Recent export-import data shows India leading the global market with roughly $3.9 billion in spice exports, representing about 37% of the global share. Vietnam follows closely with nearly $3 billion, capturing around 30%, underscoring a duopoly that now controls well over half of global spice exports.

Industry data confirms the trend. India remains the world’s largest producer, consumer and exporter of spices, shipping products to more than 150 countries and generating over $4.7 billion in export value in recent years. Vietnam, meanwhile, has carved out a strong position through high-volume exports of black pepper and cinnamon, with exports reaching billions of dollars annually.

What this really means is that the global spice trade is no longer broadly distributed. Instead, it is increasingly concentrated in a handful of high-performing economies.

India’s strength lies in scale and diversity. The country produces more than 60 of the world’s recognised spice varieties and exports a wide range of products, from chilli and turmeric to cumin and spice oils . Its long-established supply chains and strong agricultural base have allowed it to maintain leadership even as competition intensifies.

Vietnam, by contrast, has taken a more specialised approach. Its dominance in key segments, such as black pepper, has enabled it to rapidly expand its global footprint, supported by efficient production systems and export-focused policies .

Beyond the top two, the market drops sharply. Mexico ranks third with about $1 billion in exports, followed by Peru, Uzbekistan and Pakistan, each contributing a far smaller share. Other players such as Chile, Turkey and Colombia maintain niche positions, while Ethiopia rounds out the top ten with a minimal share of the global market.

Global spice production has reached more than 6 million metric tonnes in recent years, with demand driven by shifting consumer preferences, growing interest in health-focused ingredients, and the growth of processed foods.

At the same time, the trade remains vulnerable to disruption. Climate change, supply chain bottlenecks and quality control issues continue to pose risks, particularly for countries heavily reliant on agricultural exports.

Recent figures show that the worldwide total reached approximately 101.7 million colonies in 2024, marking a 46.6% increase compared with 1990 levels. The expansion reflects rising demand for pollination services and honey production, particularly in developing economies.

Asia accounts for the largest share, with around 45.2 million colonies, nearly half of the global total, and the fastest long-term growth rate at over 95% since 1990. China, the world’s leading honey producer, has been a major driver of this increase, supported by large-scale commercial beekeeping and agricultural intensification.

Europe remains the second-largest region, with about 25.4 million colonies, though growth has been more modest at just over 13%. Despite stable overall numbers, several European countries have reported periodic colony losses linked to factors such as pesticide exposure, habitat loss and climate change, according to FAO assessments.

Africa has seen a notable rise, with colony numbers climbing nearly 38% to 18.5 million . FAO data suggests that traditional and smallholder beekeeping systems continue to underpin growth across the continent, where honey production plays a key role in rural livelihoods.

In the Americas, colonies increased by around 20% to 11.6 million. However, the United States and parts of Latin America have faced well-documented challenges, including colony collapse disorder and disease, which have offset stronger gains elsewhere in the region.

Oceania, while accounting for the smallest share at roughly 1.1 million colonies, recorded a 44.7% increase over the same period.

The FAO notes that while global colony numbers are rising, this does not necessarily indicate improving bee health . In several advanced agricultural systems, higher colony counts are often maintained through intensive management practices, including artificial feeding and replacement of lost colonies.

Pollinators such as honey bees are critical to global food production, contributing to the reproduction of around 75% of crop species worldwide, according to FAO estimates. Their economic value is measured in hundreds of billions of dollars annually.

The United States exported roughly 4.0 million barrels per day (bpd) of crude oil in 2025, a 3% drop from the previous year despite record domestic production of 13.6 million bpd, the EIA said.

The Netherlands topped the list of U.S. oil importers, purchasing about 419 million barrels in 2025, accounting for roughly 10.7% of total exports.

Much of that oil flows through Rotterdam, one of the world’s largest energy hubs, where crude is refined or redistributed across Europe.

Mexico followed closely with 398 million barrels, while Canada ranked third at 324 million barrels, highlighting the continued strength of North American energy trade ties.

Other major buyers included South Korea, Japan, China and India, reflecting sustained demand from Asia even as regional flows shifted.

Top buyers of U.S. oil in 2025 (millions of barrels)

Europe remains dominant market

Europe has been the leading destination for U.S. crude since 2023, driven largely by efforts to replace Russian supplies following the Ukraine war.

However, exports to Europe fell by around 7% in 2025 as higher output from OPEC countries displaced some U.S. volumes.

Within the region, the United Kingdom recorded one of the steepest declines, with imports dropping roughly 35%, while the Netherlands increased purchases, offsetting some of the regional fall.

Exports to Asia and Oceania also weakened , particularly to China and Singapore. U.S. shipments to China plunged sharply amid trade tensions and competition from discounted oil supplied by countries such as Russia and Iran.

By contrast, India and Japan increased imports of U.S. crude, signalling a partial rebalancing of demand within the region.

Despite the 2025 decline, U.S. crude exports remain historically high. Since the lifting of a decades-long export ban in 2015, shipments have surged dramatically, rising to levels roughly 85 times higher than in 2011.

The United States has also maintained its status as a net petroleum exporter in recent years, reflecting strong production growth and expanding infrastructure.

China is shown as the largest single destination, taking roughly 23% of flows, followed by India at 13%, with Japan, South Korea and Southeast Asia also accounting for significant shares.

According to the U.S. Energy Information Administration , around 84% of crude oil and condensate shipped through the Strait of Hormuz in 2024 was destined for Asian countries.

China, India, Japan and South Korea alone accounted for roughly 69% of total flows, making them the most exposed to any disruption.

The International Energy Agency estimates that nearly a third of globally traded crude oil passes through the strait, with China and India together receiving about 44% of these exports.

The Strait of Hormuz handles around 20 million barrels of oil per day, roughly a fifth of global petroleum consumption, making it the most important oil transit chokepoint in the world.

It also carries a significant share of global liquefied natural gas, particularly exports from Qatar, one of the world’s largest LNG suppliers.

Despite its importance, alternatives remain limited. Pipelines in Saudi Arabia and the United Arab Emirates can bypass part of the route, but cannot fully replace their capacity in the event of a disruption.

By contrast to Asia, Western economies account for a much smaller share of direct imports.

The United States and Europe together receive less than 10% of oil flows through the strait, reflecting increased domestic production in the U.S. and diversified supply chains in Europe.

In 2024, the U.S. imported only about 7% of its crude oil from Persian Gulf countries via the strait, highlighting its reduced dependence compared with previous decades.

The Strait’s strategic importance has made it a recurring focal point of geopolitical tension.

Recent conflicts involving Iran, Israel, and the USA have once again highlighted the vulnerability of global energy supply chains, with shipping disruptions triggering price volatility and raising fears of broader economic fallout.

A new global comparison shows that consumers in parts of Asia and emerging markets pay significantly less for a dozen eggs than those in wealthier economies, where prices have surged in recent years due to inflation and supply disruptions.

India tops the list as the cheapest country for eggs, with a dozen large eggs costing approximately $0.91, according to Numbeo’s latest cost-of-living dataset.

Other low-cost countries include:

These figures align with Global Product Prices data, which also shows that many developing economies offer eggs at well under $2 per dozen, making them an accessible source of protein for large populations.

The data points to a clear trend where egg prices are lowest in countries with lower production costs, including cheaper labour, feed and land.

In countries such as Vietnam, Indonesia and Nepal, prices range between $1.48 and $1.52 per dozen, reinforcing Asia’s dominance in low-cost egg production.

Analysts note that eggs remain a staple protein source in these regions, contributing to steady domestic demand and large-scale local production.

According to Global Product Prices , nations such as Switzerland, Australia and New Zealand rank among the most expensive, with prices reaching $6 to $8 per dozen, on the contrary.

Numbeo data similarly shows significant price gaps, with some European and Western markets charging several times more than countries like India or Pakistan.

Egg prices have become a global economic indicator, reflecting broader food inflation trends. In recent years, supply shocks, including avian influenza outbreaks, have pushed prices higher in several major markets.

In the United States, for example, egg prices have surged amid supply shortages and rising costs, illustrating how vulnerable the market is to disruptions.

China is projected to remain the world ’s largest cotton producer, accounting for 29% of global output, or around 7.7 million tonnes, according to USDA Foreign Agricultural Service (FAS) estimates for the 2025/26 marketing year.

The country’s dominance is driven by highly mechanised production in regions such as Xinjiang, which has become the centre of China’s cotton industry. USDA data shows China consistently ranks as both the top producer and consumer of cotton globally, reflecting strong domestic demand from its textile sector.

India is expected to produce 5.1 million tonnes, representing 19% of global supply, maintaining its position as the second-largest producer. However, yields remain sensitive to monsoon variability, a factor that continues to shape output volatility, according to Trading Economics agricultural data trends.

Brazil, now firmly established as a global agricultural powerhouse, is projected to contribute 4.2 million tonnes (16%), benefitting from large-scale, export-oriented farming and rising productivity. USDA data indicates Brazil has steadily increased its share of global cotton exports over the past decade.

The United States is forecast to produce 3.0 million tonnes (12%), ranking fourth globally. While not the largest producer, the US remains the world’s leading cotton exporter, supplying key markets in Asia, particularly China, Vietnam and Bangladesh.

Trading Economics data highlights that US cotton production is influenced by weather patterns, especially drought conditions in major producing states such as Texas.

Beyond the top four, several countries contribute smaller but still significant shares:

These producers play important roles in regional supply chains, particularly in Asia and Europe .

The Chicago-headquartered group reported confectionery sales of $38.5 billion, maintaining a clear lead over rival Mars Inc., which posted $36 billion in revenue from its sprawling snacks division.

Italian firm Ferrero Group secured third place with $22.2 billion, while The Hershey Company and Nestlé rounded out the top five with $11.7 billion and $11 billion respectively, underscoring continued dominance by a handful of multinational players.

The latest rankings highlight the enduring influence of a small cluster of global heavyweights often referred to as “Big Chocolate”, including Mondelēz, Mars, Ferrero, Hershey and Nestlé, which collectively command a significant share of global confectionery revenue.

These companies benefit from vast manufacturing networks, strong brand portfolios and global distribution systems, allowing them to maintain scale advantages even as consumer tastes evolve.

Beyond the top five, Japan ’s Meiji Co., Switzerland’s Lindt & Sprüngli, Germany’s Haribo, Italy-based Perfetti Van Melle and UK-based Pladis complete the top 10 list, reflecting a mix of heritage European brands and Asian growth players.

The rankings come against a backdrop of steady growth in the global candy market, which is valued at approximately $78.8 billion in 2026 and projected to reach nearly $99 billion by 2031.

Manufacturers are increasingly responding to changing consumer preferences, including demand for premium products, reduced-sugar formulations and plant-based ingredients.

Digital commerce is also reshaping distribution, with online candy sales growing steadily as companies expand direct-to-consumer channels.

At the same time, emerging markets in Asia-Pacific are driving future growth, supported by rising incomes and urbanisation, even as Europe and North America remain the largest revenue centres.

Recent data from Numbeo and GlobalProductPrices show that consumers in Switzerland now pay around $7.73 for a dozen large eggs, the highest globally, followed by New Zealand at roughly $6.19 and Puerto Rico at $5.64. Denmark, the Netherlands and Luxembourg also rank among the most expensive markets, reflecting broader cost pressures across high-income economies.

