This entry briefly describes five economic components for a given country:
* National Economy, including a brief economic history;
* Domestic Markets, including labor and wage markets, as well as brief commentary on economic sector portfolios;
* Financial Power and Public Finance, including brief discussions of financial market strengths and security, lending/exchange rates (especially if abnormalities exist), and foreign direct investments;
* Trade Power and Influence, including brief commentary on chief imports and exports; and
* Regional Strategy and Efforts, including key partners, regional economic development efforts, and any underlying economic data integrity concerns.
extremely low-income South Asian economy; import drops, currency depreciation, disappearing central bank reserves, and increasing inflation after Taliban takeover; increasing Chinese trade; hit hard by COVID; ongoing sanctions
future hopeful EU member state; oil and gas exporter but investing toward a “blue economy”; COVID-19 and earthquake economic disruptions and declines; experiencing high debt and account balances; strengthening private sector growth and public sector trust
suffering oil and gas economy; lack of sector and market diversification; political instability chilling domestic consumption; poor credit access and declines in business confidence; COVID-19 austerity policies; delayed promised socio-economic reforms
tourism, tuna, and government services-based territorial economy; sustained economic decline; vulnerable tuna canning industry; large territorial government presence; minimum wage increases to rise to federal standards by 2036
high GDP; low unemployment; non-EU Euro user; co-principality duty-free area between Spain and France; tourist hub but hit hard by COVID-19; modern, non-tax haven financial sector; looking for big tech investments; new member of SEPA and IMF
African oil leader and OPEC member; fairly stable currency; widespread poverty; emerging African finance and investment capital; systemic public corruption and lack of oversight; massive foreign direct investment recipient
small, tourism-dependent, territorial-island economy; very high public debt; COVID-19 crippled economic activity; partial recovery underway via tourism, benefitting from its high amount of timeshare residences; considering reopening oil refinery
dual island-tourism and construction-driven economy; emerging “blue economy”; limited water supply and susceptibility to hurricanes limit activity; improving road infrastructure; friendly to foreign direct investment; looking at financial innovation in cryptocurrency and blockchain technologies
large diversified economy; financial risks from debt obligations, rapid inflation, and reduced investor appetites; resource-rich, export-led growth model; increasing trade relations with China; G20 and OAS leader; tendency to nationalize businesses and under-report inflation
EEU-and CIS-member state but seeking more EU and US trade; business-friendly growth environments; stable monetary regime but vulnerable demand economy; key copper and gold exporter; persistent unemployment; large diaspora and remittances
small, tourism-dependent, territorial-island economy; very high public debt; COVID-19 crippled economic activity; partial recovery underway via tourism, benefitting from its high amount of timeshare residences; considering reopening oil refinery
Asian and global economic leader and partner for 3 decades; strong financial sector and highly traded domestic currency support best credit ratings; aging workforce; export-led model; reduced consumer spending offset by government and business; energy investor
one of the strongest EU and euro economies; diversified trade portfolios and relations; enormous trade economy; Russian energy dependence, but investing in alternative energy; aging labor force but large refugee population; large government debt
oil-based economy; macroeconomic instabilities due to demand shocks; recent state bailout of largest lender; potential economic gains from Nagorno-Karabakh conflict; negatively impacted by COVID-19; investing in human capital to diversify and retain younger generation
high-income tourism and financial services economy; major income inequality; strong US bilateral relations; several tax relief programs; targeted investment in agriculture, energy, light manufacturing, and technology industries
growing, economically diverse Middle Eastern island economy; major recovery and balancing efforts to fulfill Economic Vision 2030; regional finance hub; increasing openness; high youth unemployment; water scarcity amid reservoir depletion
one of the fastest growing economies; significant poverty reduction; COVID-19 adversely impacted female labor force participation and undermined previously stable financial conditions; looking to diversify beyond clothing industry; fairly low government debt; new taxation law struggling to increase government revenues
largest Eastern Caribbean economy; dependent on US imports and currency strength; high Human Development Index; key tourism and financial sectors; declining but still very high public debt; cost-of-living and cost competitiveness vulnerabilities
declining Russian energy subsidies will end in 2024; growing public debt; strong currency pressures have led to higher inflation; recent price controls on basic food and drugs; public sector wage increases and fragile private sector threaten household income gains and economic growth
high income economy with strong but moderate growth; high public debt; aging labor force; low labor force participation of low-skilled, migrant, and older workers; strong welfare system; high congestion; complex business permitting and judicial systems
tourism- and agriculture-driven economy; strong post-pandemic rebound; innovative and ecological bond restructuring that significantly lowered public debt and expanded marine protections; central bank offering USD-denominated treasury notes; high mobility across borders
robust economic growth; slightly declining but still widespread poverty; strong trade relations with Nigeria; cotton exporter; COVID-19 has led to capital outflows and border closures; WAEMU member with currency pegged to the euro; recent fiscal deficit and debt reductions
small, tourism- and construction-based, territorial-island economy; American import and tourist destination; known offshore banking hub; increasing inflation; major re-exportation and re-importation area
hydropower investments spurring economic development; Gross National Happiness economy; sharp poverty declines; low inflation; strong monetary and fiscal policies; stable currency; fairly resilient response to COVID-19; key economic and strategic relations with India; climate vulnerabilities
resource-rich economy benefits during commodity booms; has bestowed juridical rights to Mother Earth, impacting extraction industries; increasing Chinese lithium mining trade relations; hard hit by COVID-19; increased fiscal spending amid poverty increases; rampant banking and finance corruption
import-dominated economy; remains consumption-heavy; lack of private sector investments and diversification; jointly addressing structural economic challenges; Chinese energy infrastructure investments; high unemployment; tourism industry impacted by COVID-19
good economic governance and financial management; diamond-driven growth model declining; rapid poverty reductions; high unemployment, particularly among youth; COVID-19 sharply contracted the economy and recovery is slow; public sector wages have posed fiscal challenges
industrial-led economic growth model; recovering from 2014-2016 recession when COVID-19 hit; industry limited by Amazon rainforest but increasing deforestation; new macroeconomic structural reforms; high income inequality; left UNASUR to join PROSUR
small island territory economy; economic activity mainly on Diego Garcia with national military installations; recently settled disputes with Mauritius have increased oil exports; established marine reserve has limited commercial fishing
