Methodology:
To determine the countries most dependent on the oil trade, 24/7 Tempo reviewed data on oil imports and exports from the the Observatory of Economic Complexity, an online data visualization and distribution platform. Countries were ranked based on the total value of oil imports and exports in 2020 as a percentage of their gross domestic product.
Data on GDP in 2020 is from the World Bank, estimated using the purchasing power parity method in current international dollars. Oil import and export data includes all products classified within the Harmonized System code 27, representing all mineral fuels, mineral oils, and the products of their distillation. Population data in 2020 is also from the World Bank.
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