Commodities

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…