British Caribbean island territorial economy; strong tourism and services industries; vulnerable to hurricanes; navigating public debt insolvency since 2008 Crisis; considered a tax haven; high electrification costs; major rum exporter
almost exclusively an oil and gas economy; high income country; expansive and robust welfare system; the majority of the population works for the government; promulgating a nationalized halal brand; considering establishment of a bond market and stock exchange
upper-middle-income EU economy; improving living standards and very robust economic growth; coal-based infrastructure; legacy structural vulnerabilities and widespread corruption; increasing Russian economic relations, particularly through energy trade
highly agrarian, low-income economy; limited natural resources; widespread poverty; terrorism disrupting potential economic activity; improving trade balance via increases in gold exports; economy inflating after prior deflation; growing public debt but still manageable
prior to COVID-19 and the February 2021 military coup, massive declines in poverty, rapid economic growth, and improving social welfare; underdevelopment, climate change, and unequal investment threaten progress and sustainability planning; since coup, foreign assistance has ceased from most funding sources
highly agrarian, low-income Sub-Saharan economy; declining foreign assistance; increasing fiscal insolvencies; dense and still growing population; COVID-19 weakened economic recovery and flipped two years of deflation
tourism-dominated economy benefits from the country’s relative close proximity to Europe; 2009 Financial Crisis halted economic growth for seven years; leveraging export-based growth; COVID-19 decimated economic growth and recovery; high external debt
one of the fastest growing economies; tourism and clothing exports; substantial manufacturing and construction sectors; COVID-19 declines and the suspension of EU market preferential access; massive reductions in poverty, but rural areas remain disproportionately poor
largest CEMAC economy with many natural resources; recent political instability and terrorism reducing economic output; systemic corruption; poor property rights enforcement; increasing poverty in northern regions
one of the world’s largest economies; leading global financier and macroeconomic partner; largest US trading partner; key timber and oil and gas industries; Canada sends over half its development aid to the World Bank; key “blue economy” developer
dominant offshore banking territory; services sector accounts for over 85% of economic activity; recently adopted a fiscal responsibility framework to combat tax evasion and money laundering; large tourism sector; does not have any welfare system; high standard of living
enormous natural resources; extreme poverty; weak public institutions and infrastructure; political and gender-based violence have led to displacement of roughly 25% of population; Bangui-Douala corridor blockade reduced activity and tax collection; strong agricultural performance offset COVID-19 downturn
primarily oil-based economy, vulnerable to regional competition and international price shocks; increasing extreme poverty and minimal human capital capacities; one of the most environmentally disrupted economies; high maternal and infant mortality rates destabilizing labor force potentials
export-driven economy; leading copper producer; though hit by COVID-19, fairly quick rebound from increased liquidity and rapid vaccine rollouts; decreasing poverty but still lingering inequality; public debt rising but still manageable; recent political violence has had negative economic consequences
one of the world’s top two economies; sustained growth due to export relations, its manufacturing sector, and low-wage workers; only major economy to avoid COVID-19 economic decline; recovery efforts slowing due to longstanding poverty imbalances and other institutional issues; state-sponsored economic controls
high-income Australian territorial economy; development through government services and phosphate mining; operates Australia’s Immigration Detention Centre; increasing tourism and government investments; sustained environmental protections
prior to COVID-19, one of the most consistent growth economies; declining poverty; large stimulus package has mitigated economic fallout, but delayed key infrastructure investments; successful inflation management; sound flexible exchange rate regime; domestic economy suffers from lack of trade integration and infrastructure
small trade-based island economy; declining remittances; new structural and fiscal reforms; adverse cyclone and COVID-19 impacts; manageable debts; fragile liquidity environment; large foreign direct investment; state-owned enterprises suffering
very poor, large, natural resource-rich sub-Saharan country; possesses the world’s second largest rainforest; increasing Chinese extractive sector trade; massive decrease in government investments; increasing current account deficit and public debts
primarily an oil- and natural resources-based economy; recovery from mid-2010s oil devaluation has been slow and curtailed by COVID-19; extreme poverty increasing, particularly in southern rural regions; attempting to implement recommended CEMAC reforms; increasing likelihood of debt default
high-income self-governing New Zealand territorial economy; tourism-based activity but diversifying; severely curtailed by COVID-19 pandemic; copra and tropical fruit exporter; Asian Development Bank aid recipient
trade-based upper middle-income economy; green economy leader, having reversed deforestation; investing in blue economy infrastructure; declining poverty until hard impacts of COVID-19; lingering inequality and growing government debts have prompted a liquidity crisis
one of West Africa’s most influential, stable, and rapidly developing economies; poverty declines in urban but increases in rural areas; strong construction sector and increasingly diverse economic portfolio; increasing but manageable public debt; large labor force in agriculture
tourism-based economy that was one of the hardest hit by COVID-19 economic disruptions; newest euro user since 2023, helping recover from a 6-year recession; public debt increases due to COVID-19 and stimulus packages; weak exports; continuing emigration; new liquefied natural gas import terminal
still largely state-run planned economy, although privatization increasing under new constitution; widespread protests due to lack of basic necessities and electricity; massive foreign investment increases recently; known tobacco exporter; unique oil-for-doctors relationship with Venezuela; widespread corruption
high-income island economy; developed infrastructure; tourism and financial services-based economy; investing in information technology incentives; oil refineries service Venezuela and China; unique COVID-19 stimulus support applied to government debts rather than household support
services-based, high-income EU island economy; heavy tourism; sustained growth between recovery of national banking system and COVID-19 trade restrictions; high living standards; a known financial hub, its stock exchange functions as an investment bridge between EU-and EEU-member countries
note: Even though the whole of the island is part of the EU, implementation of the EU "acquis communautaire" has been suspended in the area administered by Turkish Cypriots, known locally as the Turkish Republic of Northern Cyprus, until political conditions permit the reunification of the island. Its market-based economy is roughly one-fifth the size of its southern neighbor and is likewise dominated by the service sector with a large portion of the population employed by the government. Manufacturing is limited mainly to food and beverages, furniture and fixtures, construction materials, metal and non-metal products, textiles and clothing. Little trade exists with the Republic of Cyprus outside of construction, historically relying heavily upon Turkey for financial aid, defense, telecommunications, utilities, and postal services. The Turkish Lira is the preferred currency, though foreign currencies are widely accepted in business transactions.