While European and developed markets dominate the top tier, prices in countries such as India, Pakistan and Nigeria remain below $2 per dozen, highlighting wide gaps in production costs, labour and purchasing power.

At the centre of the price spike is a prolonged outbreak of highly pathogenic avian influenza, commonly known as bird flu , which decimated poultry flocks worldwide in 2024 and 2025. Millions of egg-laying hens have been culled to contain the disease, sharply reducing supply and pushing prices higher.

In the United States alone, egg supply fell by as much as 15–20% during peak outbreaks, contributing to price spikes that exceeded $6–$8 per dozen in some regions.

The economic mechanics are straightforward, as fewer hens mean fewer eggs, creating a supply deficit that drives prices upward in a market where demand remains relatively inelastic.

Beyond disease outbreaks, producers are grappling with escalating input costs. Feed prices, particularly for corn and soybean meal, along with higher energy, transport and labour costs, have significantly increased the cost of egg production globally.

Regulatory changes are also playing a role. In countries such as Switzerland and New Zealand, stricter animal welfare standards and transitions to cage-free farming systems have raised operational costs, which are ultimately passed on to consumers.

Faced with persistent volatility, producers are investing heavily in biosecurity measures and rebuilding flocks, though recovery remains slow because hens require time to mature and resume laying.

Exporters and importers, meanwhile, are adapting trade flows to stabilise supply. Governments in some countries are exploring increased egg imports and financial support for farmers to cushion the impact of shortages and price swings.

Retailers and food manufacturers have also adjusted, introducing purchase limits and reformulating products to reduce reliance on eggs amid elevated prices.

In 2015, China led Asia’s tourism sector by a wide margin, attracting around 56.9 million international arrivals, according to data compiled by CEOWORLD Magazine. Thailand followed with 29.9 million visitors, while Hong Kong, Malaysia and Japan rounded out the top five.

At the time, China’s vast domestic infrastructure, cultural landmarks and major cities such as Beijing and Shanghai made it the region’s dominant tourism hub.

But a decade later, the picture looks very different.

By 2025, Malaysia took the top spot with approximately 28.2 million international arrivals, according to the Asia Golf Journey tourism report . Thailand remains a close second at 24.1 million, while emerging destinations such as Vietnam and Indonesia have climbed the rankings.

Vietnam, in particular, has surged to third place with 15.4 million visitors, reflecting strong growth driven by visa reforms, competitive pricing and expanding international flight connections.

Indonesia and Cambodia have also entered the top five, signalling a broader regional shift toward diverse, experience-driven travel.

Indonesia recorded about 10 million arrivals in 2025, boosted by destinations such as Bali and Jakarta, while Cambodia attracted just over 4 million tourists, supported by cultural tourism centred on Angkor Wat.

One of the factors that explains the changing rankings is that travel behaviour has evolved, with tourists increasingly seeking affordable, less crowded and culturally immersive destinations. Southeast Asia has capitalised on this trend, offering competitive pricing, simplified visa policies and aggressive tourism marketing.

At the same time, China’s inbound tourism recovery has been slower following pandemic-related restrictions, while Hong Kong’s visitor numbers have also faced structural changes.

Malaysia’s rise reflects a deliberate strategy to position itself as a regional tourism hub, combining infrastructure investment with targeted campaigns to attract international visitors.

The latest figures highlight how Asia’s tourism sector is becoming more competitive and decentralised.

No single country now dominates the region in the way China did a decade ago. Instead, multiple destinations are sharing the spotlight, each leveraging unique strengths, from Thailand’s beaches to Vietnam’s rapid development.

Political divisions are sharpening after opposition leader Fred M’membe declared that the upcoming August elections will be a “sham” , raising concerns about electoral transparency and fairness. The remarks add to a growing chorus of criticism from opposition figures, who argue that the electoral environment remains uneven. Meanwhile, political realignments are underway, with Brian Mundubile facing public scrutiny after Justice Minister Mulambo Haimbe Mwiimbu stated that “no one is above the law,” signalling a tougher stance on accountability. At the constituency level, Chato announced plans to contest in Bwacha North following electoral boundary delimitation, highlighting how redistricting is reshaping the political landscape.

Calls for opposition unity intensify

Amid the rising tensions, political figure Mwamba has urged Makebi Zulu to help unify the Patriotic Front (PF) and broader opposition forces ahead of the polls. Analysts say fragmentation within opposition ranks could weaken their chances in what is expected to be a highly contested election cycle.

Hichilema reaffirms anti-war position

On the international stage, President Hakainde Hichilema reiterated Zambia’s anti-war stance during engagements with the European Union, positioning the country as a voice for peace and diplomacy. The statement aligns with Zambia’s broader foreign policy approach, which emphasises multilateral cooperation and regional stability.

EU pledges $57 million for railway rehabilitation

In a boost to Zambia’s infrastructure ambitions, the European Union pledged an additional €50 million to support the rehabilitation of Zambia Railways. The funding is expected to enhance transport efficiency , lower logistics costs, and improve trade competitiveness, particularly for the mining sector. Officials say modernising rail infrastructure is critical to unlocking economic growth and reducing reliance on road transport.

Digital and economic growth gains momentum

Zambia’s economic outlook is also being shaped by rising business activity and calls for technological investment. The number of registered business establishments has surpassed 480,000, reflecting steady entrepreneurial growth and expanding private sector participation. At the same time, the Smart Zambia initiative has called for increased investment in digital infrastructure, highlighting the need to modernise public services and improve connectivity.

Data compiled from energy agencies and industry analyses, including the U.S. Energy Information Administration (EIA), show the U.S. has held the top spot since 2023 , overtaking long-time leader Qatar and reshaping global gas supply dynamics.

The LNG industry has undergone several distinct phases over the past three decades, driven by infrastructure investment, resource discoveries and changing demand patterns.

In the early years, Algeria led global LNG exports between 1990 and 1994, leveraging its pioneering facilities at Arzew. According to Britannica, Algeria was among the first countries to commercialise LNG exports, giving it an early strategic advantage.

That lead faded as newer producers scaled faster. By the mid-1990s, Indonesia took over (1995–2005), supported by large export terminals such as Bontang and Arun, and long-term contracts with Asian buyers, particularly Japan. Industry analyses from Incorrys note that this period coincided with a surge in LNG demand across the Asia-Pacific region.

From 2006 to 2021, Qatar dominated the global LNG market, setting a new benchmark for scale and efficiency.

Backed by the massive North Field, the world ’s largest natural gas reservoir, Qatar expanded production through its Ras Laffan industrial complex. According to industry data and EIA assessments, Qatar at times accounted for over 30% of global LNG supply, cementing its role as the central player in international gas markets.

Its success was built on long-term contracts, cost advantages and the ability to deliver large, consistent volumes to Europe and Asia.

The balance shifted again in 2022, when Australia briefly became the top exporter, driven by major offshore LNG projects including Gorgon, Wheatstone and Ichthys.

However, analysts note that Australia’s lead was short-lived, as production growth plateaued and operational constraints limited further expansion.

Since 2023, the United States has taken the lead, powered by the shale gas revolution and the rapid expansion of LNG export terminals along the Gulf Coast.

According to the U.S. Energy Information Administration, the country’s export capacity has grown sharply in recent years, supported by facilities in Texas and Louisiana. The U.S. model differs from traditional exporters, offering flexible contracts and destination-free cargoes, making it particularly attractive to buyers.

Strong demand from Europe — especially following efforts to reduce reliance on Russian pipeline gas — and continued growth in Asian markets have accelerated U.S. exports.

Geopolitics and demand reshape the market

The shift in LNG leadership reflects broader geopolitical and economic changes.

Britannica notes that LNG plays a critical role in global energy systems by enabling natural gas to be transported across oceans, linking producers and consumers that are not connected by pipelines.

The Made-In-Country Index (MICI), based on surveys of tens of thousands of consumers across dozens of countries, ranked Germany first with a score of 100, followed closely by Switzerland (98) and the United Kingdom (91). The findings highlight how national branding continues to shape consumer trust and purchasing decisions in global markets.

The top tier of the ranking is overwhelmingly European. Sweden (90) placed fourth, while Canada (85) and Italy (84) followed, underscoring the strong association between developed economies and perceived product quality.

Further down the list, Japan, France and the United States were tied with scores of 81, reflecting solid but slightly lower confidence levels among global consumers.

Countries such as the Netherlands (76), Australia (75), and New Zealand and Denmark (73 each) rounded out the ranking, with Austria (72) completing the top group.

Germany’s position at the top aligns with its global industrial profile. According to Forbes, the country’s reputation is anchored in precision engineering, automotive manufacturing, and high-quality industrial goods, sectors that have consistently reinforced trust over decades.

The data underscores that national reputation functions as a form of soft economic power. Products labelled with trusted origins often command price premiums and enjoy stronger brand loyalty.

Forbes notes that countries with strong “Made in” reputations benefit from a halo effect, where even lesser-known brands gain credibility simply by association with their country of origin.

A regional breakdown of agricultural strengths shows Brazil at the forefront, producing major export crops including coffee, soybeans, corn, sugarcane and beef. Argentina follows closely, with strong output in soybeans, corn, wheat and beef, consolidating the Southern Cone’s role as a global breadbasket.

The trend reflects broader projections from Market Data Forecast, which estimates that Latin America’s agriculture market will continue to expand steadily, driven by rising global demand for food, biofuels and agricultural exports.

Brazil and Argentina anchor regional output

Brazil remains the world’s largest producer of coffee and one of the top exporters of soybeans and beef, according to international trade data. Its scale and diversified production base have positioned it as a cornerstone of global food supply chains.

Argentina, meanwhile, plays a pivotal role in global grain markets. As one of the leading exporters of soymeal and corn, the country is a key supplier to both Asian and European markets.

Market Data Forecast notes that strong export demand, coupled with technological adoption in farming, is expected to sustain growth across these sectors in the coming years.

Diverse specialisations across the region

Beyond the largest economies, Latin America’s agricultural landscape is defined by specialisation.

Mexico has built a strong export profile in high-value crops such as avocados, tomatoes and berries, supported by proximity to the United States and favourable trade agreements. The country is now one of the world’s top avocado exporters.

Colombia and Ecuador dominate in tropical commodities. Colombia is globally recognised for its coffee and cut flowers, while Ecuador leads in banana exports and is a major player in shrimp farming.

Peru and Chile have emerged as key exporters of premium agricultural goods. Peru has expanded rapidly in avocados, grapes and asparagus, while Chile’s agricultural sector is anchored by fruit exports, wine production and a globally competitive salmon industry.

According to Market Data Forecast, this diversification is helping the region reduce dependency on a narrow set of commodities, while tapping into higher-margin export markets.

Growing role in global food security

Latin America’s agricultural expansion comes at a time of increasing global concern over food security . The region accounts for a significant share of global exports in soybeans, maize, coffee and beef, making it essential to international supply chains.

Paraguay and Uruguay, though smaller in scale, contribute meaningfully through soybean production, beef exports and dairy products. Costa Rica, meanwhile, continues to supply global markets with coffee, bananas and pineapples.

Market Data Forecast highlights that favourable climate conditions, abundant land resources and increasing investment in agri-tech are strengthening the region’s competitive advantage.

With his younger brother, Robert Budi Hartono, he transformed a modest family tobacco business in Kudus, Central Java, into the Djarum Group, one of Indonesia’s largest conglomerates. 

Its flagship kretek — clove-flavoured cigarettes — became household names, including Djarum Super and Djarum Black, in a country where tens of millions smoke.

