Commodities

Anguilla enjoys political stability and low corruption levels, with relatively high trust in the government. Its economy was severely impacted by the Coronavirus (COVID-19) pandemic, given its substantial exposure to tourism. However, the country…

Antigua and Barbuda has autonomy over its political affairs. However, the country is prone to corruption and suffers from high public debt. The country swiftly recovered from the pandemic-related economic downturn, thanks to rebounding tourism.…

Economic freedom is lacking in Argentina and the political landscape is unstable, whilst corruption continues to infiltrate the highest echelons of power. Hyperinflation is causing economic pain; however, currency weakness could help exporters. A…

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…

Aruba has a stable political environment with solid governance. However, perceptions of corruption are rising on the island. As one of the most dependent territories on tourism in the world, the Coronavirus (COVID-19) pandemic has ravaged the economy…

Australia is one of the freest economies in the world, with limited corruption and improving government finances. The economy is facing slowing growth and inflation continues to be high, but the export environment is becoming more favourable as…

Although Austria enjoys solid economic freedom and a strong rule of law, a shift to the far right could create policymaking instability. Whilst unemployment is relatively low and inflation is falling, the economy is set for a marked slowdown in the…

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.…

Limited taxation enables The Bahamas to enjoy relative economic freedom, but state finances are deteriorating. Significant exposure to tourism and adverse weather could scupper economic development in the short term, whilst unemployment is high. A…

Although Bahrain’s political system lacks freedoms and corruption remains pervasive, an extremely low tax burden raises economic freedom. Whilst inflation has again entered negative territory and economic development is moderating, the foreign…

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…

Barbados enjoys political stability and is relatively free of corruption. Its break from the Commonwealth could destabilise this institution in the long term. Economic activity has been severely curtailed by the Coronavirus (COVID-19) pandemic, given…

Whilst some aspects of economic freedom require improvement and corruption is growing, as is political instability, Belgium enjoys a strong rule of law. Inflation has been falling, but the economy is underperforming the peer average, although it is…

Belize’s future remains uncertain, given claims over its territory, whilst corruption is rife. Substantial exposure to tourism could aid the economic rebound from the Coronavirus (COVID-19) pandemic, but foreign investment prospects remain bright.…

In Benin, economic freedom is on the rise alongside advancements in tackling corruption, yet it is constrained by a decline in democratic principles and increasing public debt. While the economic growth is set to outpace regional peers, it is…

Bermuda has a stable political environment. However, state finances are stretched and could be further pressurised by a rapidly-ageing populace. The economy is expected to outperform peers in the short term, supported by solid activity in the…

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…

Considerable state involvement hinders economic freedom in Bolivia, whilst government finances remain weak and a threat to stability. Although inflation has been controlled effectively, through subsidies and solid food production, the economy is…

Candidacy for European Union (EU) membership could improve Bosnia and Herzegovina’s (BiH) economic freedom, although corruption is pervasive. The country has a relatively diversified economic base and whilst inflation is moderating, the economy is…

Botswana is among the freest countries in Sub-Saharan Africa, with cultural emphasis on peace and participation. The economy, led by the diamond trade, has rebounded post-pandemic, yet faces challenges in export diversification and a high youth…