high income, diversified EU economy; advanced services and automotive exporter; mostly intra-EU trader; low unemployment; usually maintains a positive trade balance; large investments in systems innovation and information technologies
diversified EU trade-based economy; environmental regulatory innovator; dominant services sector; increased government spending but retaining budget surpluses; currently high inflation; unique "flexicurity" labor market
food import-dependent Horn of Africa economy driven by various national military bases and port-based trade; fairly resilient from COVID-19 disruptions; major re-exporter; increasing Ethiopian and Chinese trade relations; investing in infrastructure
highly agrarian OECS island economy; ECCU-member state; large banana exporter; improved oversight of its citizenship-by-investment program; emerging ecotourism, information and communications, and education industries
surging middle-income tourism, construction, mining, and telecommunications OECS economy; major foreign US direct investment and free-trade zones; developing local financial markets; improving debt management; declining poverty
highly informal South American economy; USD currency user; major banana exporter; hard hit by COVID-19; macroeconomic fragility from oil dependency; successful debt restructuring; China funding budget deficits; social unrest hampering economic activity
Africa’s second-largest economy; 2030 Vision to diversify markets and energy infrastructure; improving fiscal, external, and current accounts; underperforming private sector; poor labor force participation; expanded credit access
growth-challenged Central American economy buttressed via remittances; dense labor force; fairly aggressive COVID-19 stimulus plan; new and lower banking reserve requirements; earthquake, tropical storm, and crime disruptions; widespread corruption
growing CEMAC economy and new OPEC member; large oil and gas reserves; targeting economic diversification and poverty reduction; still recovering from CEMAC crisis; improving public financial management; persistent poverty; hard-hit by COVID-19
largely agrarian economy with a significant mining sector; substantial fiscal surplus due to tight controls; high and vulnerable debts; increased Ethiopian trade and shared port usage decreasing prices; financial and economic data integrity challenges
advanced service-based EU and OECD economy; regional trade and telecommunications leader; recently rejected Baltic sea rail tunnel from Tallinn to Helsinki; flat income taxation; substantial welfare system; balanced budget culture; business-friendly climate
landlocked southern African economy; South African trade dependent and currency pegging; CMA and SACU member state; COVID-19 economic slowdown; growing utilities inflation; persistent poverty and unemployment; HIV/AIDS labor force disruptions
growing Horn of Africa construction- and services-based economy; port access via Djibouti and Eritrea; widespread but declining poverty; COVID-19, locust invasion, and Tigray crisis disruptions; public investment increases; second largest African labor force
British South American territorial economy; longstanding fishing industry; surging tourism prior to COVID-19 and Brexit; recent offshore hydrocarbon discoveries threaten ecotourism industries; no central bank and must have British approval on currency shifts
high-income Danish territorial economy; party neither to the EU nor the Schengen Area; associate Nordic Council member; very low unemployment; unique foreign ownership allowance in fishing industry; known salmon exporter; growing IT industries
upper-middle income, tourism-based Pacific island economy; susceptible to ocean rises; key energy and infrastructure investments; post-pandemic tourism resurgence; improved debt standing; limited workforce
highly industrialized, export-based EU economy and euro user; high per capita GDP; major timber, metals, engineering, telecommunications, and electronics industries; manageable public debts; rigid labor laws impose higher regulatory burdens
high-income, advanced and diversified EU economy and euro user; strong tourism, aircraft manufacturing, pharmaceuticals, and industrial sectors; strong US partner; ongoing pension reform protests and civil unrest; transitioning to a green economy via "France 2030" strategy
small, territorial-island tourism-based economy; large French financing; lower EU import duties; Pacific Islands Forum member; fairly resilient from COVID-19; oil-dependent infrastructure
very small, fishing-based, domestic economic activity; military base servicing
natural resource-rich, upper-middle-income, Central African economy; sparsely populated but high urbanization; young labor force; oil, manganese, and rubber exporter; foreign investment dependent; data integrity issue on poverty and income
small West African economy; COVID-19 reversed robust growth trends; good fiscal management; substantial foreign direct investment and remittances; G20 Debt Service Suspension Initiative participant; widespread poverty; increasing Chinese relations
COVID-19 crippled tourism, transportation, and construction sectors; rising unemployment, public debts and poverty; foreign investment and domestic bond issuance
leading EU service-based export-driven economy; highly skilled and educated labor force; fairly fiscally conservative; energy-related economic disruptions due to Russian gas cessations; increased defense spending and rising debts
West African trade and agrarian economy; COVID-19 reversed nearly 4 decades of continuous growth; major diamond, gold, cocoa, and oil exporter; high public debts; financial and energy sector reform programs adding to fiscal pressures; high remittances
British territorial high-income economy; Brexit caused significant economic disruption to longstanding financial services, shipping, and tourism industries; ongoing negotiations to rejoin EU Schengen Area; independent taxation authority
tourism- and shipping-based EU economy; clientelism economic culture and systemic corruption; new structural reforms for fiscal solvency; high public debts and unemployment; increasing Chinese port control; oil and gas disputes with Turkey
large self-governing Danish territorial economy; preferential EU market access; high-income economy; dependent on Danish financial support, even for whaling and sealing industries; growing tourism; hydropower-fueled but environmentally fragile economy
small OECS service-based economy; large tourism, construction, transportation, and education sectors; major spice exporter; shrinking but still high public debt; vulnerable to hurricanes; emerging blue economy incentives
small Pacific island US territorial economy; upper income, tourism-based economy; hard-hit by COVID-19 disruptions; relaunched many industries via vaccination tourism; domestic economy relies on multiple military bases; environmentally fragile economy
growing Central American economy; unique South Korean business relations; high poverty, inequality, and malnutrition; low government revenues impede educational, sanitation, and healthcare efforts; high migration, child labor, and remittances
