabilize currency values.

Central banks are increasingly expected to act, not only as lenders of last resort, but also as stabilizers of financial markets through asset purchases and liquidity facilities.

The Rise of Emerging Markets

While developed economies dominate the top of the list, emerging markets are gaining ground. India’s Reserve Bank holds $911 billion in assets, and Brazil is close behind with $898 billion. Saudi Arabia, with $515 billion, reflects its massive energy-driven surplus and the management of its sovereign wealth and currency peg.

This financial clout feeds into broader global power dynamics. For example, central bank reserves help back a country’s currency in international trade. In this light, countries with large reserves wield more influence over the global economy. As seen in our article Ranking the World’s Most Powerful Reserve Currencies, reserve-backed assets play a foundational role in global finance.

Final Thoughts

While total asset size doesn’t measure GDP or productivity, it reveals how much firepower a central bank has to stabilize markets or influence exchange rates.

Countries with larger asset bases have more levers to manage financial shocks. As we head into a new phase of monetary tightening and shifting global capital flows, understanding these asset levels offers insight into which economies are best positioned to weather future volatility.

2026-01-01 21:05:52

How Global Economic Power Shifted (1980–2025)

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Over the past four decades, the global economic hierarchy has undergone profound change.

Some economies have grown steadily, others have surged, and a few have slipped down the rankings as new players emerged.

This visualization charts the world’s top economies from 1980 to 2025. The data for this visualization comes from the IMF’s World Economic Outlook (October 2025). GDP figures are measured in current U.S. dollars and are not adjusted for inflation.

The United States Remains on Top

Since 1980, the United States has consistently ranked as the world’s largest economy. Its GDP rose from about $2.9 trillion in 1980 to more than $30.6 trillion by 2025. While its global share has fluctuated, the U.S. has maintained its lead due to a large domestic market, deep capital markets, and sustained productivity growth.

China represents the most dramatic structural change in the global economy over the past 45 years.

Rank	1980	GDP ($bn)	2000	GDP ($bn)	2025	GDP ($bn)
1	U.S.	2,857	U.S.	10,251	U.S.	30,616
2	Japan	1,129	Japan	4,968	China	19,399
3	Germany	857	Germany	1,968	Germany	5,014
4	France	695	UK	1,669	Japan	4,280
5	UK	605	France	1,362	India	4,125
6	Italy	480	China	1,220	UK	3,959
7	China	304	Italy	1,150	France	3,362
8	Canada	276	Canada	745	Italy	2,544
9	Mexico	242	Mexico	742	Russia	2,541
10	Argentina	234	Brazil	655	Canada	2,284

In 1980, it ranked outside the top five, with GDP just over $300 billion. By 2010, China had already surpassed Germany and Japan, and by 2025 it stands firmly as the world’s second-largest economy at nearly $19.4 trillion.

Japan dominated the global economy in the late 1980s and early 1990s, briefly narrowing the gap with the United States. However, slower growth and demographic headwinds caused it to lose ground, falling to fourth place by 2025.

Europe’s largest economies—Germany, the United Kingdom, and France—have remained among the top 10.

Emerging Markets Gain Ground

Beyond China, several emerging economies climbed into the top ranks. India’s GDP expanded from under $200 billion in 1980 to more than $4.1 trillion in 2025, placing it among the world’s five largest economies.

Outside of the top 10, countries such as Brazil, Mexico, Indonesia, and Türkiye have also moved up the rankings, reflecting faster growth than many advanced economies over the long run.

Learn More on the Voronoi App

If you enjoyed today’s post, check out Global GDP Growth Projections in 2025 on Voronoi, the new app from Visual Capitalist.

2026-01-01 02:24:31

Charted: Declining Fertility Rates in OECD Countries (1950-2025)

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Fertility rates are collapsing faster than expected around the world.

In Mexico, years of declining fertility rates have pushed average births per woman to 1.9, down from 6.7 in 1950. Moreover, fertility rates in Costa Rica are lower than the U.S., standing at 1.3 births per woman.

