Standardised coverage and timely analysis of natural resources he...
Standardised coverage and timely analysis of natural resources helping you to understand the opportunities and risks commodities brings business and economies today.
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…
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…
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…
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…
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…
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 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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
Eritrea's political environment is marked by persistent autocracy, with no movement towards democratisation. Corruption is rampant, and tensions with neighbouring countries persist. Military-controlled economy, reliance on remittances and exposure to…
Eswatini, Africa's last absolute monarchy, faces challenges with limited economic freedom and growing corruption. Country’s economy, heavily influenced by South Africa and suffering from high unemployment, is expected to underperform compared to its…
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…
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…
In Djibouti, authoritative governance is restricting civic liberties with deteriorating perception of corruption. However, despite being "mostly unfree," the country’s economy attracts foreign investments and maintains inflation control via a…
Although government finances improved in El Salvador, the state continues to exhibit authoritarian tendencies and corruption remains an issue. Whilst inflation has fallen, economic momentum is moderating and the country’s high dependence on…
Although perceptions are improving, corruption remains pervasive and economic freedom has deteriorated. Ethiopia’s economy is resilient and has outperformed peers, partly driven by foreign investment, but inflation is high and dependence on…
Myanmar’s military has created significant instability for the country, whilst corruption continues to be rife and economic freedom has worsened. High inflation is causing the economy to stall and the foreign investment climate has worsened…
Oman is managing its state finances well and its absolute monarchy creates stability, but economic freedom remains constrained. Whilst the economy is slowing, high oil prices have been supportive and inflation is low, but reliance on oil is large and…
Although corruption remains a problem and the rule of law is weak, Tanzania’s state finances are sustainable and economic freedom is improving. Economic momentum is robust and inflation is well contained, but reliance on agriculture continues to be…
Technological advances in 2024 will continue to reshape consumer behaviour. This annual report explores the top five digital shopper trends that will redefine commerce the most in the year ahead. Some of the trends included in this report’s edition…
The British Virgin Islands’ (BVI) tax haven status is damaging the territory’s reputation and could lead to political instability. Economic performance is likely to outpace peers in the short term, owing to tourism recovery and strength in financial…
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…
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…
Gabon faces challenges of corruption and a trend towards dynastic politics, yet shows signs of financial improvement. Country’s high reliance on oil is being counterbalanced by diversification efforts and foreign investment, particularly through…
In Guinea, political challenges stem from a leaning towards autocracy and persistent corruption. The country benefits from the mining sector yet faces high inflation and dependency on external funds. Rapid population growth and urbanisation strain…
Haiti suffers from considerable political instability and corruption is rife. Economic development will be severely hindered in the short term, owing to the devastation caused by the 2021 earthquake and the unstable political landscape, with…
Iceland benefits from its low levels of corruption, political stability and economic freedom. The economy is set for a strong performance, leans heavily on sectors like tourism and fishing, alongside a stable currency and progressive tax incentives…
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,…
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…
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…
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…
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…
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…
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…
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…
A lack of corruption, government stability, and high levels of economic freedom characterise Luxembourg. Strength in financial services and adaption to remote working has served the economy well, which could outperform peers going forward.…
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…
Madagascar faces political instability and limited economic freedom, hindering structural reforms. While the primary sector underpins the economy, high inflation and elevated poverty rates challenge growth. Despite a young, expanding population and…
Malawi has relatively stable governments, yet deteriorating global peace and terrorism rankings suggests concerns over increasing violence. Economic forecasts are optimistic, with growth expected to exceed that of regional peers over the long term,…
Mali's political scene is marked by instability, significant military influence, and widespread corruption, with large areas beyond government control. Mali’s undiversified economy is reliant on international aid and its agriculture sector. The…
Malta is mostly free, helping businesses to flourish, but corruption is relatively widespread compared to regional peers. Foreign investors flock to the island, eager to participate in the financial services sector, but dependence on tourism and…
Although Martinique does not suffer from undue corruption, its political environment has been prone to secessionist tendencies. Given that the economy is highly dependent on tourism, its recovery from the Coronavirus (COVID-19) pandemic remains slow.…