high-income English Channel island economy; strong financial sector but stressed due to COVID-19 disruptions; manufacturing, tourism, and construction industries suffered but expected to recover; stable inflation; maintains independent taxation authority
growing but primarily agrarian West African economy; major mining sector; improving fiscal and debt balances prior to COVID-19; economy increasingly vulnerable to climate change; slow infrastructure improvements; gender wealth and human capital gaps
extremely poor West African economy; ethnically diverse labor force; increasing government expenditures; slight inflation due to food supply disruptions; major cashew exporter; systemic banking instabilities and corruption; vulnerable to oil price shocks
small, hydrocarbon-driven South American export economy; major forest coverage being leveraged in carbon credit offsets to encourage preservation; strengthening financial sector; large bauxite and gold resources
small Caribbean island economy and OECS-member state; extreme poverty and inflation; enormous income inequality; ongoing civil unrest due to recent presidential assassination; US preferential market access; very open to foreign direct investment
limited, tourism-based economy; euro user but issues commemorative stamps and coins; solar energy producer; some printing industry to support museums and religious needs
second-fastest-growing Central American economy; COVID-19 and two hurricanes crippled activity; high poverty and inequality; declining-but-still-high violent crime disruption; systemic corruption; coffee and banana exporter; enormous remittances
high-income tourism- and services-based economy; global financial hub; COVID-19 and political protests fueled recent recession; ongoing recovery but lower-skilled unemployment remains high; investing in job-reskilling programs
high-income EU and OECD economy; decreasing government spending; increasing judicial independence concerns; flat income taxation; increasingly dependent on energy imports; strong tourism and automotive manufacturing
high-income European economy; frozen EU accession application but Schengen Area member; major tourism, fishing, and aluminum industries; complex regulatory environment; large FDI recipient; highly educated workforce
largest South Asian economy; still informal domestic economies; COVID-19 reversed both economic growth and poverty reduction; credit access weaknesses contributing to lower private consumption and inflation; new social and infrastructure equity efforts
one of the fastest growing economies and largest in Southeast Asia; upper middle-income country; human capital and competitiveness phase of its 20-year development plan; COVID-19 reversed poverty reduction trajectory; strengthening financial resilience
traditionally state-controlled economy but reforming state-owned financial entities; strong oil/gas, agricultural, and service sectors; recent massive inflation due to exchange rate depreciation, international sanctions, and investor uncertainty; increasing poverty
oil-dependent Middle Eastern economy; COVID-19 disruption and domestic economy fragility post-US presence; poverty increases; currency devaluation leading to inflation; import-dependent for most sectors; evaluating fiscal and monetary restructuring
strong, export-based EU economy; multinational-business-friendly environment known for resilience, even amid COVID-19 disruptions; real wage growth beyond other OECD members; high livings standards; strong social equity and cohesion; aging labor force
high-income British island economy; known financial services and tourism industries; taxation incentives for technology and financial firms to operate; historic fishing and agriculture industries are declining; major online gambling and film industry locale
high-income, technology- and industrial-based economy; highly dense, fast-growing labor force; recent debt spikes; persistent inequality and poverty; significant tariff and regulatory burdens, especially in agriculture; quantitative easing in effect
core EU economy; strong services, manufacturing, and tourism sectors; hard hit by COVID-19 disruptions but starting to recover; large EU exporter but data skews due to inflated port entry valuation; corruption somewhat stymies foreign direct investment
upper middle-income Caribbean island economy; ongoing debt restructuring; hurricane-vulnerable economy; high crime, youth unemployment, and poverty; susceptible to commodity shocks from ongoing Russia invasion of Ukraine
fourth-largest, trade-oriented, and diversified economy; highly indebted country; slow wage growth and declining labor force; still heavily hydrocarbon-reliant; central bank keeping negative interest rates amid modest inflation; increased military spending; stagnant tourism sector
British territorial island economy; strong offshore banking and finance sectors; low asset taxation; strong tourism sector prior to COVID-19 and Brexit; one of the most expensive places to live; minimal welfare system; historical cider industry
low growth, upper middle-income Middle Eastern economy; high debt and unemployment, especially for youth and women; key US foreign assistance recipient; natural resource-poor and import-reliant
oil and gas giant, with growing international investment; domestic economy hit hard by COVID-19 disruptions; reforming civil society and improving business confidence; legacy state controls and Russian influence inhibit growth and autonomy
fast growing, third largest Sub-Saharan economy; strong agriculture and emerging services and tourism industries; current account deficit and high debt; broadband and mobile-money platform investments; surging inflation due to oil and food hikes; new investor-friendly incentives; environmentally fragile economy
lower-middle income, Pacific island economy; environmentally fragile; sizable remittances; key phosphate mining fund; tourism and fishing industries; public sector-dominated economy; recent withdrawal from Pacific Islands Forum; ongoing constitutional crisis
one of the last centrally planned economies; hard hit by COVID-19, crop failures, international sanctions, and isolationist policies; declining growth and trade, and heavily reliant on China; poor exchange rate stability; economic data integrity issues
strong export-driven East Asian economy; sustainable and social policy leader; foreign aid financier; automotive manufacturing; app-based developer and exporter; global healthcare technology leader; aging workforce; largest semiconductor producer
small-but-growing European economy; non-EU member but unilateral euro user; very high unemployment, especially youth; vulnerable reliance on diaspora tourism services, curtailed by COVID-19 disruptions; unclear public loan portfolio health
small, high-income, oil-based Middle East economy; renewable energy proponent; regional finance and investment leader; maintains oldest sovereign wealth fund; emerging space and tourism industries; mid-way through 25-year development program
landlocked, lower-middle-income Central Asian economy; natural resource rich; growing hydroelectricity and tourism; high remittances; corruption limits investment; COVID-19 and political turmoil hurt GDP, limited public revenues, and increased spending
lower middle-income, socialist Southeast Asian economy; one of the fastest growing economies; declining but still high poverty; natural resource rich; new anticorruption efforts; already high and growing public debt; service sector hit hard by COVID-19