Through their holding company, they became controlling shareholders of Bank Central Asia, Indonesia’s largest private lender, and invested in sectors ranging from property and electronics to telecommunications and e-commerce. Their redevelopment of Jakarta’s landmark Hotel Indonesia into the Grand Indonesia complex symbolised that shift from manufacturing to modern urban capital.

Hartono’s fortune was estimated at $18.9 billion in 2026, making him Indonesia’s richest man and one of the world’s wealthiest individuals.

Yet he was equally known in another arena: the card table .

A lifelong bridge enthusiast, Hartono began playing at the age of six and went on to become one of the sport’s most prominent advocates in Southeast Asia. He served as president of the South East Asia Bridge Federation and was instrumental in lobbying for bridge’s inclusion in the 2018 Asian Games in Jakarta.

At those Games, Hartono competed himself, winning a bronze medal in the supermixed team event at the age of 78 — becoming the oldest Indonesian medalist in the competition’s history. 

When awarded a cash prize by the government, he donated it to support the development of bridge.

He often drew parallels between the game and his business career. “First you get the data, the information. You analyse the information, and then you make a decision,” he said. “Business, real life and bridge are the same.”

Born on October 2, 1939, Hartono he inherited the cigarette business after his father’s death in 1963. Over the following decades, he helped turn it into a global brand — but it was at the bridge table, as much as in the boardroom, that he said decisions truly revealed themselves.

Data compiled from CompaniesMarketCap as of March 2026 shows U.S.-based McDonald’s following closely with a valuation of roughly $234 billion, while British multinational Unilever ranks third at around $147 billion.

The rankings highlight how scale, brand strength and global distribution continue to define leadership in the food sector, even as newer business models such as food delivery platforms gain ground.

Nestlé’s lead reflects its diversified portfolio, spanning packaged foods, beverages, nutrition and pet care. The company’s global footprint and ability to adapt products to local markets have helped it maintain a strong valuation despite shifting consumer preferences.

McDonald’s, the world’s largest fast-food chain by revenue, remains a close competitor, driven by its franchising model and consistent global demand. Analysts say its resilience during economic downturns has made it a strong performer in public markets.

Unilever, with a wide range of food and consumer goods brands, continues to benefit from its presence across both developed and emerging markets.

Further down the list, U.S.-based DoorDash, valued at about $80 billion, signals the growing importance of delivery platforms in the food ecosystem. Its inclusion alongside traditional manufacturers points to changing consumption patterns, where convenience and digital access are increasingly central .

Snack and confectionery giant Mondelez International, valued at approximately $75 billion, reflects continued demand for branded packaged foods, particularly in emerging markets.

India’s Hindustan Unilever, with a market capitalisation of nearly $57 billion, stands out as one of the few major players rooted in an emerging economy . Its strong domestic base and distribution network highlight the rising importance of large consumer markets outside the West.

UK-based Compass Group, valued at around $53 billion, represents the food services segment, supplying meals to institutions such as schools, hospitals and corporate clients.

France’s Danone, with a valuation of about $52 billion, remains a key player in dairy and plant-based products, while U.S.-based Chipotle Mexican Grill, at roughly $49 billion, reflects growing investor interest in fast-casual dining.

The Hershey Company, valued at around $46 billion, rounds out the top tier, driven by steady demand in the confectionery segment.

According to CompaniesMarketCap data, the composition of the top food companies shows a balance between legacy multinationals and newer entrants adapting to digital consumption trends.

The findings highlight the continued strength of pickup trucks in the American auto market, where large vehicles remain the top choice for consumers in both rural and urban regions.

The map visualisation illustrating the state-by-state breakdown was produced by The World in Maps with support from Mavin Mapping, using national vehicle sales data and industry reports.

Industry data from GoodCarBadCar and Statista shows the F-Series consistently selling hundreds of thousands of units annually, with more than 750,000 units sold in the United States in 2023 alone, far ahead of competing models.

The vehicle leads sales across large parts of the South, Midwest and Western United States, reflecting the strong popularity of trucks for work, transportation and lifestyle use.

While Ford dominates nationally, several other automakers lead sales in specific regions.

The data shows:

Tesla’s rise reflects broader trends in EV adoption. According to BloombergNEF and the U.S. Department of Energy , electric vehicle sales in the U.S. have surged in recent years, with models such as the Tesla Model Y and Model 3 becoming some of the best-selling electric cars nationwide.

Despite the rise of electric vehicles and compact SUVs, pickup trucks remain deeply embedded in American car culture .

Research from Edmunds and Kelley Blue Book shows trucks consistently account for several of the top-selling vehicles in the U.S. each year, driven by demand from construction, agriculture and outdoor lifestyle markets.

The F-Series in particular has become a symbol of the American automotive industry, combining work capability with consumer appeal.

A regional overview of merchandise imports shows that China ranks as the first, second or third largest import partner across large parts of Europe, highlighting the deep economic ties between Beijing and European economies.

Official statistics from Eurostat show that China remained the European Union’s largest import partner in 2024, accounting for about 21.3% of all extra-EU imports, well ahead of the United States and the United Kingdom.

Total EU imports from China reached roughly €517.8 billion, compared with €213.3 billion in exports to China, creating a trade deficit of more than €300 billion.

Trade rankings suggest that China is the top import partner for several countries in Central and Eastern Europe, including economies such as Poland and Ukraine.

Across much of the region, China consistently appears among the top three sources of imported goods, driven by strong demand for electronics, machinery and industrial components.

According to global trade statistics, China accounted for about 17.5% of global exports, making it the largest exporter worldwide.

On the contrary, some Western European countries show more diversified import relationships.

For example, countries such as France and Spain source significant imports from neighbouring European economies as well as the United States, meaning China ranks outside the top five in some cases.

Even so, the EU and China maintain one of the world ’s largest bilateral trading relationships.

Total EU-China trade in goods reached about €732 billion in 2024, underscoring the scale of economic interdependence between the two markets.

The figures highlight the growing role of school feeding initiatives in tackling hunger, improving child nutrition and boosting school attendance worldwide.

Data summarised by WFP show that large-scale programmes across Asia, Africa, and the Americas collectively reach hundreds of millions of students each year, with developing and emerging economies dominating the list of countries serving the most children.

India’s Midday Meal Scheme, officially known as the PM POSHAN programme, is the largest school feeding initiative globally. It provides cooked meals to primary and secondary school students in government schools nationwide.

According to India’s Ministry of Education and WFP reports, the programme reaches approximately 118 million beneficiaries, making it the most extensive school meal system in the world.

Experts say the initiative plays a critical role in improving educational outcomes.

“School meals increase attendance, reduce malnutrition and support cognitive development,” the World Food Programme says in its global school feeding overview.

Indonesia ranks second globally, with 61.2 million total beneficiaries, including about 49 million students receiving school-only meals, according to data updated on March 3, 2026.

The Indonesian government has been expanding nutrition programmes aimed at tackling childhood stunting and improving learning outcomes.

Large-scale feeding programmes are increasingly seen as a tool to address both poverty and education challenges simultaneously.

Several major economies also operate extensive school feeding systems.

The latest WFP-linked summary shows:

Brazil’s National School Feeding Programme (PNAE) is widely regarded as one of the world’s most comprehensive systems , linking school meals with local agricultural supply chains.

In the United States, the National School Lunch Program, administered by the U.S. Department of Agriculture, provides free or subsidised meals to tens of millions of children each school day.

Beyond the top five, several countries run national programmes feeding millions of students daily.

Other major programmes include:

In Africa, countries such as South Africa, Ethiopia, Tanzania, Kenya and Malawi have also scaled up school feeding programmes to address food insecurity and encourage school attendance.

Nigeria’s National Home-Grown School Feeding Programme, for example, provides meals to nearly 10 million children while supporting local farmers who supply food to schools.

Data compiled from Yum China, Yum Brands and regional franchise reports shows that China hosts around 13,000 KFC outlets, making it by far the company’s biggest market globally. The United States, where Colonel Harland Sanders founded the chain in Kentucky in the 1950s, has more than 4,100 locations, according to company disclosures and franchise data.

The numbers reflect a broader transformation in the fast-food sector, where emerging markets in Asia and Africa are increasingly driving growth for Western restaurant brands.

KFC entered China in 1987, opening its first outlet near Tiananmen Square in Beijing. Since then, the brand has expanded rapidly across the country.

Today, the business is operated by Yum China Holdings, which manages KFC as its largest restaurant brand. The company reported thousands of new outlets across hundreds of Chinese cities, making it the largest quick-service restaurant network in the country.

Industry analysts say KFC’s success in China comes from adapting its menu and strategy to local tastes. In addition to fried chicken, Chinese outlets offer items such as congee, egg tarts, and rice bowls, a localisation approach often cited by restaurant industry analysts.

Despite China’s dominance, the United States remains the historical home of KFC.

Colonel Sanders began franchising his fried chicken recipe in 1952 , eventually building the brand into one of the world ’s most recognisable fast-food chains.

According to Yum Brands, KFC now operates tens of thousands of restaurants across more than 150 countries and territories, making it one of the most widely distributed restaurant brands globally.

However, mature markets like the U.S. have slower growth compared with Asia and emerging economies.

Several Asian countries appear among the top KFC markets worldwide.

Japan has over 1,200 restaurants, while India operates more than 1,100 locations and Thailand roughly 1,150 outlets, according to franchise reports and regional market estimates.

KFC’s popularity in Japan is particularly notable because of its long-standing association with Christmas celebrations, a marketing campaign launched in the 1970s that turned the brand into a holiday tradition.

Indonesia and Malaysia also rank among the top global markets, reflecting the brand’s strong foothold in Southeast Asia .

Outside Asia, South Africa hosts more than 1,000 KFC outlets, making it the largest KFC market on the African continent.

Meanwhile, the United Kingdom and Ireland together operate more than 1,000 restaurants, one of the brand’s strongest markets in Europe.

Australia, with more than 800 locations, remains another major market for the fried chicken chain.

Available data shows the aviation crisis was particularly severe in Iran, where multiple airports experienced near-total shutdowns.

The worst-affected airports were concentrated in Iran, where cancellations reached unprecedented levels.

According to Cirium’s flight schedule analysis:

Aerospace Global News reports that the cancellations stem largely from temporary airspace closures, security concerns, and operational restrictions affecting airline scheduling.

Cirium analysts noted that a cancellation rate above 50% is already considered severe disruption, making the near-total shutdown seen in Iranian airports particularly striking.

While Iran recorded the highest cancellation rates, several airports in neighbouring countries also experienced significant operational disruptions.

Key airports impacted include:

Despite being one of the region’s largest global transit hubs, Hamad International Airport in Qatar still recorded over 2,000 flight cancellations, highlighting how even major aviation centres were not immune to the disruptions.

The Middle East sits on one of the busiest aviation corridors in the world , linking Europe, Asia, and Africa through major hubs including Doha, Dubai, and Kuwait.

When large-scale disruptions happen in the region, the impact spreads quickly across global aviation. It affects long-haul international flights, cargo operations, aircraft scheduling, and airline crew movements.

Airlines are often forced to reroute flights to avoid restricted airspace. That means longer routes, higher fuel consumption, increased operating costs, and extended travel times for passengers.

The move consolidates leadership of the diversified conglomerate within the founding family as the group enters a new phase.

