Natural Resources Outlook in Latin America and the Caribbean, 2023

This document offers an analysis of the natural resources situation in Latin America and the Caribbean, with a view to promoting discussions on the role those resources can play in the transition to a development model that is sustainable. Natural resources, both renewable and non-renewable, are crucial to the economic development of the region. Latin America and the Caribbean contains almost 20% of the world’s oil reserves, at least 25% of some strategic metals and over 30% of the world’s virgin forest area. In the region, natural resource-based economic activities account for 12% of value ad…