high-income, EU-member Baltic economy; export-driven; Russian invasion of Ukraine has caused a temporary labor force surge and impacted growth due to Russian trade reliance; highly developed transit services
upper middle-income Middle Eastern economy; economic activity hurt by economic depression, COVID-19, and port explosion; hyperinflation and sharp poverty increases; banks have ceased lending; new financing facility helping with recovery
lower middle-income economy surrounded by South Africa; environmentally fragile and politically unstable; key infrastructure and renewable energy investments; dire poverty; urban job and income losses due to COVID-19; systemic corruption
low-income West African economy; food scarcity, especially in rural areas; high poverty and inflation; bad recession prior to COVID-19 due to Ebola crisis; growing government debt; longest continuously operated rubber plantation; large informal economy
upper middle-income, fossil fuel-based North African economy; 31% economic contraction due to COVID-19 and 2020 oil blockade; reduced government spending; central bank had to devalue currency; public wages are over 60% of expenditures
high-income European economy; Schengen Area participant; key European financial leader; integrated with Swiss economy and franc currency user; one of the highest GDP per capita countries; relies on US and Eurozone markets for exports
high-income, EU-member, largest Baltic economy; privatized most state-owned enterprises; unmoved youth emigration; systemic corruption; issued Europe’s first bank-backed digital coin (LBCOIN); highly educated workforce; lowest EU household debt
high-income, EU-member European economy; global financial and information storage leader; high government spending; one of highest GDP per capita countries; unique audit accountancy based on company sizing; aging labor force; hit by COVID-19
high-income, Chinese special administrative region economy; known for apparel exports and gambling tourism; currency pegged to Hong Kong dollar; significant recession due to 2015 Chinese anticorruption campaign; COVID-19 further halved economic activity
low-income East African island economy; natural resource rich; extreme poverty; return of political stability has helped growth; sharp tax revenue drop due to COVID-19; leading vanilla producer; environmentally fragile
low-income East African economy; primarily agrarian; investing in human capital; urban poverty increasing due to COVID-19; high public debt; endemic corruption and poor property rights; poor hydroelectric grid; localized pharmaceutical industry
upper middle-income Southeast Asian economy; implementing key anticorruption policies; major electronics, oil, and chemicals exporter; trade sector employs over 40% of jobs; key economic equity initiative; high labor productivity
upper middle-income Indian Ocean island economy; major tourism, fishing, and shipping industries; high public debt; systemic corruption; crippled by COVID-19; ongoing deflation; poverty has tripled since pandemic began
low-income Saharan economy; recession due to COVID-19 and political instability; extreme poverty; environmentally fragile; high public debt; agricultural and gold exporter; terrorism and warfare are common
high-income, EU-member European economy; diversified portfolio; euro user; dependent on food and energy imports; strong tourism, trade, and manufacturing sectors; high North African immigration; large welfare system; educated workforce
upper middle-income Pacific island economy; US aid reliance; large public sector; coconut oil production as diesel fuel substitute; growing offshore banking locale; fishing rights seller; import-dependent
lower middle-income West African economy; primarily agrarian; rising urbanization; poor property rights; systemic corruption; endemic social and workforce tensions; wide-scale terrorism; foreign over-fishing; environmentally fragile
upper middle-income Indian Ocean island economy; diversified portfolio; investing in maritime security; strong tourism sector decimated by COVID-19; expanding in information and financial services; environmentally fragile
one of the world’s largest economies; USMCA buttresses its manufacturing sector; has underperformed growth targets for three decades; COVID-19 disrupted export-based economy; corruption and cartel-based violence undermine economic stability
lower middle-income Pacific island economy; US aid reliance, sunsetting in 2024; low entrepreneurship; mostly fishing and farming; US dollar user; no patent laws; tourism remains underdeveloped; significant corruption
upper middle-income Eastern European economy; sustained growth reversed by COVID-19; significant remittances; Russian energy and regional dependence; agricultural exporter; declining workforce due to emigration and low fertility
high-income European economy; non-EU euro user; considered a tax haven; tourism and banking are largest sectors; negatively impacted by COVID-19; major oceanographic museum; among most expensive real estate; major state-owned enterprises
lower middle-income East Asian economy; large human capital improvements over last 3 decades; agricultural and natural resource rich; export and consumption-led growth; high inflation due to supply bottlenecks and increased food and energy prices; currency depreciation
upper middle-income Balkan economy; unsanctioned euro user; controversial religious property ownership law; persistent corruption; major infrastructure investments and high expenditures; growing offshore banking destination
formerly high-income economy; volcanic activity destroyed much of original infrastructure and economy; new capital and port is being developed; key geothermal and solar power generation; key music recording operations
lower middle-income North African economy; ongoing recovery from recent drought; rebounding via tourism, manufacturing, and aeronautics industries; major US free trade agreement; developing energy exporter
low-income East African economy; mostly rural labor force; natural resource rich; strong South African ties; Islamist terrorism in north endangers newly discovered natural gas; currently in court over massive (possibly unauthorized) debt
upper middle-income, export-driven Sub-Saharan economy; natural resource rich; Walvis Bay port expansion for trade; high potential for renewable power generation and energy independence; major nature-based tourist locale; natural resource rich; shortage of skilled labor
upper-middle-income Pacific island country; phosphate resource exhaustion made island interior uninhabitable; licenses fishing rights; houses Australia’s Regional Processing Centre; former tax haven; largely dependent on foreign subsidies
low-income South Asian economy; post-conflict fiscal federalism increasing stability; COVID-19 hurt trade and tourism; widening current account deficits; environmentally fragile economy from earthquakes; growing Chinese relations and investments
high-income European economy; core EU member; chemical, oil, and machinery exporter; some age-based income inequality; substantial amount of independent contractor employees; manageable public debt; key international aid funder.
