Resources are the endowments of nature which are engines of growth for all countries. They are the ‘boon’ to various countries on the globe. Resources not only boost growth and economic development in the country but also lead to higher degrees of self-dependence on the countries. They tend to lower their reliance on other nations for any form of imports of natural resources because their own endowment is enough for their development. Moreover, given the scarcity of resources, many of which are just enough to last less than a century, possession of these indispensable natural assets has become a necessity. We are living in the era of World Wars, attack threats and inter-country disputes, all basically with the implicit motive to gain the possession of resources. But among the resource rich countries on earth, there exist many others, who have been not as lucky as their counterparts. They lack even in the basic resources of land, oil, coal to name a few. But, quite contrary to our presumptions, these countries have been able to carve a niche for themselves on the global scene. So, here is the list of Top 10 Resource Deprived Countries of the World.
1. Vatican City
Vatican City has the world’s strangest economy, which is almost non-existent and runs on the financial support of Roman Catholics. It has the smallest population of just 840 people and the smallest are of 110 acres. Having absolutely no natural resources of its own, Vatican City is involved in providing financial services to other nations.
2. Costa Rica
Located on the Central American isthmus, Costa Rica is a very small country with virtually no resources at all! Ironically, in Spanish Costa Rica means- “rich” coast. But, despite the scarcity, Costa Rica has managed to be globally recognized for its environment sustainability as well as for having a much higher human development index. A high level of literacy thrives in the country yet it faces the issues of scanty investment and maintenance projects.
3. Switzerland
Well, this name reminds us of the tick-tock of watches and the shine of Rolex. It also overpowers the senses with the taste of Nestle. Yes, it’s Switzerland. Though it’s a very small country and has almost no resources it has managed to achieve high rates of growth. Switzerland does not have a very strong base of heavy industries but it has certainly developed in terms of lightweight commodities production. It relies heavily on import of raw materials and so has to suffer from an unfavourable balance of trade.
4. Belgium
Belgium has forever been overshadowed by developed counterparts in Europe. It has even fallen a step behind in terms of natural resources which are almost non-existent in this small country. But, Belgium has not given up. Besides being a large entrepot, Belgium has the largest diamond cutting industry in the world. It also has a leading manufacturing base in terms of light industries. Though the Euro Zone crisis has made Belgium lose its sheen yet, it remains among the highly developed countries of the world.
5. Taiwan
Economists and Social scientists revere this country. Taiwan practically has nothing to boast of. It even resorts to importing sand and gravel from China to meet its construction demands. In times when wars are waged over oil and natural resources, Taiwan has just some coal and natural gas but no iron ore, no forests, no precious gems. But it has done what others have not. It has made a huge investment in its just human resource of over 20 million. And with their talent, skills and energy and determination, Taiwan has become a leading manufacturing giant in the world today.
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