Commodities

Although generally stable and democratic, Jamaica is failing to control organised crime and corruption. Economic growth swiftly returned after the pandemic, but the country is over-reliant on the US. Consumer expenditure is growing, but ageing,…

Iceland benefits from its low levels of corruption, political stability and economic freedom. The economy is set for a strong performance, leans heavily on sectors like tourism and fishing, alongside a stable currency and progressive tax incentives…

Haiti suffers from considerable political instability and corruption is rife. Economic development will be severely hindered in the short term, owing to the devastation caused by the 2021 earthquake and the unstable political landscape, with…

In Guinea, political challenges stem from a leaning towards autocracy and persistent corruption. The country benefits from the mining sector yet faces high inflation and dependency on external funds. Rapid population growth and urbanisation strain…

Gabon faces challenges of corruption and a trend towards dynastic politics, yet shows signs of financial improvement. Country’s high reliance on oil is being counterbalanced by diversification efforts and foreign investment, particularly through…

French Polynesia receives considerable support from France. Nevertheless, pro-independence party won elections in 2023, which has the potential for increased tensions between French Polynesia and France. Rebounding tuourism may support post-pandemic…

Brunei Darussalam enjoys political stability and low levels of corruption. However, civil liberties are impinged upon by autocratic rule. With huge reliance on hydrocarbons, the economy is prone to various risks. An ageing populace could exert…

The British Virgin Islands’ (BVI) tax haven status is damaging the territory’s reputation and could lead to political instability. Economic performance is likely to outpace peers in the short term, owing to tourism recovery and strength in financial…

Technological advances in 2024 will continue to reshape consumer behaviour. This annual report explores the top five digital shopper trends that will redefine commerce the most in the year ahead. Some of the trends included in this report’s edition…

Although corruption remains a problem and the rule of law is weak, Tanzania’s state finances are sustainable and economic freedom is improving. Economic momentum is robust and inflation is well contained, but reliance on agriculture continues to be…

Oman is managing its state finances well and its absolute monarchy creates stability, but economic freedom remains constrained. Whilst the economy is slowing, high oil prices have been supportive and inflation is low, but reliance on oil is large and…

Myanmar’s military has created significant instability for the country, whilst corruption continues to be rife and economic freedom has worsened. High inflation is causing the economy to stall and the foreign investment climate has worsened…

Although perceptions are improving, corruption remains pervasive and economic freedom has deteriorated. Ethiopia’s economy is resilient and has outperformed peers, partly driven by foreign investment, but inflation is high and dependence on…

Although government finances improved in El Salvador, the state continues to exhibit authoritarian tendencies and corruption remains an issue. Whilst inflation has fallen, economic momentum is moderating and the country’s high dependence on…

In Djibouti, authoritative governance is restricting civic liberties with deteriorating perception of corruption. However, despite being "mostly unfree," the country’s economy attracts foreign investments and maintains inflation control via a…

Although state finances remain sustainable, the ruling party’s grip on power is eroding democracy and freedoms, whilst corruption remains a key problem. Economic growth continues to be robust, but external sector weakness exists and dependence on…

Fiji has fallen among ‘mostly unfree’ for economic freedom, with persisting political uncertainty and worsening fiscal health. Nevertheless, over the near future, economic growth should be relatively strong as tourism rebounds. Consumer expenditure…

Eswatini, Africa's last absolute monarchy, faces challenges with limited economic freedom and growing corruption. Country’s economy, heavily influenced by South Africa and suffering from high unemployment, is expected to underperform compared to its…

Eritrea's political environment is marked by persistent autocracy, with no movement towards democratisation. Corruption is rampant, and tensions with neighbouring countries persist. Military-controlled economy, reliance on remittances and exposure to…

Equatorial Guinea faces low levels of economic freedom and pervasive corruption, with significant political instability. Country’s economy, heavily dependent on hydrocarbons, is threatened by declining oil production, despite growth seen in 2022. The…