upper-middle-income French Pacific territorial economy; enormous nickel reserves; ongoing French independence negotiations; large Chinese nickel exporter; luxury eco-tourism destination; large French aid recipient; high cost-of-living; lingering wealth disparities
high-income Pacific island economy; strong agriculture, manufacturing, tourism, and energy sectors; reliant on Chinese market for exports; sustained growth; low unemployment; high living standards; sharp growth post COVID-19 lockdown
low-income Central American economy; until 2018, nearly 20 years of sustained GDP growth; recent struggles due to COVID-19, political instability, and hurricanes; significant remittances; increasing poverty and food scarcity since 2005; sanctions limit investment
low-income Sahel economy; major instability and humanitarian crises limit economic activity; COVID-19 eliminated recent antipoverty gains; economy rebounding since December 2020 Nigerian border reopening and new investments; uranium resource rich
largest African market economy; enormous but mostly lower middle income labor force; major oil exporter; key telecommunications and finance industries; susceptible to energy prices; regional leader in critical infrastructure; primarily agrarian employment
upper-middle-income self-governing New Zealand territorial economy; environmentally fragile; massive emigration; post-pandemic tourism rebound; postage stamps, small-scale agricultural processing, and subsistence farming; most recent Asian Development Bank member
high-income Australian territorial economy; key tourism and re-exportation industries; small labor force and declining participation creating more part-time jobs; former tax haven; increasing medical cannabis exporter; little transportation infrastructure
growing upper middle-income European economy; EU accession stalled due to Bulgarian dispute; new NATO member; private consumption-driven growth; investment declined due to COVID-19; regional economic power gains since Greek naming resolution
US Pacific island commonwealth economy; growing Chinese and Korean tourist destination; hit hard by 2018 typhoon; dependent on energy imports; exempt from some US labor and immigration laws; longstanding garment production
high-income non-EU European economy; aging labor force; large state-owned energy company constrains budget and spending; largest oil sovereign wealth fund; major fishing, forestry, and extraction industries; large welfare system
high-income, oil-based economy; large welfare system; growing government debt; citizenship-based labor force growth policy; US free trade agreement; diversifying portfolio; high female labor force participation
lower middle-income South Asian economy; extremely high debt; endemic corruption; major currency devaluation; major food insecurity and inflation; environmentally fragile agricultural sector; regional disputes with India and Afghanistan hinder investment
high-income Pacific island economy; environmentally fragile; subsistence agriculture and fishing industries; US aid reliance; rebounding post-pandemic tourism industry and services sector; very high living standard and low unemployment
upper middle-income Central American economy; increasing Chinese trade; US dollar user; canal expansion fueling broader infrastructure investment; services sector dominates economy; historic money-laundering and illegal drug hub
lower middle-income Pacific island economy; primarily informal agrarian sector; natural resource-rich; key liquified natural gas exporter; growing young workforce; slow post-pandemic recovery; increasingly impoverished citizenry; sustainable inflation
upper middle-income South American economy; COVID-19 hit while still recovering from 2019 Argentina-driven recession; global hydroelectricity leader; major corruption and money-laundering locale; highly agrarian economy; significant income inequality
upper middle-income South American economy; hit hard by political instability and COVID-19 but rebounding quickly; second-largest cocaine producer; current account balance improving; persistent income inequality; diversified exporter
diversified, growing East Asian economy; major semiconductor, ship-building, and electronics exporter; significant remittances; COVID-19 hit consumption and investments hard; regional tensions with China; major geothermal energy user
small South Pacific British island territorial economy; exports primarily postage stamps, handicraft goods, honey, and tinctures; extremely limited infrastructure; dependent upon UK and EU aid; recent border reopening post-COVID-19
diversified, high-growth European economy; COVID-19 led to first recession in nearly 3 decades, albeit small; EU and NATO member; bolstering US relations; economic concentration in western region; aging labor force; growing debt
fast-growing, high-income European economy; EU and NATO member; heavy Chinese infrastructure ownership; key tourism, banking, and telecommunications sectors; declining populations; major energy exporter
US Caribbean island territorial economy; hit hard by COVID-19 and hurricanes; declining labor force and job growth after a decade of continuous recession; capital-based industry and tourism; high poverty; energy import-dependent
high-income, oil-and-gas-based Middle Eastern economy; better regional integration after 2021 terrorism resolution; sports-led infrastructure investments; Islamic finance leader; citizenship-based labor force growth
high-income, service- and industrial-based European economy; EU member but non-euro user until convergence criteria met; sustained growth prior to COVID-19; major FDI recipient; flat taxation structure; digital hub of Eastern Europe
natural resource-rich Eurasian economy; leading energy exporter to Europe and Asia; decreased oil export reliance; endemic corruption, Ukrainian invasion, and lack of green infrastructure limit investment and have led to sanctions
fast-growing Sub-Saharan economy; major public investments; trade and tourism hit hard by COVID-19; increasing poverty after 2 decades of declines; Ugandan competition for regional influence; major coffee exporter; contested GDP figures
high-income French Caribbean territorial economy; duty-free luxury commerce and tourism industries; import-dependent for food, water, energy, and manufacturing; large Brazilian and Portuguese labor supply; environmentally fragile
upper middle-income, British Atlantic Ocean territorial economy; native (but pegged to British pound) currency user on 2 of 3 islands; significant UK financial support; unique land/farming commune structure; military-related economic activity; sport fishing locale
high-income, tourism-based Caribbean OECS economy; better debt balancing; CARICOM and ECCU member; growing offshore financial and telecommunications hub; environmentally fragile; unique citizenship-driven growth model
