A "Commodity Boom" refers to a significant increase in the prices of raw materials and primary goods, such as metals, oil, and agricultural products. This surge often occurs due to high demand, limited supply, or geopolitical factors. During a boom, countries that export these commodities can experience economic growth, increased revenues, and improved trade balances. The effects of a commodity boom can be widespread, impacting global markets and economies. For instance, countries like Brazil and Australia, which are rich in natural resources, may benefit from higher export earnings. However, such booms can also lead to volatility, as prices may eventually decline, affecting economies reliant on commodity exports.