This graphic shows total fertility rates in OECD countries compared to 1950, based on data from the United Nation’s World Population Prospects: The 2024 Revision.

A Closer Look at Declining Fertility Rates

Below, we show the total fertility rates of countries, which represents the average number of children a woman would have in her lifetime if current birth rates remain constant.

Country	Total Fertility Rate 1950	Total Fertility Rate 2025	Change 1950 to 2025
South Korea	6.1	0.7	-5.4
Chile	4.8	1.1	-3.7
Italy	2.5	1.2	-1.3
Lithuania	2.7	1.2	-1.5
Japan	3.6	1.2	-2.4
Spain	2.5	1.2	-1.3
Finland	3.2	1.3	-1.9
Poland	3.7	1.3	-2.4
Costa Rica	6.3	1.3	-5.0
Austria	2.1	1.3	-0.8
Canada	3.4	1.3	-2.1
Greece	2.6	1.3	-1.3
Latvia	2.1	1.3	-0.8
Estonia	2.3	1.4	-0.9
Belgium	2.3	1.4	-0.9
Luxembourg	2.0	1.4	-0.6
Norway	2.5	1.4	-1.1
Sweden	2.3	1.4	-0.9
Netherlands	3.1	1.4	-1.7
Switzerland	2.4	1.4	-1.0
Germany	2.2	1.5	-0.7
Czechia	2.8	1.5	-1.3
Hungary	2.6	1.5	-1.1
Iceland	3.9	1.5	-2.4
Portugal	3.2	1.5	-1.7
Denmark	2.6	1.5	-1.1
United Kingdom	2.2	1.5	-0.7
Slovakia	3.6	1.6	-2.0
Slovenia	3.0	1.6	-1.4
Ireland	3.5	1.6	-1.9
Colombia	6.4	1.6	-4.8
Türkiye	6.5	1.6	-4.9
United States	3.1	1.6	-1.5
France	3.0	1.6	-1.4
Australia	3.1	1.6	-1.5
New Zealand	3.6	1.6	-2.0
Mexico	6.7	1.9	-4.8
Israel	4.6	2.8	-1.8

South Korea’s average fertility rate has plummeted from 6.1 births per woman in 1950 to 0.7 today, one of the fastest declines globally.

Fertility rates in the country fell below the replacement level more than 40 years ago and have steadily declined since. Among the factors driving down birth rates are high childbearing costs, workplace barriers, and a rigid work culture.

As we can see, Chile has the second-lowest total fertility rate in the OECD, at 1.1 births per woman, falling below Japan. In 1950, the total fertility rate was 4.8—higher than the majority of OECD countries.

Meanwhile, Italy faces the lowest fertility rate among European countries, at 1.2 births per woman, and France has the highest at 1.6.

Similarly, the U.S. sits on the higher end of the pack, with 1.6 births per woman, even as fertility rates hit record lows. Overall, only two OECD countries—Mexico and Israel—have higher fertility rates.

Learn More on the Voronoi App

To learn more about this topic, check out this graphic on falling fertility rates of the world’s 10 biggest countries.

2025-12-31 23:03:07

Mapped: The Most Populated Cities in the Middle East

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The Middle East is home to some of the world’s fastest-growing and most densely populated cities. Rapid population growth, rural-to-urban migration, and economic concentration have driven major cities to expand well beyond their historic cores.

This map highlights the most populated cities in the region in 2025. The data for this visualization comes from the United Nations.

Cairo Stands Alone at the Top

Cairo ranks as the Middle East’s most populated city, with more than 25.5 million residents in 2025. The Egyptian capital has expanded steadily for decades, driven by high birth rates and sustained migration from rural areas. Alexandria and several other Egyptian cities also rank highly.

