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Tonga’s economy is characterized by a significant nonmonetary sector, reflecting traditional subsistence practices and informal economic activities that operate outside formal market transactions. A substantial portion of the country’s economic sustenance derives from remittances sent by approximately half of the Tongan population residing abroad, primarily in countries such as Australia, New Zealand, and the United…

The economy of Togo has confronted numerous and persistent challenges, positioning the country among the poorest nations worldwide. Despite efforts to stimulate growth and development, Togo’s economic landscape remains constrained by structural weaknesses and external pressures that have hindered progress over several decades. According to data provided by the International Monetary Fund (IMF), Togo is…

The economy of Timor-Leste is classified by the World Bank as a lower-middle income economy, reflecting its transitional status as a developing nation working to improve its economic infrastructure and social services. This classification situates Timor-Leste above the low-income threshold but still facing significant challenges in achieving higher income levels and sustainable economic growth. The…

The United States possesses a highly developed mixed economy, distinguished by its status as the world’s largest economy by nominal gross domestic product (GDP) and the second largest by purchasing power parity (PPP) as of 2025. This dual ranking reflects the country’s immense economic output measured in current U.S. dollars and adjusted for relative cost…

The United Kingdom possesses a highly developed social market economy, characterized by a blend of free-market capitalism alongside a comprehensive welfare state and regulatory framework. Between 2017 and 2025, the UK ranked as the sixth-largest national economy globally when measured by nominal gross domestic product (GDP), underscoring its significant economic scale on the world stage….

The United Arab Emirates (UAE) is classified as a high-income developing market economy, reflecting its substantial wealth combined with ongoing efforts to modernize and diversify its economic base. This classification denotes a nation that, while possessing significant financial resources and infrastructure, continues to develop its institutional frameworks and market mechanisms to achieve sustained economic growth….

The economy of the Philippines is classified as an emerging market and is recognized as a newly industrialized country within the Asia-Pacific region. This classification reflects the country’s transition from an agriculture-based economy to one increasingly dominated by manufacturing and services, alongside ongoing industrialization and urbanization. As a newly industrialized country, the Philippines exhibits characteristics…

The economy of the Netherlands is characterized by its highly developed market structure, which places significant emphasis on trade and logistics, manufacturing, services, innovation and technology, as well as sustainable and renewable energy sectors. This multifaceted economic foundation supports a diverse range of industries and reflects the country’s strategic geographic position and historical role as…

The government of the Marshall Islands has historically been the largest employer within the country, accounting for 30.6% of the total workforce. This figure, however, reflects a gradual decline in government employment since 1988, when the share stood higher by 3.4 percentage points. The reduction in government employment over the decades can be attributed to…

In ancient times, the Maldives established a reputation as a significant exporter of various natural products that were highly sought after in international markets. Among these exports were cowries, which served not only as currency in many parts of Asia and Africa but also as decorative items and symbols of wealth. The islands also produced…

The Gambian economy has long been heavily reliant on agriculture, which forms the cornerstone of its economic activities and serves as the primary source of livelihood for the majority of its population. Agriculture in the Gambia encompasses both crop cultivation and livestock rearing, with a significant proportion of the rural population engaged in subsistence farming….

The economy of the Federated States of Micronesia (FSM) has traditionally been grounded in subsistence agriculture and fishing, activities that continue to form the backbone of the livelihoods of the majority of its population. These practices reflect the deep-rooted cultural and historical dependence on the natural environment, where small-scale farming and coastal fishing provide essential…

The economy of the Dominican Republic holds a prominent position within the Latin American and Caribbean regions, ranking as the seventh largest economy in Latin America and standing as the largest in both the Caribbean and Central America. This ranking underscores the country’s significant regional economic stature, reflecting its diverse and expanding economic activities. The…

The economy of the Democratic Republic of the Congo (DRC) underwent a severe and protracted decline during the years leading up to and throughout the First and Second Congo Wars, which spanned from 1996 to 2003. Despite the country’s extraordinary endowment of natural resources and immense mineral wealth, these conflicts devastated economic infrastructure, disrupted production,…

The economy of the Czech Republic is characterized by its status as a developed, export-oriented social market economy that emphasizes services, manufacturing, and innovation. This economic structure supports a high-income welfare state that aligns closely with the European social model, which combines free-market capitalism with social policies that promote social justice and equitable wealth distribution….

