Commodities

Although political instability and corruption continue to be themes in Peru, economic freedom is the third best in South America. Inflation is falling, but the economy is slowing and copper exports could be hindered further, whilst uncertainty in the…

A weak rule of law and endemic corruption hamper economic freedom in Paraguay, although the tax burden remains very low and government finances are sustainable. In the medium term, the economy will outperform the regional average and inflation has…

Papua New Guinea faces considerable hurdles, marked by pervasive corruption and limited economic freedom. Country’s economy, heavily reliant on the uncertain global commodity market, is further strained by low productivity due to extensive…

Corruption undermines economic freedom in Panama and protests have been widespread, although state finances are strengthening. Economic momentum has slowed, but foreign investment is increasing and the Panama Canal continues to play an important role…

Pakistan’s ‘repressed’ status for economic freedom is largely due to political instability and the undue influence of the military. The economy performed better than peers, but suffers from high inflation and interest rates that suppress growth,…

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…

Norway enjoys considerable economic freedom and adheres strongly to the rule of law, whilst state finances are in rude health. Output development is slowing, owing to challenges for the global economy, but inflation is under control and exports have…

Although economic freedom has worsened and political instability persists, state finances have improved and taxation is low. North Macedonia’s economy has struggled under the weight of elevated inflation, but this is falling and foreign investment…

North Korea’s autocratic regime is the most repressed globally for economic freedom, which propagates corruption, but sanctions could bring the country to the negotiating table. The command economy has been crippled by these sanctions, and remains…

Weakness in the rule of law is negatively impacting economic freedom in Nigeria, as does pervasive corruption. Significant reliance on the oil sector can lead to volatile economic development, whilst persistently high inflation is adversely affecting…