Latin America is a major producer of raw materials, including oil and metals, which are essential to fueling the global economy. Leading these markets is the oil sector, whose production was valued at US$2.2 trillion (million million) in 2022. Among metals, do you know which one generates the most revenue?

ANSWER

Iron. The value of iron production was US$283,000 million in 2022, with Brazil ranking as the world’s second-largest producer, behind Australia. Next comes gold, at US$196,000 million, followed by copper at US$183,000 million. You can see this in this chart from Visual Capitalist.