Commodities

An unbiased judiciary weakens the rule of law and corruption is more prevalent, but the business environment continues to thrive. Although the economy is expected to slow markedly in the short term owing to high inflation, medium-term prospects are…

Corruption amongst high-ranking state officials has heightened political instability in Portugal, whilst public debt remains elevated. Economic momentum is slowing, but inflation has fallen markedly and technological prowess is supporting foreign…

Puerto Rico, a US territory, grapples with economic challenges such as high unemployment and debt amid debates about its political status. Culturally diverse, the island faces social issues like poverty and emigration. Yet, initiatives in technology,…

Low taxation adds to Qatar’s economic freedom, but democracy is lacking and power is hereditary. Hydrocarbons are the mainstay of the economy, making the export base very undiversified, but inflation is falling and infrastructure is expected to be…

Réunion, governed as a French overseas department is politically stable and has solid regulatory environment. Réunion’s economy is marked by high unemployment and dependency on imports, with France being a major economic support. The island has a…

Corruption continues to hamper economic freedom and fiscal health could be improved, but Romania has entered a period of political stability. Economic development is set to slow, as high inflation erodes purchasing power and has led to greater…

Rwanda's political landscape is marked by a strong ruling party and improving global peace rankings, though challenges in fiscal health persist. Economic growth is set to surpass regional average, fuelled by consumption and services sector, despite…

Samoa is a politically stable country with a budget surplus. However, the large influence of the state and significant exposure to tourism could weigh on economic performance in the medium term. Although the country is young and growing, its…

High public debt and an inefficient judiciary characterise Sao Tomé e Príncipe (STP). Although the economy was negatively impacted by the Coronavirus (COVID-19) pandemic, adversely affecting tourism and commodity exports, recovery is nearing its…

Political opposition and civil liberties are restricted in Saudi Arabia, whilst its economic freedom continues to face challenges. The economy has performed strongly, but is set to slow down and reliance on oil remains high, although inflation is…

Senegal's political landscape is marked by free elections and strong secularism, yet faces challenges with worsening peace and corruption perceptions. The economic growth is set to accelerate in 2024, bolstered by hydrocarbon production. The young…

Increasing authoritarianism and corruption are resulting in mass protests, although fiscal discipline is leading to better state finances. Economic momentum is slowing, owing to high inflation and reduced external demand, but foreign investment…

Seychelles stands out in Africa with its stable political landscape and low corruption, but grapples with fiscal challenges. The economy is poised for recovery, driven by a resurgent tourism sector, though its heavy reliance on this industry presents…

In Sierra Leone, governance is being influenced by informal networks and traditional authorities. Global terrorism ranking is improving, but state finances are deteriorating. The country faces challenges from inflation and low economic…

Singapore’s economic freedom is the best in the world, although civil liberties are restricted and corruption is on the rise. Economic momentum is slowing and the external sector is susceptible to global cyclical changes, but inflation is well…

Dependence on the Netherlands for fiscal support is a source of uncertainty for Sint Maarten. Crime rates are high and the country’s sovereign credit has been downgraded. Excessive reliance on tourism caused a severe recession, given the impact of…

Despite the business landscape enjoying relative economic freedom, political instability has been a common feature of Slovakia. Although joblessness is relatively low, wages are increasing, also adding to very high inflation, whilst the war in…

Although Slovenia has been beset by political instability and corruption remains an issue, its economic freedom is one of the best in Eastern Europe. However, the economy is slowing, as inflation is elevated, whilst its highly open nature exposes its…

Although government finances are solid and monetary freedom rank high, the Solomon Islands suffers from pervasive corruption and low investment freedom. Economic performance is expected to be below peers over the near term. The population is young…

Somalia is characterised by corruption and extremely distressed government stability indicators. The economy has much potential, albeit from a low base, with the state prioritising foreign investment in the future. Nevertheless, reliance on…