In a filing with Bursa Malaysia, Berjaya confirmed the leadership change, while a company statement described Tan’s appointment as the start of a “new chapter of leadership” for the group.

“As we move forward in 2026, a new chapter of leadership unfolds at Berjaya Corporation Berhad. At the helm is Ms. Nerine Tan, now serving as Chief Executive Officer, bringing clarity of vision and steadfast leadership as the group looks to the future,” the company said.

Who is Nerine Tan?

Tan brings more than 25 years of experience in sales and operations, marketing strategy and business development across multiple industries within the group.

She graduated with a Bachelor of Science degree in management from the London School of Economics.

Within the Berjaya group, Tan currently serves as chief executive officer of Sports Toto Berhad and holds directorships in several privately held companies under the conglomerate.

She has also led sales strategies at STM Lottery Sdn Bhd since 2007, overseeing operations through challenges including illegal gaming activities and the disruptions caused by the COVID-19 pandemic.

Berjaya said Tan’s leadership will focus on strengthening the group’s core operations while enhancing organisational agility as it navigates changing business conditions.

“Her leadership reflects a deep understanding of people , markets and the evolving dynamics of business,” the company said.

The leadership transition reinforces the role of the Tan family in steering the conglomerate founded by Vincent Tan, one of Malaysia’s best-known businessmen.

Tan remains a major shareholder of Berjaya Corporation, while Nerine Tan’s sister, Chryseis Tan Sheik Ling, serves as an executive director of the company.

Nerine Tan also sits on Berjaya’s sustainability committee.

Berjaya Corporation has interests spanning gaming, hospitality, property, retail and food and beverage, making it one of Malaysia’s most diversified business groups.

The appointment formally places the next generation of the founding family in charge of the conglomerate’s future direction.

I also think it’s important for news, because it’s where a whole generation hangs out and because the format is actually appropriate for information sharing - unlike some of the other competitors for attention such as gaming or music streaming.

I’ve never subscribed to the notion that content on the platform has to be funny or light, despite having attended countless industry events where I was shown innovative but content-deficient approaches by major news organisations.

At CGTN, with an excellent team, we amassed more than a million followers over a two-year period (it’s now closer to 2 million).

TikTok is powerful. TikTok is useful. And TikTok is relevant. 

So it’s a shame they are currently doing worse at news than Meta. 

That’s a low bar. Meta once made an effort to lure big news brands. It didn’t really build an ecosystem to support a diversity of news content, but it did at least put money and lipservice towards the value of news. Then came the big falling out, lawsuits and legislation that led to a divorce. Instead, Meta pivoted towards creators, using a tiny portion of its earnings to return to those whose efforts make the platform work.

And today it is possible for a news organisation with very tight cost controls to make some (OK not a lot of) money from content licensing on Facebook.

TikTok offers a similar programme, designed to share a measly portion of revenue with those who power the platform with their own content. As a news organisation, we want to be on TikTok because it's an important channel to reach an audience who may not have access to other sources of information. Few media make a serious effort on the platform because the financial returns for doing so are low. But we feel it's part of our mission.

I can understand why TikTok has strict rules about violent or graphic content. I think they should find a way of filtering this content so users can decide if they want to see the realities of conflict or disaster, but I understand why it's easier just to remove everything and play safe. It means we do sanitise and dilute some of our storytelling on TikTok to avoid being blocked.  Not ideal, but understandable.

My problem comes with a much more insidious moderation approach which penalises “unoriginal content”.

Firstly because it doesn’t work: I interviewed the head of Indonesia’s free meals programme - https://www.globalsouthworld.com/article/indonesia-s-free-meals-programme-will-feed-83-million-people-in-2026 - but the interview was flagged as unoriginal on TikTok. Not only does this mean it cannot be monetised, but effectively I get a strike.

But also because it is wrong in principle: We got another unoriginal strike for a video compiling reactions to the US attack on Venezuela (TikTok says this does not include sufficient editing to be considered original content, do take a look and make your own opinion https://www.tiktok.com/@globalsouthworld/video/7591629476258254102 ). Another strike was given for a video of Donald Trump defending sharing a monkey video of Barack Obama and another for a clip of Egypt’s president at Davos.

And once we had five strikes that was enough to get us banned from the creator rewards programme. From small revenue to no revenue. And that makes a difference. I can understand that TikTok may not feel that running clips such as these is what the creator programme was designed for. It would be fair to exclude them from monetisation. But the entire channel should not be punished for providing serious news content. Channels producing anodyne brain-rot do not run this risk.

I don’t want to see social media banned. I want to see social media improved. Here’s somewhere to start. In an emailed response to questions about their policy, TikTok said the content was not eligible for its creator programme because it did not involve enough editing or because the creator was not appearing in the video (which incidentally is not mentioned in the rewards programme terms https://www.tiktok.com/creator-academy/en/article/creator-rewards-program ).

They did not address the policy of blocking the entire channel from the programme on the basis that some videos were ineligible.

Duncan Hooper is consulting editor at Global South World. He previously ran the European newsroom of CGTN and was head of digital at Euronews.

The southern states of Bavaria and Baden-Württemberg emerge as corporate powerhouses.

In Bavaria, cities like Munich and Ingolstadt are anchors for automotive giants such as Audi and BMW. Just to the west in Stuttgart (Baden-Württemberg), the global headquarters of Mercedes-Benz Group and engineering group Porsche AG sit alongside high-tech suppliers like Bosch and automation specialist KUKA.

These firms are central to Germany’s reputation as the world’s leading exporter of vehicles and machinery, a status backed by federal data showing that automotive and mechanical engineering account for significant portions of national exports.

This region also houses SAP, Germany’s most valuable tech company and one of the largest enterprise software makers globally, headquartered in Walldorf.

Moving northwest, the state of North Rhine-Westphalia (NRW) stands out for its industrial diversity.

City hubs such as Cologne, Düsseldorf and Essen host companies ranging from chemical and pharmaceutical firms to logistics players.

Corporations like Henkel (consumer goods), Deutsche Post DHL Group (logistics and shipping) and RWE (energy) anchor the region, which historically developed through coal and steel before evolving into a modern services and industrial base.

The Ruhr Valley, once Europe’s industrial heartland, continues to host major employers and head offices tied to manufacturing, chemicals and power generation, a reflection of how Germany has transitioned from heavy industry to high-tech and sustainability-focused sectors.

In the north, port cities like Hamburg and Bremen appear as hubs for shipping and trade. Hapag-Lloyd , one of the world’s largest container shipping companies, is headquartered in Hamburg, as are major logistics and trade firms. The North Sea ports are central to Germany’s external trade, handling cargo flows that connect Europe with Asia and North America.

Though historically industrial regions east of the old Berlin Wall lagged in corporate headquarters, the map shows new growth sectors.

Berlin, the capital, has become a centre for tech start-ups and digital media companies. While traditional industrial headquarters are fewer than in other regions, Berlin’s influence is rising through innovation and venture capital investment.

In eastern states like Saxony and Thuringia, specialised engineering and cleantech firms have headquarters there, mirroring national efforts to expand renewable energy and advanced manufacturing.

The Democratic Republic of the Congo maintains its position at the top of Africa’s copper hierarchy. With roughly 30,000 tonnes of identified reserves, the DRC remains the continent’s largest exporter of copper, with China and the UAE among its biggest destinations.

Exports to China alone are valued in the hundreds of millions of dollars annually, underscoring the critical role Congolese copper plays in global manufacturing and clean energy supply chains.

The importance of the DRC’s copper sector is more than anecdotal. According to broader market research, the country accounted for around $19.8 billion in copper exports in recent years, more than double that of its nearest African competitor, Zambia, and serves as a linchpin for key global markets in Asia and the Middle East.

Zambia follows closely as Africa’s second most significant copper exporter, with around 20,000 tonnes of reserves. Major consumers for Zambian copper include Switzerland and China, reflecting deep integration into European and Asian metal markets.

Copper is central to Zambia’s economy, making up about 70% of total export earnings and fuelling broader economic activity at home. Mines such as Kansanshi and Lumwana have been long-standing pillars of production in the region, supporting both local industry and foreign trade.

South Africa and Namibia round out the list of Africa’s key copper exporters, with 13,000 and 11,000 tonnes of reserves, respectively. India and China are among South Africa’s principal export markets, while Belgium and Germany figure prominently in Namibia’s trade mix.

Though smaller in volume than the DRC or Zambia, both countries contribute significantly to regional supply chains and are positioning themselves for future growth through exploration and mining partnerships.

Copper is not ordinary but an essential in renewable energy systems, electric vehicles, telecommunications and industrial infrastructure, sectors that are expected to drive demand for decades. Africa’s copper reserves, particularly in the DRC and Zambia, sit along the great African Copperbelt, a mineral belt that runs from the Copperbelt Province of Zambia into the mineral-rich regions of southeastern DRC.

The African Minerals Development Centre (AMDC), established by the African Union to implement the Africa Mining Vision, frames this resource wealth not just as a source of export earnings but as a foundation for industrial transformation. The Centre’s mandate encourages policies that promote value addition, responsible mining, and the strategic use of revenues to support sustainable development across the continent.

According to wealth data compiled from Bloomberg , Forbes and other real-time billionaire trackers, Alice Walton, heir to the Walmart empire, holds the top spot with a net worth north of $139.4 billion. Walton has long dominated female wealth charts thanks to her significant stake in the retail giant founded by her father, Sam Walton. Her position underscores how Walmart’s share price and global revenue performance continue to drive immense personal wealth.

Following Walton is French beauty magnate Françoise Bettencourt Meyers & family, whose fortune stems from a controlling stake in cosmetics powerhouse L’Oréal. Bettencourt Meyers, who has served on various corporate and cultural boards, remains one of Europe’s wealthiest figures with net worth estimates approaching $95 billion.

In third place on the 2026 roster is Julia Koch & family, inheritors of stakes in Koch Industries. Koch’s wealth reflects diversification across energy and manufacturing, underscoring how industrial conglomerates contribute to family fortunes on the global stage.

Latin America and Asia are also represented on the list. Chilean mining magnate Iris Fontbona & family, who inherited assets including Antofagasta PLC from her late husband, Andrónico Luksic, appear alongside India’s Savitri Jindal & family, chair of the Jindal Group, a diversified industrial powerhouse. Jindal has been noted as one of India’s richest women, a rare feat in a market still dominated by male billionaires.

The United States drives much of the remainder of the list. Jacqueline Mars, whose family’s Mars, Inc. brands span confectionery and pet food, and Miriam Adelson & family, tied to the casino industry, both feature multibillion-dollar fortunes of $45.7 billion and $44.5 billion, respectively.

Abigail Johnson, CEO and principal owner of Fidelity Investments, ranks among the top 10 with a significant stake in one of the world’s largest asset management firms, with a net worth of 33.3 billion. Marilyn Simons & family, connected to hedge fund success, round out the group of the ten richest women.

What this really means is a portrait of wealth that’s still heavily shaped by inheritance and established family holdings, but one in which women are increasingly visible at the summit of global finance and industry.

Across continents, from retail and beauty to mining and finance, these women command assets that not only underscore personal success but also reflect broader trends in wealth creation and market leadership.

As global markets continue to fluctuate through 2026, watchers of billionaire rankings will be paying close attention to how economic cycles and strategic investment decisions reshape this list in the years ahead.

In the film, tables across the country become stages for LEGO-built scenes inspired by everyday holiday moments.