upper middle-income, tourism-based Caribbean island economy; environmentally fragile; energy import-dependent; major banana producer; well-educated labor force; key infrastructure, IT, and communications investments
high-income French Caribbean territorial economy; extremely reliant on tourism, with severe COVID-19 impacts; near-total destruction from Hurricane Irma in 2017; some offshore banking; import-dependent; duty-free commerce; yachting destination
high-income, French North American territorial economy; primarily fishing exports; substantial French Government support; highly seasonal labor force; euro user; increasing tourism and aquaculture investments
upper middle-income Caribbean island economy; key agriculture and tourism sectors; environmentally fragile; diversifying economy across services, science and knowledge, and creative industries; CARICOM member and US Caribbean Basin Initiative beneficiary
ower middle-income Pacific island economy; enormous fishing and agriculture industries; significant remittances; growing offshore financial hub; recently hosted Pacific Games to drive tourism and infrastructure growth
high-income, non-EU European economy; surrounded by Italy, which is the dominant importer and exporter; open border to EU and a euro user; strong financial sector; high foreign investments; low taxation; increasingly high and risky debt
ower middle-income Central African island economy; falling cocoa production due to drought and mismanagement; joint oil venture with Nigeria; government owns 90% of land; high debt, partly from fuel subsidies; tourism gutted by COVID-19
high-income, oil-based Middle Eastern economy; OPEC leader; diversifying portfolio; declining per-capita incomes; young labor force; key human capital gaps; heavy bureaucracy and increasing corruption; substantial poverty; low innovation economy
lower middle-income, services-driven West African economy; key mining, construction, agriculture, and fishing industries; tourism and exports hit hard by COVID-19; large informal economy; developing offshore oil and gas fields; systemic corruption
upper middle-income Balkan economy; current EU accession candidate; hit by COVID-19; pursuing green growth development; manageable public debt; new anticorruption efforts; falling unemployment; historic Russian relations; energy import-dependent
high-income Indian Ocean island economy; rapidly growing tourism sector; major tuna exporter; offshore financial hub; environmentally fragile and investing in ocean rise mitigation; recently discovered offshore oil potential; successful anticorruption efforts
low-income West African economy; primarily subsistent agriculture; key iron and diamond mining activities suspended; slow recovery from 1990s civil war; systemic corruption; high-risk debt; high youth unemployment; natural resource rich
high-income, service-based Southeast Asian economy; renowned for financial markets and Asian Infrastructure Exchange; business-driven regulations; low unemployment; electronics, oil, and chemicals exporter; continuing education investment
high-income, tourism-based Dutch autonomous constituent economy; severe hurricane- and COVID-19-related economic recessions; multilateral trust fund helping offset economic downturn; no property taxation; re-exporter to Saint Martin
high-income, EU-member European economy; major electronics and automobile exporter; new anticorruption and judiciary reforms; low unemployment; low regional innovation; strong financial sector
high-income, fast-growing EU-member economy; high human capital; key health infrastructure investments; high government spending; key Croatian investments; high-technology and manufacturing sectors; growing financial hub
lower middle-income Pacific island economy; natural resource rich but environmentally fragile; key agrarian sector; growing Chinese economic relationship; infrastructure damage due to social unrest; metal mining operations
low-income African Horn economy; 30 years of war and instability crippled economic potential; high remittances for basic survival; new fiscal federalism approach; cleared some unsustainable debt; environmentally fragile; digitally driven urbanization efforts
upper middle-income South African economy; hard hit by COVID-19; poor utilities management; key rare earth goods exporter; high income inequality; hosts Africa’s largest stock exchange; rising unemployment, especially youth; land rights changes
low-income, oil-based Sahelian economy; extreme poverty and food insecurity; COVID-19 and ongoing violence threaten socioeconomic potential; environmentally fragile; ongoing land and property rights issues; natural resource rich but lacks infrastructure
high-income core EU economy; diversified trade portfolio; continental tourism locale; high government spending and debt; prone to political financing corruption; negatively impacted by COVID-19; important port and customs infrastructure; key clothing/footwear supplier
lower middle-income South Asian island economy; extremely high public debts; rapid inflation; facing domestic food, fuel, and medicine shortages; tourism industry disrupted by COVID-19; known garment and commodities exporter; low foreign exchange reserves
low-income Sahel economy; one of the world’s major agricultural exporters; shared oil pipeline exports with South Sudan; transitional government increasing human capital investment; food prices hit hard by COVID-19; ongoing Gezira Scheme irrigation project
upper middle-income South American economy; new floating currency regime; key aluminum goods, gold, and hydrocarbon exporter; new IMF plan for economic recovery and fiscal sustainability; controversial hardwood industry
high-income Norwegian island economy; major coal mining, tourism, and research sectors; recently established northernmost brewery; key whaling and fishing base; home to the Global Seed Vault
small, open, competitive, and thriving economy that remains outside of the euro zone; has achieved an enviable standard of living, with its combination of free-market capitalism and extensive welfare benefits
high-income, non-EU European economy; renowned banking and financial hub; extremely low unemployment; highly skilled but aging workforce; key pharmaceutical and precision manufacturing exporter; fairly high public debt
low-income Middle Eastern economy; prior infrastructure and economy devastated by 11-year civil war; ongoing US sanctions; sporadic trans-migration during conflict; currently being supported by World Bank trust fund; ongoing hyperinflation
high-income East Asian economy; most technologically advanced computer microchip manufacturing; increasing Chinese interference threatens market capabilities; minimum wages rising; longstanding regional socioeconomic inequality
