Commodities

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…

Dominica enjoys relative political stability but whilst corruption is not a major problem, it has permeated the executive branch of government. Considerable dependence on agriculture and an underdeveloped tourism sector will lead to economic…

Cyprus is relatively free and peaceful, but disputes over offshore hydrocarbon resources remain heated. Economic growth is forecast to slow down over the near term, while inflation is set to decline and remain below the regional average. Ageing is…

As one of the most ‘repressed’ countries globally, the autocratic communist regime is also creating social tensions. US sanctions continue to wreak havoc with the path of economic development, whilst Cubans leaving the country surge amid economic…

The Democratic Republic of Congo (DRC) is afflicted with growing political divisions in a precarious security and humanitarian climate. Growth should be supported by the mining sector in 2021, as trade improves and inflation descends. Strong…

Congo-Brazzaville faces significant challenges with low levels of government transparency and pervasive corruption. The economy is heavily reliant on oil, yet efforts towards diversification are in progress. The population is young, however, is…

Comoros is ‘mostly unfree’ in economic freedom ranking, with corruption prevalent and civil liberties restricted. The economy is expected to outpace regional peers in the short term, but the economic base is narrow and exports are undiversified. The…

Chile enjoys economic freedom and relatively low corruption, which has helped its private sector to develop, although political instability remains. The economy is slowing down markedly, as copper production is impeded, and unemployment is relatively…

Chad faces endemic corruption and autocratic governance, with ongoing terrorism threats. Economic growth is set to outpace regional peers over the long term due to relatively contained inflation, FDI inflows and oil revenues. The rapidly growing…

Limited taxation adds to Vanuatu’s economic freedom. However, competing factions destabilise the political landscape. Exposure to tourism will lead to output underperformance versus peers in the short term, whilst large agricultural activities also…

The global wheat market in 2023 has seen a recovery in supply, following tight global supply and skyrocketing wheat prices in 2022 resulting from the onset of the war in Ukraine. Increased wheat exports from Russia, readjustments of supply chains and…

In the Central African Republic, political instability and violence persist, with the government's control limited largely to the capital. Endemic corruption and high levels of violence further exacerbate challenges in an economy highly reliant on…

The Cayman Islands benefit from political stability, but their position as a secretive financial offshore centre raises incidences of corruption. Tourism is the main economic activity, which has been negatively impacted by the pandemic yet aided…

Cabo Verde has one of the most politically stable landscapes in Africa. However, the country stands among the ‘moderately free’ in economic freedom ranking. Continuous recovery of tourism helps to maintain economic growth, which is expected to remain…

Burundi faces significant challenges marked by political instability and rampant corruption. High public debt raises concerns about fiscal health. The country’s largely agricultural economy is affected by energy shortages and minimal foreign…

Political stability is being addressed by the Solih government, in particular state corruption. Economic growth should return in 2021, following the deleterious effect of the Coronavirus (COVID-19) pandemic in 2020, but the country needs to move…

Although state finances have been improving, Iraq suffers from significant corruption and external interference in its domestic affairs. Inflation has been well controlled, but lower oil production could plunge the economy into recession in the short…

Whilst Ghana enjoys a relatively low tax burden, public debt is rising and the state is increasingly stamping out opposition. Economic momentum is slowing in light of inflationary pressures, but the foreign investment climate looks promising. Whilst…

Although Côte d’Ivoire is politically stable, corruption is rife and the rule of law is weak, whilst state finances have deteriorated. Economic momentum continues to outperform the regional average and inflation is low, but exposure to agriculture is…

Burkina Faso faces challenges amid political instability, violence and weak rule of law. Economic challenges are compounded by external shocks and a dependence on agriculture, yet rising mining exports offer some respite. Country’s young, growing…