It becomes a fold-down tray table on a Spring Festival train turned into a glowing LEGO zoetrope, to brothers in Inner Mongolia recreating their grandfather’s morin khuur with bricks. 

Other scenes include a chess game between a grandfather and granddaughter transformed into a LEGO fantasy, children performing a lion dance with a brick-built marionette in Guangdong, and villagers and travelers in Sichuan assembling what the company calls the world ’s longest LEGO firecracker.

LEGO said everything shown on screen was physically built, brick by brick, reflecting the brand’s emphasis on hands-on creation. 

Alongside the film, LEGO has introduced new Spring Festival products for the gifting season, including the Galloping Horse Canvas and Fortune Firecrackers sets. 

The Galloping Horse Canvas features a galloping horse rendered in an ink-wash style, drawing on traditional symbolism associated with success and good fortune.

The Fortune Firecrackers set reinterprets firecrackers — a staple of Lunar New Year celebrations — which are traditionally used to welcome prosperity and the God of Wealth.

These Chinese-specific offerings follow years of LEGO studying Chinese culture to create products that connect emotionally with local consumers.

Besides, the investments are likely to pay off, as China is the world’s largest toy market , with the industry projected to reach $78.21 billion in 2027, having grown 6.80% since 2022. 

China is the only market where LEGO designs products specifically for local holidays. Since 2019, the company has released 16 Spring Festival–themed sets, some of which have also found audiences outside China.

The Chinese New Year campaign is part of LEGO’s broader investment in the market, where it now operates more than 400 stores across over 120 cities and produces most of its China-bound products at a manufacturing facility in Jiaxing, Zhejiang province.

The policy applies to freshly brewed beverages and was developed with nine major coffee operators, including Café Amazon, Inthanin, All Café, Black Canyon, and Punthai.

Health authorities described the move as one that is designed to slow the rise of non-communicable diseases such as diabetes and heart disease, which remain a growing burden in Thailand.

According to Bangkok Hospital , nearly 1 in every 10 Thais aged 15 and above is living with diabetes — close to 5 million people — a figure that has sharpened the government’s push to cut sugar consumption nationwide.

Globally , diabetes has surged at an alarming pace, with the number of people living with the disease rising from about 200 million in 1990 to 830 million in 2022, with treatment coverage weakest in poorer nations.

Rather than banning sugar outright, the programme changes the default recipe. Customers will still be able to request full sweetness, but the standard option will now deliver only 50% sugar.

This move is a form of behavioural “nudging,” a strategy meant to gently reshape consumer habits by normalising lower-sugar choices.

Under the revised formula, a typical 16-ounce cup of coffee or Thai milk tea will contain about 3.3 to 3.7 teaspoons of sugar, comfortably below the World Health Organization’s recommended daily maximum of six teaspoons.

The initiative also dovetails with Thailand’s expanding sugar tax regime, which targets sweetened beverages and is expected to generate 578.2 billion baht ($18 billion) in revenue in 2026.

While packaged drinks are already taxed based on sugar content, freshly made beverages have largely fallen outside regulatory reach. The new partnership effectively closes that gap.

For coffee chains, the shift offers financial upside as well. Using less sugar and syrup lowers ingredient costs, helping businesses offset higher taxes and rising raw material prices without raising menu prices.

According to IMF projections cited and analysed by The African Exponent , Africa’s ten largest economies in 2026 reflect a mix of resource strength, population size, industrial capacity, and policy direction.

South Africa is projected to remain Africa’s largest economy in 2026, with a nominal GDP of about $401.6 billion. Despite slow growth in recent years, the country continues to benefit from its diversified economy, strong financial sector, and advanced industrial base.

Close behind is Egypt, with an estimated $399.5 billion GDP. Egypt’s rise has been driven by large-scale infrastructure investment, expansion in energy production, and aggressive economic reforms.

As The African Exponent has noted in previous coverage, Egypt’s strategic positioning as a trade and logistics hub linking Africa, the Middle East , and Europe continues to strengthen its economic weight.

Nigeria, Africa’s most populous country, is projected to rank third with a GDP of roughly $334.3 billion. Oil and gas still play a central role, but growth in telecommunications, fintech, agriculture, and entertainment has diversified parts of the economy.

However, the African Exponent has consistently pointed out that currency instability, inflation, and policy uncertainty remain key constraints on Nigeria’s full economic potential.

Algeria is expected to rank fourth at $285.0 billion, buoyed largely by hydrocarbons and higher global energy demand. While diversification remains a challenge, state spending and energy exports continue to anchor the economy.

Morocco, at $196.1 billion, rounds out the top five. Its strength lies in manufacturing, agriculture, tourism, and the growing automotive and aerospace industries. The African Exponent frequently highlights Morocco as one of Africa’s most strategically diversified economies.

Kenya and Ethiopia signal East Africa’s growing economic relevance. Kenya has approximately $140.9 billion, driven by services, finance, ICT, and regional trade. Ethiopia is also around $125.7 billion, supported by manufacturing, agriculture, and state-led industrialisation.

Despite debt pressures and foreign exchange shortages, Ethiopia’s long-term growth fundamentals continue to attract attention across African economic commentary.

Ghana, Côte d’Ivoire, and Angola finalise the list as Ghana sits at $113.5 billion, supported by gold, cocoa, and oil, though fiscal pressures persist. Côte d’Ivoire comes in with $111.5 billion, as one of West Africa’s fastest-growing economies, driven by agriculture and infrastructure. Angola, with $109.9 billion, is heavily dependent on oil but showing gradual signs of reform.

The African Exponent has noted that Côte d’Ivoire’s steady growth contrasts sharply with more volatile commodity-dependent economies, making it one of the continent’s most closely watched performers.

These rankings are based on nominal GDP, not purchasing power or living standards. What this really tells us is where capital, infrastructure, and policy focus are currently concentrated. It also highlights Africa’s continued reliance on a handful of large economies to drive continental growth.

Data from the U.S. Geological Survey reveals that China dominates global rare earth reserves, holding an estimated 44.0 million metric tons, roughly 48% of the world’s known supply. This scale translates directly into economic leverage.

Control over raw materials allows China to influence pricing, supply chains, and downstream industries such as battery manufacturing, renewable energy infrastructure, and defence technologies.

The USGS has repeatedly highlighted that access to critical minerals increasingly determines technological competitiveness, not just industrial capacity.

Brazil ranks second globally, with about 21.0 million metric tons, accounting for 23% of known reserves. Its deposits include both ionic clay and hard-rock formations, which are considered among the most promising outside China.

However, much of Brazil’s rare earth potential is said to remain at an early development stage. Infrastructure , processing capacity, and regulatory frameworks are still catching up. As a result, Brazil’s short-term impact on global supply remains limited, despite its geological strength.

Beyond China and Brazil, reserve concentration remains pronounced. The top six countries, including Vietnam, Russia and Australia, control roughly 80% of known global reserves, leaving many advanced economies exposed to supply risks.

The United States holds approximately 1.9 million metric tons, about 2% of global reserves, according to the USGS.

Some of the most closely watched reserves also sit outside the traditional leaders. Canada, with roughly 0.83 million metric tons, and Greenland, with about 1.5 million metric tons, are increasingly viewed as diversification options.

Recent industry data compiled by ReportLinker, which aggregates insights from leading market research firms, shows that production is highly concentrated among a small group of countries, with New Zealand and China in the lead.

According to ReportLinker’s research of global dairy production reports, New Zealand accounts for just over 32A% of the world’s dry whole milk powder output, making it the single largest producer. China follows with approximately 26%, while Brazil ranks third at nearly 13%. Together, these three countries produce more than two-thirds of the world’s supply.

Why New Zealand Leads

New Zealand’s dominance is not accidental as the country’s dairy sector is heavily export-oriented, supported by pasture-based farming, advanced processing infrastructure, and global supply chains that prioritise milk powders due to their long shelf life. Whole milk powder is particularly attractive for export markets in Asia, the Middle East, and Africa, where refrigeration can be limited, and demand for versatile dairy ingredients remains high.

The country’s focus on value-added dairy products rather than liquid milk consumption has further reinforced its leadership position.

On the other hand, ReportLinker-referenced market analyses highlight that China’s milk powder production is driven primarily by domestic demand, especially for infant formula and processed foods. Following food safety reforms and heavy investment in local dairy processing, China has significantly expanded its capacity to produce whole milk powder internally, reducing reliance on imports while still remaining a major buyer on the global market.

Emerging producers

Behind the top two, Brazil holds roughly 12.6% of global production, benefiting from a large cattle population and growing dairy processing capacity. Argentina, Mexico, and Chile also feature among the top producers, though each accounts for under five percent of total output.

Smaller but notable contributors include the United States , Indonesia, Belarus, and Russia, each supplying just over one percent. ReportLinker data suggests that in many of these countries, whole milk powder production serves a mix of domestic consumption, food manufacturing, and regional trade rather than large-scale global exports.

On environmental responsibility, Aqua stands apart from the field with 50.3%. The gap to second place is not marginal but structural. Le Minerale follows at 35.4%, leaving a 14.9-point distance that no other attribute in the study replicates.

A dense mid-tier then gathers tightly, with Nestlé Pure Life at 28.7%, Cleo at 25.9%, Vit at 25.0%, Hydrococo at 25.0%, Ades at 24.9%, and Pristine 8.6+ at 24.6%. Below them, Crystalline records 23.6%, Club 22.4%, Super Q2 21.8%, and Equil 21.7%.

At the bottom of the category, Qasis posts 18.9%, Total 8+ 18.6%, Amidis 18.4%, and Sanqua 17.5%. What this really means is that sustainability leadership is no longer contestable without a step-change in credibility. Aqua owns this space decisively.

Value for money is competitive

Value perception tells a different story. Le Minerale leads with 39.2%, but unlike sustainability, the category compresses quickly behind it. Cleo follows closely at 36.8%, while Ades records 35.6% and Aqua 34.7%.

Pristine 8.6+ sits at 34.5%, Nestlé Pure Life at 34.2%, Vit and Club both at 34.1%, and Crystalline at 33.0%. Hydrococo posts 32.4%, Qasis 31.7%, and Super Q2 30.7%.

The lowest tier remains competitive, with Amidis and Total 8+ both at 29.1%, Equil at 28.8%, and Sanqua at 28.7%. The takeaway is clear: value for money is broadly shared, making it a weak lever for long-term differentiation unless paired with other strengths.

Innovation, taste, and health reward focused challengers

Innovation shows one of the tightest leadership races in the study. Le Minerale leads at 28.5%, followed by Hydrococo at 27.5% and Crystalline at 27.1%. Cleo records 26.3%, Pristine 8.6+ 25.2%, and Nestlé Pure Life 24.6%.

Taste perception reinforces this pattern. Le Minerale leads at 33.2%, narrowly ahead of Hydrococo at 32.1%. Crystalline follows at 26.6%, Aqua at 26.1%, and Nestlé Pure Life at 25.6%. Sanqua again sits last at 17.9%.

On health perception, Le Minerale posts 38.8%, followed by Aqua at 36.0% and Hydrococo at 35.1%. Together, these results show that consumers reward brands that commit clearly to functional and experiential benefits rather than spreading their messaging thin.

Trust, quality, and familiarity define modern leadership

Perceived quality is increasingly polarised. Aqua dominates with 50.9%, closely followed by Le Minerale at 48.8%. The next tier drops sharply, with Nestlé Pure Life at 38.4% and Hydrococo at 37.2%. Sanqua records the lowest score at 27.6%.