lower middle-income Central Asian economy; key gold, cotton, and aluminum exporter; declining poverty; sustained high growth; very limited private sector; substantial illicit drug trade; significant remittances; environmentally fragile
emerging lower middle-income East African economy; resource-rich and growing tourism; strong post-pandemic recovery from hospitality, electricity, mining, and transit sectors; declining poverty; stable inflation; gender-based violence economic and labor force disruptions
upper middle-income Southeast Asian economy; substantial infrastructure; major electronics, food, and automobile parts exporter; globally used currency; extremely low unemployment, even amid COVID-19; ongoing Thailand 4.0 economic development
lower middle-income Southeast Asian economy; government expenditures funded via oil fund drawdowns; endemic corruption undermines growth; foreign aid-dependent; wide-scale poverty, unemployment, and illiteracy
low-income West African economy; primarily agrarian economy; has a deep-water port; growing international shipping locale; improving privatization and public budgeting transparency; key phosphate mining industry; extremely high rural poverty
small New Zealand territorial island economy; labor force can work in New Zealand or Australia; significant remittances; largely solar-powered infrastructure; reliant on New Zealand funding; stamp, coin, and crafts producer
upper middle-income Pacific island economy; enormous diaspora and remittance reliance; key tourism and agricultural sectors; major fish exporter; rapidly growing Chinese infrastructure investments; rising methamphetamine hub
high-income Caribbean economy; major hydrocarbon exporter; key tourism and finance sectors; high inflation and growing public debt; long foreign currency access delays; large foreign reserves and sovereign wealth fund
lower middle-income North African economy; drafting reforms for foreign lenders; high unemployment, especially for youth and women; hit hard by COVID-19; high public sector wages; high public debt; protectionist austerity measures; key EU trade partner
upper middle-income, diversified Middle Eastern economy; economic instability from 2016 attempted coup and 2018 currency recession; hit hard by COVID-19, increasing poverty and unemployment; endemic corruption; large agriculture labor force
upper middle-income Central Asian economy; has 10% of global natural gas reserves, exporting to Russia and China; natural resource rich; authoritarian and dominated by state-owned enterprises; major central-south Asian pipeline development
British Caribbean island territorial economy; GDP and its tourism industry hit hard by COVID-19 disruptions; major biodiversity locale; US dollar user; fossil fuel dependent; negative trade balance; increasing unemployment
upper middle-income Pacific island economy; extremely environmentally fragile; currency pegged to Australian dollar; large international aid recipient; subsistence agrarian sector; Te Kakeega sustainable development; domain name licensing incomes
low-income, primarily agrarian East African economy; COVID-19 hurt economic growth and poverty reduction; lower oil prices threaten prior sector investments; endemic corruption; natural resource rich; high female labor force participation but undervalued
lower middle-income non-EU Eastern European economy; key wheat, corn, and industrials exporter; emerging electronics producer; war-related massive labor shortages and displacement, as well as environmental destruction of agricultural areas; critical humanitarian and military aid recipient; large inflation and poverty increases; wartime data collection inconsistencies for Western areas
historically oil-driven Middle Eastern economy; diversifying into a trade-oriented logistics and supply chain leader; weak domestic business growth; declining real estate sector; new Israeli technology trade improving resilience; key aid donor
high-income, diversified non-EU European economy; sixth-largest importer and exporter; global financial and diplomatic leader; nominal consumption-led growth; high inflation and increased interest rates eroding purchasing power despite real wage growth
high-income, diversified North American economy; NATO leader; largest importer and second-largest exporter; home to leading financial exchanges; high and growing public debt; rising socioeconomic inequalities; historically low interest rates; hit by COVID-19
high-income, export-oriented South American economy; South America’s largest middle class; low socioeconomic inequality; growing homicide rates; growing Chinese and EU relations; 2019 Argentine recession hurt; key milk, beef, rice, and wool exporter
lower middle-income Central Asian economy; CIS Free Trade Area member but no intention of EAEU membership; key natural gas, cotton, and gold exporter; landlocked and environmentally fragile; positive growth through COVID-19, but poverty increasing
lower-middle income Pacific island economy; extremely reliant on subsistence agriculture and tourism; environmentally fragile; struggling post-pandemic and Tropical Cyclone Harold rebound; sizeable inflation; road infrastructure aid from Australia
South American economy; ongoing hyperinflation since mid-2010s; chaotic economy due to political corruption, infrastructure cuts, and human rights abuses; in debt default; oil exporter; hydropower consumer; rising Chinese relations
lower middle-income socialist East Asian economy; rapid economic growth since Đổi Mới reforms; strong investment and productivity growth; tourism and manufacturing hub; TPP signatory; declining poverty aside from ethnic minorities; systemic corruption
high-income, tourism-based American territorial economy; severe COVID-19 economic disruptions; major rum distillery; high public debt; sluggish reopening of large oil refinery; environmentally susceptible to hurricanes; many informal industries
lower-middle-income, agrarian French dependency economy; heavily reliant on French subsidies; licenses fishing rights to Japan and South Korea; major remittances from New Caledonia; aging workforce; import-dependent; deforestation-fueled fragility
low-income Middle Eastern economy; infrastructure, trade, and economic institutions devastated by civil war; oil/gas-dependent but decreasing reserves; massive poverty, food insecurity, and unemployment; high inflation
lower middle-income Sub-Saharan economy; major copper exporter; high public debt is held mostly by China; systemic corruption; one of youngest and fastest growing labor forces; regional hydroelectricity exporter; extreme rural poverty
low income Sub-Saharan economy; political instability, protest crackdowns, and COVID-19 have damaged economic potential; reliant on natural resource extraction and agriculture; endemic corruption; ongoing hyperinflation