Commodities

American Samoa receives considerable aid from the US, but has a stable political landscape. The economic base is very narrow and largely involves fisheries. However, there is significant scope for tourism development. Age-related issues are expected…

Armenia's economic freedom ranking has declined to 'moderately free,' marked by persistent corruption and ongoing high tensions with neighboring Azerbaijan. Despite these challenges, economic growth is projected to remain robust in 2023, surpassing…

Azerbaijan’s authoritarian tendencies undermine democracy, whilst tensions with neighbours are increasing. Maintenance in the oil sector adversely affected the economy and the sector’s dominance continues to result in limited export diversification.…

Although public debt is contained, Bangladesh has major challenges for economic freedom and corruption remains endemic. The economy has performed strongly, but inflation is rising as a result of political instability and reliance on textiles is…

Although Bhutan has solid rankings for peace and terrorism, a lack of trade freedom is inhibiting economic freedom. Owing to the Coronavirus (COVID-19) pandemic and its effect on tourism, the economy is likely to struggle in the short term, although…

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…

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…

Economic freedom is negatively impacted by authoritarianism in China, with the state becoming increasingly repressive. The zero-COVID-19 policy has adversely affected the economy, but removal of restrictions could result in strong short-term…

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…

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…

The US’s large military presence on Guam makes the territory a target for attacks by nations looking to lower US power in Asia Pacific. Guam is highly reliant on US federal funding, exposing the territory to changes in US military spending. Tourism…

China’s increasing influence on Hong Kong’s political scene continues to undermine democracy. The economy is expected to recover well and inflation is under control, but the currency’s peg to the US dollar is leading to higher borrowing costs.…

India has a relatively stable political environment, but discrimination of minority groups is on the rise and the country has weak state finances. Economic development has outpaced peers and prospects for international trade are positive, although…

Recent policies are eroding democracy and corruption is rife, although economic freedom has improved in the short term. The economy has proven to be resilient, helped by higher exports, whilst inflation is moderating and the prospects for foreign…

Economic freedom in Japan continues to benefit the private sector, as does limited corruption, but fiscal health remains weak. Unemployment is low, but the economy faces external forces that are weakening its performance. Ageing and depopulation…

Weakness in the rule of law negatively impacts economic freedom in Kazakhstan and the state’s authoritarian tendencies remain, but government finances are solid. Although the economy is set to perform relatively well, the export base is undiversified…

Although Kiribati enjoys political stability, a lack of business freedom has resulted in a poor ranking for economic freedom overall. Its narrow economic base prevents employment creation, resulting in high joblessness, whilst it is also highly…

Political instability is frequent and Kyrgyzstan fell into ‘mostly unfree’ for economic freedom ranking. Economic growth is forecast to be slower than peers and below the pre-pandemic levels. Population growth will add to consumer market appeal and a…

An authoritarian stance continues to curb civil liberties and public debt is dangerously elevated in Laos. Although falling, inflation remains very high and is negatively impacting the economy and consumption, whilst the low unemployment rate is…

Macau, China benefits from political stability, but its ageing population could make increasing demands on government finances in the future. As the world’s largest gambling hub, Macau’s economy is heavily dependent on revenues from casinos, making…