Safety and trust show near parity at the top, with Le Minerale at 34.3% and Aqua at 34.2%. However, brand awareness gaps quietly shape outcomes. Le Minerale shows the lowest uncertainty at 3.5%, followed by Aqua at 3.8%. In contrast, Sanqua faces a 27.3% “don’t know” rate, limiting its ability to convert any positioning into equity.

For weaker brands, the first challenge is not persuasion but visibility. Consumers cannot trust what they cannot confidently evaluate.

About the research

The findings are drawn from the 2025 Bottled Water Consumer Survey conducted by Impactum Insights. The study was carried out using an online quantitative survey method, with computer-assisted web interviews conducted between 10 September and 10 October 2025. A total of 1,094 Indonesian internet users aged 18 and above participated in the research, providing a nationally representative view of consumer perceptions across 16 major bottled drinking water brands.

According to the report titled "Savoury Snacks Leaders in Indonesia", 56% of consumers cite taste as the single most important factor when choosing a savoury snack, far ahead of any other attribute.

Health considerations matter, but they come second. 42.3% of respondents prioritise health factors, reinforcing that healthier positioning complements taste rather than replacing it. Only 1.6% say they are unsure what drives their snack choices, underlining how clearly defined consumer preferences are in this category.

SilverQueen leads in taste, quality, and overall brand strength

SilverQueen emerges as the category reference brand by leading or co-leading across the attributes that matter most to consumers.

On ingredient quality, SilverQueen ranks first with 52.7%, ahead of Chitato at 44.5% and Delfi at 44.2%. This gap signals a strong perception advantage that extends beyond marginal differences.

Taste performance follows a similar pattern. SilverQueen leads with 45.1%, while Beng Beng follows at 41%. Garuda Peanuts and Tango cluster closely behind at 38.4% and 38.3%, highlighting a competitive upper tier but a clear leader.

Value perception shows tighter competition. SilverQueen still leads at 40%, but Beng Beng and Tango both score 37.8%, with Malkist Roma at 37.7% and Garuda Peanuts at 37.6%. Consumers see value as widely available, but only a few brands manage to rise clearly above the rest.

Fun and variety are not competitive

On being a fun brand, SilverQueen and Tango share the top position at 33.8%, followed by Beng Beng at 32.4%. Kacang Dua Kelinci and Malkist Roma follow closely at 31.3% and 31%. Most brands fall within a narrow range between the high 20s and low 30s, showing limited differentiation.

Flavour variety follows the same pattern. Yupi leads with 27.4%, but the margin is modest. Chitato follows at 25.3%, with Malkist Roma at 24.6% and Kopiko at 23.6%. Many brands sit between 21% and 23%, confirming that variety is expected rather than distinctive.

Health perceptions are uneven

Garuda Peanuts leads perceptions of being healthier than competitors at 36.7%. Kacang Dua Kelinci and SilverQueen follow closely at 33.3% each. Several brands score around 30%, while others fall below 25%, showing uneven credibility across the category.

This reinforces a strategic choice for brands. Health can be a differentiator, but only when pursued clearly and consistently.

The Impactum Insights Brand Image Report was based on survey responses from about 1,094 Indonesian adults.

According to published exchange rates verified by EBC Financial Group and recent global financial data, the following currencies have a higher unit value than the U.S. dollar as of early 2026:

What “stronger than the dollar” actually means

It’s important to clarify that saying a currency is “stronger” refers to its exchange rate value , not necessarily overall economic strength. A higher exchange rate simply means that one unit of the foreign currency buys more U.S. dollars.

This does not mean that those economies are larger or more stable than the United States. It is a reflection of monetary policy choices, currency pegs, and market supply/demand dynamics. For example, many Middle Eastern currencies are deliberately kept at high values relative to the dollar to support import pricing and economic stability.

One institution continues to define the benchmark. The rest of the market is divided into a solid but crowded second tier and a fragmented middle struggling to convert capability into equity.

Across almost every brand attribute measured, including good customer service and the most trustworthy banks, BCA remains the clear reference point for Indonesian consumers. It leads decisively in customer service (55.3%), trustworthiness (48.6%), digital banking services (49%), value for money (37.2%), financial strength (37.8%), ease of use (34.6%), and customer care (27.5%)

The Brand Image Index based on responses from more than 1,000 Indonesian internet users nationwide reinforces this dominance. BCA scores 100, far ahead of its nearest competitor, Bank Mandiri, at 59.

Beyond performance, BCA also records the lowest “don’t know” rate in the market in terms of visibility, signalling near-universal familiarity.

The second tier

Bank Mandiri, BRI, and BNI form a recognisable second tier. All three benefit from high awareness, strong associations with financial stability, and credible trust scores. In attributes such as customer service, digital banking, and reputation, they consistently outperform mid-tier and lower-tier peers.

These banks, however, cluster tightly across multiple measures. For example, customer service scores range between 31 and 38%, and digital banking perceptions sit within a similarly compressed band. Consumers see them as reliable and familiar, but not clearly distinct from one another.

Here’s the issue. In a market where loyalty is primarily functional rather than emotional, being “good enough” is no longer a moat. Without sharper positioning, these banks risk competing on convenience alone.

Mid-tier banks

BTN, BSI, and CIMB Niaga sit squarely in the middle of the Brand Image Index. Their scores suggest competence across most attributes, but little leadership in any one area.

Consumers neither reject nor champion these brands. They recognise them, use them, and often struggle to articulate what makes them different.

This “functional but forgettable” position is risky. Without a clear narrative or standout experience, these banks face stagnation. Growth will require more than improving operational metrics.

According to estimates from Forbes and Bloomberg, the world’s richest individuals now control unprecedented levels of capital, driven by AI , cloud computing, electric vehicles, and digital platforms that shape everyday life.

At the top of the ranking sits Elon Musk, whose net worth has climbed to an estimated $716.2 billion. The Tesla and SpaceX founder has benefited from soaring valuations tied to artificial intelligence through xAI, renewed growth in Tesla’s energy and autonomy businesses, and SpaceX’s expanding dominance in satellite launches and defence contracts.

Close behind is Larry Page, Google’s co-founder, with a fortune of around $266.5 billion from Google and Alphabet.

Jeff Bezos is in third position with $256.1 billion. Amazon’s continued expansion into cloud services, logistics automation, and AI-powered retail tools has helped Bezos maintain his position near the top, even after stepping back from day-to-day leadership.

Sergey Brin, Page’s fellow Google co-founder, ranks fourth with $245.9 billion, reflecting Alphabet’s sustained strength in search, advertising, and artificial intelligence infrastructure.

Larry Ellison, Oracle’s co-founder and long-time chairman, follows with $237.6 billion, buoyed by the company’s aggressive push into cloud computing and enterprise AI services.

Social media and chipmaking also feature prominently. Mark Zuckerberg, CEO of Meta, sits sixth with $221.5 billion, as Meta’s AI investments and virtual reality platforms regain investor confidence.

Bernard Arnault, the only non-tech figure in the upper tier, ranks seventh with $194.9 billion, underscoring the enduring global appeal of luxury brands under the LVMH umbrella.

Rounding out the top ten are Jensen Huang, CEO of Nvidia, whose $160.6 billion fortune reflects the company’s central role in AI hardware; legendary investor Warren Buffett, with $148 billion from Berkshire Hathaway’s long-term holdings; and former Microsoft CEO Steve Ballmer, worth $145.8 billion, largely driven by Microsoft’s continued dominance in cloud computing and enterprise software.

What this ranking reveals is that the global wealth is now linked to a handful of transformative technologies and Artificial Intelligence, data infrastructure, and digital platforms are no longer niche sectors.

What follows is a look at the top five richest individuals on the continent and the shifts in their wealth:

Aliko Dangote

Leading the surge is Nigerian industrialist Aliko Dangote, Africa’s richest person, whose fortune has grown by $451 million since January 1. Dangote’s net worth now stands at $30.4 billion, placing him first in Africa and 79th globally.

Johann Rupert

In second place is Johann Rupert and his family from South Africa . Rupert’s wealth increased by $70.9 million over the same period, bringing his net worth to $19.5 billion. He is ranked second in Africa and 138th worldwide.

Nathan Kirsh

South African businessman Nathan Kirsh ranks third among Africa’s wealthiest individuals. His fortune rose by $289 million since the start of the year, giving him a net worth of $10 billion. Kirsh is third in Africa and 322nd globally.

Naguib Sawiris

Also among the top gainers is Egyptian billionaire Naguib Sawiris, whose wealth increased by $173 million. His net worth now stands at $10.8 billion, ranking him fourth in Africa and 350th globally.

Abdul Samad Rabiu

Rounding out the top five is Nigerian billionaire Abdul Samad Rabiu, whose wealth rose by $328 million since January. Rabiu’s net worth is estimated at $10.5 billion, making him fourth in Africa and 337th globally.

That is the central message from the International Monetary Fund’s latest World Economic Outlook , which projects wide disparities in GDP growth across G20 economies this year.

A visual ranking of projected annual real GDP growth rates places India firmly at the top, followed by Indonesia and China, while major advanced economies such as Japan, Germany, and Italy sit at the bottom of the table.

India Leads the G20 Growth Rankings

India is forecast to grow by 6.2% in 2026 , making it the fastest-growing economy in the G20. The IMF attributes this momentum to strong domestic demand, sustained public investment, and the country’s expanding manufacturing and services sectors.

Indonesia follows with a projected growth of 4.9%, reinforcing Southeast Asia’s role as a key engine of global expansion. China, despite ongoing structural challenges and a cooling property sector, is still expected to post a solid 4.2% growth rate, keeping it among the top performers.

Argentina and Saudi Arabia are both projected to grow by 4%, reflecting commodity-linked recoveries and policy adjustments aimed at stabilising their economies.

Middle performers: Growth, but at a slower pace

Türkiye is forecast to grow by 3.7%, supported by consumption and post-election economic recalibration. Australia and the United States are both expected to expand by 2.1%, signalling resilience but also highlighting the limits imposed by tight monetary policy and cooling labour markets.

Brazil’s growth is projected at 1.9%, while South Korea is expected to record 1.8%. Canada and Mexico are both forecast at 1.5%, closely tied to trends in US demand and trade conditions.

Europe and Japan lag behind

The outlook is notably weaker for much of Europe. The European Union as a bloc is projected to grow by just 1.4%, with the UK slightly lower at 1.3%. France and Germany are both forecast at 0.9%, while Italy trails at 0.8%.

Japan sits at the bottom of the G20 rankings, with growth projected at just 0.6%. Ageing demographics, weak productivity growth, and persistent inflationary pressures continue to weigh on the country’s economic prospects.

Russia is projected to grow by 1%, reflecting ongoing geopolitical pressures and structural constraints.

Export data shows that a small group of countries dominate the world market, with Ireland, the Netherlands and New Zealand taking the top spots.

Here’s a breakdown of the latest figures, what’s driving the rankings, and why it matters for consumers and producers around the world.

Ireland tops the charts

Ireland leads the world in butter exports, accounting for an estimated 17.3% of the global export value, or roughly $1.78 billion. That puts Ireland narrowly ahead of its European neighbour, the Netherlands.

Ireland’s success in butter exports stems from its dairy-centric agricultural model. With abundant grassland and a climate well-suited to pasture-based farming, Irish dairy cows produce milk rich in fat, ideal for making butter and other high-value dairy products.

