Value And Trends In World Mineral Trade

For 1991, the aggregate value of world international export trade in mineral commodities was roughly estimated at $685 billion in current 1991 dollars. The estimated level was about 6 % higher than that for 1990, but still more than 3 % below the record high set in 1980, and the year was the fifth in a row in which the value of exported minerals advanced. Table 8 provides a data series for the estimated value of world export trade in all mineral commodities from 1979 through 1991, as well as a breakdown of this total into fuel and non fuel commodities. The data shown are based on the historically more traditional and realistic (from the viewpoint of data availability) practice of reporting trade values for the year before the year of review. Despite the considerable increase in the dollar value of mineral commodity exports, their share of total export merchandise trade declined to 19.1 % in 1990 from 19.7% in 1989. At 19.1 %, this share was very near the recent year record low of 19.0% reached in 1988. Comparable 1991 figures were not available in time for inclusion here, but it is expected that the mineral commodity share of the total will be little altered from that of 1990.