Commodity Demand: Drivers, Outlook, and Implications

No AccessDec 2022Commodity Demand: Drivers, Outlook, and ImplicationsAuthors/Editors: John Baffes, Peter NagleJohn BaffesSearch for more papers by this author, Peter NagleSearch for more papers by this authorhttps://doi.org/10.1596/978-1-4648-1911-7_ch2AboutView ChaptersFull TextPDF (53.3 MB) ToolsAdd to favoritesDownload CitationsTrack Citations ShareFacebookTwitterLinked In Abstract: Reports that commodity consumption has surged over the past half century, with metal commodities leading the way, their consumption rising fourfold between 1970 and 2019, followed by a threefold increase in consumption of energy and agricultural commodities. Key drivers of this growth include income and population growth, with demand for metals the most responsive to rising income. Technological innovations have heavily influenced the commodity intensity of output by boosting efficiency in the consumption and production of commodities. 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