Rank	Location	City	2025 population
1	Egypt	Al-Qahirah (Cairo)	25,566,000
2	Türkiye	Istanbul	15,015,000
3	Iran	Tehrān (Tehran)	9,175,000
4	Egypt	Alexandria	7,267,000
5	Saudi Arabia	Ar-Riyāḑ (Riyadh)	6,916,000
6	Jordan	Ammān (Amman)	6,404,000
7	Iraq	Baghdād (Baghdad)	6,391,000
8	Iran	Mashhad	5,398,000
9	United Arab Emirates	Dubai	5,284,000
10	Syria	Dimashq (Damascus)	4,288,000
11	Saudi Arabia	Jeddah	4,284,000
12	Kuwait	Al Kuwayt (Kuwait City)	4,265,000
13	Egypt	Luxor	4,188,000
14	Yemen	Şan'ā' (Sana'a)	4,019,000
15	Türkiye	Ankara	3,612,000
16	Iran	Karaj	3,599,000
17	Syria	Aleppo	2,922,000
18	Türkiye	Izmir	2,650,000
19	Israel	Tel Aviv	2,643,000
20	Saudi Arabia	Dammam	2,336,000
21	Türkiye	Bursa	2,282,000
22	Qatar	Ad-Dawhah (Doha)	2,194,000
23	Egypt	Banha	2,089,000
24	Iraq	Basra	2,034,000
25	Iran	Isfahan	1,844,000
26	Lebanon	Bayrūt (Beirut)	1,794,000
27	Egypt	El Mansura	1,713,000
28	Saudi Arabia	Mecca	1,692,000
29	Iraq	Mosul	1,665,000
30	Iran	Ahwaz	1,639,000

Türkiye and Iran Anchor Urban Growth

Türkiye places multiple cities in the top 20, led by Istanbul with over 15 million people, followed by Ankara and Izmir.

Iran also features prominently, with Tehran, Mashhad, Isfahan, and several secondary cities reflecting the country’s large population and relatively balanced urban network.

Gulf Cities Punch Above Their Weight

Several Gulf cities appear high on the list despite much smaller national populations. Riyadh, Dubai, Jeddah, Doha, and Kuwait City have grown rapidly over the past two decades, fueled by economic diversification, infrastructure investment, and foreign labor inflows.

While smaller than Cairo or Istanbul, their growth rates remain among the fastest in the region.

Learn More on the Voronoi App

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2025-12-31 20:11:03

Ranked: The Performance of Magnificent Seven Stocks in 2025

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Performance across the Magnificent Seven stocks showed a clear divergence in 2025.

This year, Google-parent Alphabet has surged above the rest thanks to optimism surrounding its in-house TPU chips and AI tools. In contrast, Amazon posted only single-digit gains amid slowing growth in its cloud computing business over the year.

This graphic shows the performance of Magnificent Seven stocks in 2025, based on data from TradingView.

A Closer Look at the Magnificent Seven Stocks in 2025

As of December 23, Magnificent Seven stocks averaged 27.5% returns in 2025, continuing to outpace the S&P 500 index by a sizable margin:

With 65.8% returns, Alphabet, the world’s most profitable company, surged past Nvidia this year.

Back in 2015, Alphabet began developing Tensor Processing Units (TPUs), designed for AI model training and inferencing. But in recent months, it announced it would begin selling these chips, sending its share price soaring.

Not only is Meta in talks with Alphabet to buy its chips, the company signed a deal with Anthropic PBC to supply tens of thousands of chips to the AI firm.

Nvidia follows with a 40.9% return, well below its 171% gain in 2024 and the 239% surge the year before. Despite doubling revenue year over year, the company is facing intensifying competition from Alphabet, AMD, and Broadcom.

Meanwhile, Apple posted just 8.8% returns. This year, several high-level executives have left the company for other Big Tech firms amid a lackluster AI rollout. Among them is Jony Ive, a key builder of the iPhone, who went to OpenAI in a $6.5 billion pay package.

Learn More on the Voronoi App

To learn more about this topic, check out this graphic on the returns of global stock markets in 2025.