Rainforests are home to two-thirds of all the living animal and living animal and plant species of the Earth. It has been estimated that many hundreds of millions of species of plants, insects and microorganisms are still undiscovered. Tropical rainforests have been called the "jewels of the Earth," and the "world's largest pharmacy," because of the large number of natural medicines discovered there.
A natural rainforest emits and absorbs vast quantities of carbon dioxide. On a global scale, long-term fluxes are approximately in balance, so that an undisturbed rainforest would have a small net impact on atmospheric carbon dioxide levels, though they may have other climatic effects . No rainforest today can be considered to be undisturbed. Human induced deforestation plays a significant role in causing rainforests to release carbon dioxide, as do natural processes such as drought that result in tree death.Some climate models run with interactive vegetation predict a large loss of Amazonian rainforest around 2050 due to drought, leading to forest dieback and the subsequent feedback of releasing more carbon dioxide.
Tropical rainforests provide timber as well as animal products such as meat and hides. Rainforests also have value as tourism destinations and for the ecosystem services provided. Many foods originally came from tropical forests, and are still mostly grown on plantations in regions that were formerly primary forest.
Tropical rainforests are also the source of medicinal drug components.
About half of the mature tropical rainforests, between 750 to 800 million hectares of the original 1.5 to 1.6 billion hectares that once graced the planet have already fallen. The devastation is already acute in South East Asia, the second of the world's great biodiversity hot spots. Most of what remains is in the Amazon, where the Amazon Rainforest covered more than 600 million hectares, an area nearly two thirds the size of the United States. The forests are being destroyed at an ever-quickening pace. Unless significant measures are taken on a world-wide basis to preserve them, by 2030 there will only be 10% remaining with another 10% in a degraded condition. 80% will have been lost and with them the natural diversity they contain will become extinct.