Commodities

Liechtenstein showcases governmental stability, minimal corruption, and high economic freedom. Its robust financial sector and swift adaptation to remote work fuel its economy, potentially outpacing peers. However, an aging population may strain…

Years of conflict have led to political instability in Libya. Rule of law is ineffective and corruption remains a major problem. Heavy reliance on hydrocarbons makes the economy extremely vulnerable to oil price shocks, whilst the precarious security…

Liberia has managed its government finances effectively. Peacefulness in the country is also increasing, following turbulence caused by the 2017 elections, but corruption persists. The economy is set to outperform the regional average, whilst foreign…

Lesotho is undergoing intensive reforms to strengthen institutions and enhance public service transparency, yet it faces challenges like persistent corruption and a rising budget deficit. Economic growth lags behind regional peers, with a reliance on…

Corruption and political instability are impeding economic freedom, whilst the public-debt-to-GDP ratio is one of the highest globally. Although the economy is relatively well diversified, uncertainty could hamper its development and hyperinflation…

Improving state finances and effective control of corruption are adding to Latvia’s economic freedom, but relations with neighbours continue to be tense. Economic momentum is moderating, owing to high inflation that is hitting consumption, but the…

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…

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…

Frequent government changes have led to political instability in Kuwait and corruption is pervasive, although state finances remain in rude health. A strong economic performance is due to high oil prices, as well as solid domestic demand, but…

Kosovo has suffered from significant political instability, whilst corruption is pervasive. Nevertheless, European Union (EU) accession is on the cards and the economy is expected to outperform peers in the near term. The consumer market remains…

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…

Although economic freedom is limited and endemic corruption persists, international assistance is helping government finances in Kenya. Whilst economic growth is slowing, adversely impacted by high inflation, infrastructure upgrades will be…

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 Jordan’s tax burden is relatively low, limited economic freedom hinders private sector progress and state finances are stressed. Economic recovery is continuing and inflation is very low, but the foreign investment climate faces challenges…

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…

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,…

Italy’s high public debt is a threat to stability and negatively affects economic freedom, but anti-corruption legislation has been reinforced. Economic growth is forecast to be subdued, as rising borrowing costs bite, and foreign investment is…

Although Israel enjoys economic freedom, the war with Hamas is weighing on the country’s economic outlook. A resilient economy is slowing, as higher defence spending burdens state finances and business activity is interrupted by the conflict, but…

As one of the freest countries in the world, Ireland’s private sector enjoys considerable economic freedom, whilst state finances are solid. Robust economic momentum is giving way to a slowdown, as inflationary pressures persist, although exports…

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…