Irish dairy cooperatives have also focused on export markets for decades, building strong distribution channels in Europe, the Middle East and beyond.

The Netherlands and New Zealand close behind

Hot on Ireland’s heels is the Netherlands, contributing about 17.0% of global butter export value with approximately $1.75 billion in shipments. The Dutch dairy sector is highly efficient, combining advanced processing technology with strong international logistics links through key ports such as Rotterdam.

Third in line is New Zealand, with 16.8% of exports valued at around $1.72 billion. New Zealand’s dairy industry is globally competitive because of its pasture-based system and the dominance of large, export-oriented cooperatives like Fonterra. Proximity to Asia , one of the fastest-growing markets for dairy, also helps New Zealand sustain its export volumes.

European powerhouses

After the top three, the landscape widens, but no country approaches the export shares of Ireland, the Netherlands and New Zealand:

These European producers benefit from large dairy industries that focus on a range of products, with butter playing a key role in their export mix.

Mid-tier and emerging exporters

Further down the list:

Even though the United States is one of the largest dairy producers globally, it exports less butter than smaller European and Oceanian countries. That’s partly because much U.S. butter stays in the domestic market, where demand is strong, and prices can be attractive for producers.

In practical terms, it is designed to lower barriers to trade and investment, set common rules for doing business, and create a more predictable framework for political and economic cooperation between the two regions.

Two structural details that explain both the ambition and the political pain:

What’s actually in it

At its core, the agreement targets tariff and non-tariff barriers across a large share of goods trade:

The Council’s own framing is that this would create the world’s biggest free trade zone, covering over 700 million consumers, and it points to substantial existing EU-Mercosur trade flows (over €111 billion in goods trade in 2024, plus significant services trade).

Why was it contested?

The opposition has not been about a single clause. It has been a collision between three politically hard issues to reconcile: farm economics, environmental credibility, and trust in enforcement.

EU farmers fear being undercut, especially in “sensitive” sectors

European farming organisations and several member states argued that increased market access for Mercosur products could push down prices for EU producers, particularly in sectors like beef, poultry and sugar. This is why “farmers on tractors” became the recurring image around the agreement across multiple EU countries.

Even where quotas and safeguards exist, farmers and their political allies often focus on the direction of travel, and that is more competition from producers they believe face lower costs and different regulatory burdens.

Environmental groups and some governments worry about deforestation and climate enforcement

Critics argue the deal risks incentivising expansion of beef and soy production, with knock-on effects for deforestation and biodiversity, particularly in sensitive ecosystems such as the Amazon. This line of criticism has been especially influential in France and among environmental NGOs.

In response, the European Commission’s Q&A document stresses that the updated deal makes the Paris Agreement an “essential element” of the relationship, and that this can allow suspension if a party seriously breaches or withdraws from the Paris framework. It also references commitments linked to halting deforestation after 2030 in line with Paris-related national plans.

Standards and “fair competition” arguments: pesticides, food safety, production rules

A persistent theme has been the claim that EU farmers face stricter requirements ( animal welfare , pesticides, traceability, environmental compliance) and that imports should be held to equivalent standards to avoid creating a two-tier system.

The Commission’s Q&A is explicit that EU sanitary and phytosanitary standards are non-negotiable , and it outlines plans for strengthened audits, checks, and an SPS dialogue/committee with Mercosur counterparts. It also flags an intention to pursue stronger alignment on production standards for imports, including certain pesticides.

When it is being signed, and what happens next

Here’s the timeline in plain terms:

After the signature, the agreement still needs to clear the legal and political gates that actually make it real:

Today, just two countries, Vietnam and Sri Lanka, control more than half of the world’s cinnamon exports by value. New trade data shows how these nations have turned an ancient spice into a modern export powerhouse, reshaping supply chains and global food markets in the process.

According to figures compiled by the International Trade Centre and supported by CIA World Factbook export and commodities data, Vietnam is currently the world’s largest exporter of cinnamon. The country accounts for 27.6% of global exports, valued at approximately $227 million.

Sri Lanka follows closely with a 26.6% share, worth around $218 million. What this really means is that the cinnamon trade is anchored firmly in Asia.

Vietnam’s rise has been rapid and deliberate. Large-scale cultivation , particularly in Yen Bai and Quang Nam provinces, has allowed the country to meet rising global demand at competitive prices. Government support for agricultural exports and efficient processing systems has further strengthened its position.

Sri Lanka’s success is built on a different foundation. As the world’s primary source of Ceylon cinnamon , the country commands higher prices due to its distinctive flavour profile and lower coumarin levels.

International Trade Centre data shows that Sri Lankan cinnamon is especially sought after in Europe and other health-conscious markets. Despite higher production costs, its strong reputation has preserved its global competitiveness.

China ranks third in global cinnamon exports, with 15.3% of the market valued at 125 million US dollars. Indonesia follows with 13.7%, or roughly $112 million.

Both countries benefit from integrated agricultural systems and strong regional trade networks. China ’s exports often feed into processing and re-export chains, while Indonesia’s production remains closely tied to smallholder farmers, particularly in Sumatra.

Countries such as the Netherlands, the United States, Germany, and France are not major cinnamon growers, but they remain significant exporters by value. Their role is largely logistical.

The Netherlands, for example, accounts for 3.3% of global exports, reflecting its position as a key European trade and redistribution hub. International Trade Centre data shows that spices frequently enter Europe through Dutch ports before being re-exported across the region.

Global demand for cinnamon continues to grow, driven by interest in natural foods, wellness products, and plant-based diets. The market is expected to reach about $1.95 billion by 2034.

China is the world ’s largest importer of vitamins, with imports valued at US$415.3 million, accounting for 8.2% of total global vitamin imports. This reflects the country’s massive pharmaceutical, food processing and supplements industries, alongside rising domestic demand linked to urbanisation and health awareness.

While China is also a major vitamin producer, it still relies on imports for specialised formulations, high-grade inputs and supply stability across its vast manufacturing base.

The United States ranks second, importing US$286.1 million worth of vitamins, or 5.6% of the global total. Demand is driven by a mature supplements market, widespread use of fortified foods and a healthcare system that heavily integrates nutritional products.

Vitamin imports into the US support everything from over-the-counter supplements to medical nutrition and animal feed.

Europe’s steady demand

Several European countries also feature prominently on the list:

Belgium’s position is notable. Despite its small size, it acts as a pharmaceutical and logistics hub for Europe, with major ports and processing facilities that redistribute vitamins across the region.

Russia imports US$258.8 million, accounting for 5.1 per cent of global vitamin imports, reflecting strong demand from its food and pharmaceutical sectors.

Further down the list, Uzbekistan appears with US$164.6 million (3.2%), highlighting how emerging economies are investing more heavily in nutrition, food security and healthcare inputs.

Smaller markets, strategic demand

Saudi Arabia , Hong Kong , and Canada round out the top ten. While their import volumes are smaller, each plays a strategic role:

That massive number places it above Saudi Arabia, Iran and Canada, a fact that once made the country one of the most influential players in the global oil market.

The bulk of these reserves lies in the Orinoco Oil Belt, a vast region of heavy and extra-heavy crude that dwarfs conventional deposits in both scale and potential.

Yet, despite having the largest reserves, it produces only a small fraction of the global supply of roughly 1 million barrels per day, less than a third of its output two decades ago.

Reserves on paper do not automatically mean oil reaches the market. Much of Venezuela’s crude is heavy and difficult to extract and refine. Producing it requires advanced technology, large-scale investment and reliable infrastructure. Years of economic crisis, political instability and international sanctions have weakened all three.

The world’s energy markets are paying close attention for a few reasons:

1. Strategic energy stocks and shifting geopolitics

Recent events, including the capture of Venezuelan President Nicolás Maduro by U.S. forces, have intensified global focus on who controls Venezuela’s oil. The United States has signalled plans to invite American and international companies back into the nation’s energy sector to unlock its resource potential.

2. Global supply implications

If Venezuela could boost production, it would reshape oil flows and regional influence. Heavy crude from the Orinoco Belt is particularly valuable because many refineries, especially on the U.S. Gulf Coast, are structured to process dense oil grades.

3. Investment and infrastructure challenges

Rebuilding Venezuela’s oil industry won’t happen overnight . Experts estimate tens of billions of dollars would be needed to modernise ageing facilities, address underinvestment and restore capacity lost to years of neglect and sanctions.

4. Geopolitical flashpoints

Venezuela’s oil isn’t just an economic asset. It’s a geopolitical lever. China, Russia and other states hold financial and energy ties with Caracas, and shifts in Venezuelan production can ripple into diplomatic and strategic relationships.

After all these areas of scrutiny and worry, the question remains: Who controls Venezuela's oil now?

The list, compiled using data from GourmetPro and visualised by World Visualized, shows Indonesian convenience retailers far outpacing regional rivals, while diversified conglomerates and state-linked cooperatives maintain strong national footholds elsewhere.

Indonesia ’s convenience store model dominates

At the top of the ranking are Indomaret and Alfamart, Indonesia’s two retail behemoths.

Their dominance is driven by Indonesia’s urban density, fragmented traditional retail sector and permissive zoning laws, which allow small-format stores to cluster closely together. Both chains focus on low-cost essentials, mobile payments and neighbourhood-level accessibility rather than large weekly shops.

Regional conglomerates with cross-border reach

Dairy Farm International Holdings, ranked third with 10,000+ stores, represents a different model. Headquartered in Hong Kong, the group operates a portfolio of brands including Giant, Cold Storage, Wellcome and 7-Eleven across Hong Kong, Singapore, Malaysia, Indonesia, Vietnam and Cambodia.

Rather than scale in one country, Dairy Farm leverages brand segmentation and middle-class consumption growth across multiple markets.

Vietnam and Japan-backed expansion

Vietnam’s VinMart+, with 2,400+ stores, reflects the rapid formalisation of Vietnam’s grocery sector. Backed by Vingroup and later Masan Group, VinMart+ has expanded aggressively into urban and semi-urban areas as incomes rise and modern retail replaces wet markets.

Japan’s AEON Group, ranked fifth with 2,000+ stores across Malaysia, Indonesia, Vietnam and Cambodia, has focused on mall-anchored supermarkets and hypermarkets, targeting aspirational consumers and stable middle-income demand.

Thailand and Malaysia’s neighbourhood chains

Thailand features prominently through Big C and Mini Big C, together operating more than 2,000 outlets. Their strategy mirrors Indonesia’s convenience model, but with tighter regulation and stronger competition from traditional markets.

Malaysia’s 99 Speedmart, with over 1,000 stores, has built success through a discount-first approach, tight inventory control and limited product ranges, making it resilient during inflationary periods.

National champions and cooperatives

Final on the list are Puregold Price Club in the Philippines and NTUC FairPrice in Singapore.

Mexico accounts for 43.5% of total global brandy exports, with shipments valued at $4.1 billion . That puts the country far ahead of every other exporter.

Over the past two decades, the country has built a powerful spirits export ecosystem, driven by large-scale production, competitive pricing, and strong access to key markets, especially the United States .

While tequila and mezcal often get the spotlight, brandy has become a major export engine in its own right.

Much of this growth is tied to high-volume, mass-market brandy production that caters to consumer demand in North America , parts of Africa, and Asia. The scale of Mexico’s exports suggests not just strong demand, but also highly efficient supply chains and well-established distribution networks.

