What is the most important natural resource of Venezuela?

What is the most important resource in Venezuela?

As stated earlier, Venezuela is a major player in the petroleum and natural gas sector. To put it into context, Venezuela’s oil reserves easily trump the combined deposits of the United States, Mexico, and Canada. Since 2010, Venezuela has the world’s largest oil deposits at around 298 million barrels.

What natural resources does Venezuela have an abundance of?

Venezuela has rich resources of gold, nickel, iron ore, steel, diamond, alumina, coal, bauxite, asphalt, natural gas, and petroleum.

Does Venezuela have the most natural resources in the world?

Venezuela has over $14.3 trillion worth of unused natural resources, and a majority of their minerals are state-controlled. Venezuela has the biggest largest oil reserves which are bigger than the reserves in the United States, Mexico and Canada combined.

Why Venezuela is so rich in natural resources?

On the other hand, there is Venezuela, a country rich in resources. It is one the world’s top oil producers at the same time gas prices are soaring. The rich soil and temperate climate allow for productive agriculture and the country is rich in gold and other minerals.

Which country has most natural resources?


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Sr. No. Country Name Main Natural Resources
1 Russia Coal, oil, gold, gas and timber
2 United States Natural gas, gold, copper and oil
3 Saudi Arabia Gas, timber and oil
4 Canada Uranium, timber, oil, phosphate and gas

Why are natural resources important?

Natural resources are used to make food, fuel and raw materials for the production of goods. All of the food that people eat comes from plants or animals. Natural resources such as coal, natural gas and oil provide heat, light and power.