Copper exports contribute nearly half of its export income.

He estimated that the collapse in oil price had lowered export income by $180 billion (118 billion), while economic sanctions had cost the country between $40 billion and $60 billion.

Much of the country's export income comes from water, and much of its power comes from hydroelectricity.

The colonies, almost all primary cash crop producers, lost the majority of their export income and were forced away from the open complementary colonial economies to closed systems.

Export income fell due to a hard hit copper industry: the price of copper on international markets fell by almost a third, and post-nationalization copper production fell as well.