China ranks a distant second, exporting around $1 billion worth of brandy, or 10.7% of global exports. This reflects China’s growing role in spirits production, driven by domestic consumption and expanding export ambitions.

Europe remains influential, but fragmented. Italy exports about $669 million worth of brandy, followed by France at $252 million, Spain at $302 million, and Germany at $229 million. Rather than competing on volume, many European producers focus on premium positioning, heritage branding, and higher price points.

Countries such as Hong Kong, the Netherlands, the United States, and the UK round out the list, often acting as re-export hubs or serving niche markets.

Valued at about $61.78 billion in 2025 , the global spirits market is changing fast. Consumers are more open to non-traditional origins, while price sensitivity in emerging markets favours large-scale producers.

At the same time, trade routes are being reshaped by inflation, currency movements, and evolving alcohol regulations.

Mexico’s lead in brandy exports mirrors a broader trend as production power is moving toward countries that can combine scale, cost efficiency, and access to major consumer markets. This is especially relevant as global alcohol consumption patterns shift away from premium-only narratives toward everyday, accessible spirits.

While artificial intelligence and semiconductors are still driving market momentum, some of the biggest gains are coming from companies many investors once considered mature, or even left behind.

Leading the list is Western Digital (WDC), up more than 260% so far this year, followed closely by Robinhood Markets (HOOD) and Seagate Technology (STX). The common thread tying many of these winners together is not hype alone, but a sharp rebound in earnings expectations, renewed demand for data infrastructure , and a global surge in AI-related investment.

According to Bankrate , which compiled the performance data shown in the image, storage and memory companies have been among the biggest beneficiaries of the AI boom. As cloud providers, AI developers, and data centres race to expand capacity, demand for hard drives and memory chips has surged after a prolonged industry downturn.

This trend is reinforced by Micron Technology (MU), up nearly 180%, and Lam Research (LRCX), a key supplier of semiconductor manufacturing equipment. Industry analysts note that AI models require enormous amounts of high-bandwidth memory and advanced chips, reigniting capital expenditure across the semiconductor supply chain.

Beyond tech hardware, the chart also highlights companies riding broader structural shifts. Palantir Technologies (PLTR) has continued its rally as governments and corporations expand spending on data analytics, defence technology, and AI-enabled decision systems.

Meanwhile, Newmont (NEM), the world’s largest gold miner , reflects renewed investor interest in hard assets amid geopolitical tensions, persistent inflation risks, and ongoing conflicts in Eastern Europe and the Middle East.

Even more striking is the presence of Warner Bros. Discovery (WBD) and Robinhood, whose strong gains point to shifting sentiment rather than pure fundamentals. Robinhood has benefited from increased retail trading activity and crypto-linked revenue growth, as digital assets rebound in 2025 following regulatory clarity in major markets such as the US and EU.

All of this is unfolding against a backdrop of strong equity market performance. The S&P 500 has reached repeated record highs in 2025, driven by easing inflation pressures, expectations of eventual interest-rate cuts, and continued optimism around productivity gains from AI.

At the top of the production pyramid are China and India, the only countries producing more than one million tonnes of tea annually. According to the UN Food and Agriculture Organisation (FAO), China alone accounts for over 45% of global tea production, driven by vast green tea output, while India remains the world’s largest producer of black tea , much of it grown in Assam and West Bengal. Together, these two countries anchor the global tea market and heavily influence international prices and supply stability.

The next tier, highlighted prominently across South and Southeast Asia, includes Sri Lanka, Kenya, Vietnam, and Indonesia, each producing between 100,000 and 1,000,000 tonnes. Kenya stands out as Africa’s tea powerhouse and the world’s leading tea exporter, with tea contributing significantly to national foreign exchange earnings.

The Kenya Tea Development Agency reports that smallholder farmers produce over 60% of the country’s tea, which underscores the crop’s role in rural livelihoods.

Across East Africa, countries such as Uganda, Tanzania, Rwanda, and Malawi fall into the mid-production bands shown on the map. These regions are increasingly important as global buyers seek to diversify supply chains away from Asia.

This trend aligns with current global trade discussions around supply chain resilience, especially as climate shocks and geopolitical tensions continue to disrupt agricultural exports worldwide.

Climate change, now central to global news agendas, is one of the most pressing challenges facing tea-producing regions. A 2023 FAO and IPCC-linked assessment highlighted that rising temperatures and irregular rainfall are already reducing yields and altering tea quality in major producing countries, particularly in South Asia and East Africa.

In India and Sri Lanka, erratic monsoons have led to fluctuating output, while prolonged droughts in Kenya have raised production costs and threatened farmer incomes.

In parts of South America, including Argentina, tea production has grown steadily, largely driven by demand from the United States and Europe for competitively priced black tea. Argentina is now the largest tea producer in the Americas, a fact often overlooked in global discussions.

These production patterns are increasingly relevant as global tea consumption continues to rise. According to Statista, the global tea market is projected to surpass USD 200 billion by 2027, fuelled by population growth, expanding middle classes in Asia and Africa, and heightened interest in tea’s health benefits.

The country’s dominance reflects its long-established role as a global cocoa processing and food manufacturing hub, centred around the Port of Amsterdam and advanced agri-processing infrastructure.

Malaysia ranked second with 12.2% of global exports worth $422 million, underscoring Southeast Asia’s growing importance in value-added food processing, even though much of its cocoa is imported.

Germany followed closely, exporting $364 million worth of hot chocolate products, while Indonesia and Spain rounded out the top five exporters.

Data from World ’s Top Exports confirms that countries leading hot chocolate exports are typically those with strong food processing industries, advanced logistics, and access to global markets, rather than simply cocoa production alone.

This explains why France, Singapore, the United States and Brazil also feature among the top exporters, each leveraging manufacturing capacity, branding, and distribution networks to compete globally.

Notably, Ghana, one of the world’s largest cocoa producers, appears on the list with $142 million in exports, reflecting gradual progress in moving beyond raw cocoa exports toward finished and semi-finished chocolate products, an issue long debated in African trade and industrialisation policy .

The hot chocolate trade figures come amid broader shifts in global food markets. Rising cocoa prices, driven by climate-related supply disruptions in West Africa and tighter global stocks, have placed pressure on manufacturers worldwide.

In 2024, cocoa prices reached multi-decade highs , prompting concerns about inflation in chocolate and confectionery products.

At the same time, global demand for premium and ready-to-drink chocolate beverages has risen, particularly in Europe, North America and parts of Asia, boosting export volumes despite higher input costs.

According to pre-Christmas estimates highlighted by EuroNews, gift spending in Europe’s largest economies was projected to exceed €360 billion ($423 billion), with the United Kingdom, Germany and France forecast to account for the largest shares.

The projections reflected both population size and consumer resilience, even as inflation, high interest rates and geopolitical uncertainty continued to weigh on household budgets in the run-up to Christmas.

The United Kingdom was forecast to lead spending, with Christmas gift purchases estimated at €103.9 billion, followed by Germany at €85.24 billion and France at €71.65 billion. Southern Europe was expected to record lower, but still substantial spending, with Italy projected at €43.04 billion and Spain at €30.6 billion, while the Netherlands (€15.13 billion) and Belgium (€11.18 billion) completed the ranking.

EuroNews reported that while consumers approached the season cautiously, many still prioritised Christmas gifting, often cutting back in other areas or actively seeking discounts rather than abandoning festive traditions altogether.

Although headline inflation had eased in several eurozone countries compared with its 2022 peak, prices for food, energy and housing remained elevated ahead of Christmas. Retailers across Europe reported a noticeable shift toward discount-driven shopping, earlier purchasing and greater reliance on online sales during the festive period.

The report also indicated that many shoppers opted for fewer but more meaningful gifts, while budget retailers and second-hand platforms saw increased demand in the weeks leading up to Christmas.

For retailers, the festive season remained a critical trading period. In countries such as Germany and France, Christmas sales were estimated to account for up to a quarter of annual retail revenue, making the period vital for overall business performance.

Taken together, the spending projections offered cautious optimism to retailers after several challenging years marked by pandemic disruption, supply-chain shocks and rising operating costs, even as consumers continued to navigate economic uncertainty.

According to Statista , Coca-Cola consistently ranks as the most purchased soft drink brand in Germany, far ahead of competitors in both sales volume and brand recognition.

The company employs more than 6,000 people nationwide and operates multiple bottling plants.

On the other hand, Vita Cola’s resilience in eastern Germany is rooted in history. First produced in 1958 in the former East Germany (GDR), Vita Cola became the region’s answer to Western soft drinks, which were largely unavailable during the Cold War.

After German reunification, many East German brands disappeared. Vita Cola , however, survived and experienced a revival, marketing itself as a regional alternative with a distinct citrus flavour and lower acidity than Coca-Cola. Today, it remains especially popular in Thuringia, Saxony and Saxony-Anhalt.

The German cola map emerges at a time when multinational food and beverage companies are facing pressure worldwide. From supply chain disruptions linked to the war in Ukraine to rising sugar taxes and health regulations across Europe, global brands are being challenged to adapt.

Coca-Cola itself has acknowledged the importance of localisation, increasingly tailoring products and marketing strategies to national and regional tastes.

While Coca-Cola’s dominance across most of Germany remains unchallenged, Vita Cola’s stronghold in the east serves as a reminder that history and regional identity still matter.

For consumers in Thuringia, choosing Vita Cola is not just about flavour but also about cultural continuity.

However, what many people do not realise is that Africa has been the historic and modern heartland of frankincense and myrrh production.

The biggest producers of these gems in Africa

Somalia

Somalia is the world’s largest producer of frankincense and is internationally known for high-quality varieties such as Boswellia sacra and Boswellia frereana. Harvested mainly in Puntland and Somaliland, Somali frankincense is still used in church incense, perfumery, and wellness products, especially during the Christmas season. According to Horn Frank , Somalia's frankincense market value is estimated at $504.5 million.

Ethiopia

Ethiopia is a major producer of both frankincense and myrrh. For centuries, Ethiopian Orthodox churches have burned frankincense during Christmas liturgies, making the resin both a cultural and spiritual staple. Much of the frankincense used in global religious ceremonies originates from Ethiopian dryland forests. Unfortunately, the West's desire for wellness is reported to be impacting Ethiopia's production negatively.

Until roughly two decades ago, frankincense was largely a niche product with demand concentrated in religious institutions. “The demand for frankincense was mostly from churches,” says Frans Bongers , professor of forest ecology and management at Wageningen University in the Netherlands.

That dynamic has shifted dramatically. Today, the ancient resin has entered global commercial markets, driven by growing interest in its purported health benefits and its adoption by the wellness industry, an industry valued at approximately $5.6 trillion annually.

As demand accelerates, supply chains are also changing. “Now big companies are buying up everything they can,” Bongers says. “Anything you can produce, there is a market.”

Kenya

Northern Kenya produces large quantities of myrrh from Commiphora species. Myrrh remains important not only in Christian tradition but also in African traditional medicine and modern cosmetics, with demand rising during festive and religious seasons. For generations, it has played a central role in traditional medicine , where it has been applied to support wound healing, relieve oral sores, ease pain from injuries and broken bones.

Frankincense and myrrh are not relics of the past. They are living products, still harvested by hand, still sustaining rural African livelihoods, and still carrying spiritual meaning thousands of years after the first Christmas.

It is worth remembering that two of the most sacred symbols of Christmas come from Africa’s soil as the world celebrates.