Lets start with the map.
The Five Great Shinobi Nations: -
In the East is the Land of Water composed of one major island and eight smaller islands which has The Village Hidden by Mist (Kirigakure).
In the Mid East there is the Land of Fire which has the Village Hidden in the Leaves (Konohagakure).
In the North East is the Land of Lightning which has the Village Hidden by Clouds (Kumogakure).
In the North is the Land of Earth which has the Village Hidden by Rocks (Iwagakure).
Right in the middle is the Land of Wind which has the Village Hidden by Sand (Sunagakure).
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There are some smaller nations that act as a buffer between the 5 great nations, which include: -
The Land of River between Konoha(Leaves) and Suna(Sand), is a good example for a buffer nation which was plagued by endless fights as it was used as the battlefield for many wars between the 2 great nations.
The Land of Rain takes a special place in the buffer lands because it is actually the buffer between 3 great nations! It is boarders the Land of Fire(Konoha), Earth(Iwa) and Wind(Suna). It is also the Land which the Demi-God Hanzo led.
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#Note: Name of the land (Name of the village)
Now we can finally discuss the economic sphere of such world! Lets start from worst to best in term of economic powers and weaknesses (from the 5 great nations): -
Land of Wind (Sunagakure) is the worst village economically despite having some means of production and really valuable resources such as precious metals, they lack an essential necessity which is food. Land of Wind is the land threatened by famine, and this weakness is being used and exploited by other villages to gain an unfair advantage when it comes to bargaining and trading.
Land of Water (Kirigakure) might not be as bad as Suna as they don't lack food, hence their sea is full of life. Plagues by internal strife and a dark history, Kirigakure refuses to open up to other land. The only valuable things that Kirigakure could capitalize on are pearls and if had the necessary technology, then salt.
Land of Earth (Iwagakure) is the land of craft. You could find artists, craftsmen, and a lot of earthly materials from this land. Despite their similarity with Suna, Iwa isn't in a dire need for food which allows it to actually sell its product for its real price. The food production here is low but it isn't zero.
Land of Fire (Konohagakure) is not in very far advanced economically than Iwa. Konoha production of food and wood is good, but they are in a very bad disadvantage when it comes to metal, thus they allied themselves with Sunagakure as they both have something that the other wants with Konoha having the higher hand.
Land of Lightning (Kumogakure) is the best economically by far. Kumogakure is more than self sufficient! Food production? Better than Konoha! Wood? Almost as good as Konoha! Metals? On par with Iwa! Kumogakure holds the upper hand in the world when it comes to economy. Their land is blessed with mountains and forests, plains and beaches.