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Building technological capacities can help countries escape commodity dependence, UN says

Date Time Building technological capacities can help countries escape commodity dependence, UN says Developing countries whose economies depend on commodities must enhance their technological capacities to escape the trap that leaves most of their populations poor and vulnerable, says UNCTAD’s Commodities and Development Report 2021, published on 7 July. About two thirds of developing countries were commodity dependent in 2019, meaning at least 60% of their merchandise export revenues came from primary goods, such as cacao, coffee, cotton, copper, lithium and oil. The report, “Escaping from the commodity dependence trap through technology and innovation”, highlights the correlation between low technology capacities and high commodity dependence.

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