The economy of the Comoros is predominantly anchored in subsistence agriculture and fishing, which together form the backbone of the nation’s limited economic activity. This reliance reflects the relatively underdeveloped state of industrial and commercial sectors within the country, where manufacturing and large-scale trade remain minimal. The predominance of small-scale farming and artisanal fishing underscores…

The economy of the Central African Republic (CAR) registered a gross domestic product (GDP) of approximately $2.321 billion in 2019, reflecting the overall scale and output of its economic activities at that time. Despite this figure, the country’s economic performance remains modest when compared to global standards, underscoring the challenges faced by this landlocked nation….

The economy of the Bahamas has long been predominantly reliant on two principal sectors: tourism and offshore banking. Tourism serves as the cornerstone of economic activity, drawing millions of visitors annually to the archipelago’s pristine beaches, luxury resorts, and vibrant cultural attractions. This sector not only generates substantial foreign exchange earnings but also provides employment…

The economy of Thailand has demonstrated a strong reliance on exports, which accounted for approximately 58 percent of the country’s gross domestic product (GDP) in 2021. This significant dependence on international trade underscores Thailand’s integration into the global market and its role as a major exporter of goods such as electronics, automobiles, agricultural products, and…

The economy of Tanzania is classified as a lower-middle-income economy, characterized by a diverse range of key sectors that contribute significantly to its gross domestic product (GDP). Among the most prominent sectors are manufacturing, tourism, agriculture, and financial services, each playing a vital role in the country’s economic landscape. Manufacturing in Tanzania encompasses a variety…

The economy of Tajikistan has historically been anchored in the agriculture and services sectors, which together form the backbone of the country’s economic activity. Agriculture remains a vital source of employment and income for a significant portion of the population, with cotton cultivation being particularly prominent due to the country’s favorable climatic conditions and Soviet-era…

During the early years of its independence, Syria’s economy was predominantly agrarian, with agriculture serving as the cornerstone of economic activity and employment. The country’s fertile lands, particularly in the Euphrates River valley and the western coastal regions, supported the cultivation of a variety of crops such as wheat, barley, cotton, and fruits, which not…

Switzerland’s economy is widely acknowledged as one of the most advanced in the world, distinguished by a highly-developed free market system that fosters innovation, efficiency, and economic stability. The Swiss economic model combines a strong tradition of private enterprise with a regulatory framework that encourages competition and entrepreneurship while maintaining social cohesion. This balanced approach…

The economy of Sweden is characterized by its highly developed and export-oriented nature, underpinned by abundant natural resources that have historically shaped its trade patterns and industrial development. Among these resources, timber, hydropower, and iron ore have played pivotal roles in establishing a robust resource base that supports Sweden’s foreign trade orientation. The extensive forests…

Suriname’s economy has historically been anchored in the extraction and exportation of bauxite, a mineral rich in aluminium oxide, which served as the foundation for its industrial activities. The country possessed significant bauxite reserves, and mining operations focused on extracting this resource to produce aluminium oxide, a key intermediate in aluminium manufacturing. Alongside aluminium oxide,…

The economy of Sudan has historically been anchored by agriculture and oil exports, complemented by contributions from the mining and manufacturing sectors. Agriculture has played a foundational role, employing approximately 80% of the country’s workforce and accounting for about one-third of the gross domestic product (GDP). This sector primarily consists of subsistence farming, which sustains…

The mixed economy of Sri Lanka was valued at LKR 29.89 trillion, which was approximately equivalent to US$99 billion by gross domestic product (GDP) in 2024. When measured by purchasing power parity (PPP), the valuation of Sri Lanka’s economy was significantly higher, reaching US$342.6 billion. This disparity between nominal GDP and PPP reflects the relatively…

The economy of Spain is classified as a highly developed social market economy, combining free-market capitalism with social policies that establish a comprehensive welfare state. It ranks as the world’s 12th largest economy by nominal gross domestic product (GDP) and holds the position of the sixth-largest economy within Europe. When excluding Russia, Spain becomes the…

South Sudan emerged as the world’s newest country and Africa’s 55th nation on 9 July 2011, following decades of conflict and a comprehensive peace agreement that ended the Second Sudanese Civil War. This historic event marked the culmination of a referendum held in January 2011, in which an overwhelming majority of South Sudanese voted for…

The economy of South Korea is characterized as a highly developed mixed economy, demonstrating a sophisticated integration of market mechanisms with government intervention. As of 2025, its nominal gross domestic product (GDP) was valued at approximately ₩2.61 quadrillion, equivalent to US$1.87 trillion, reflecting the substantial scale and complexity of its economic activities. This valuation underscores…

The economy of South Africa stands as the largest on the African continent, distinguished by its classification as a mixed economy, an emerging market, and an upper-middle-income economy. It is one of only eight countries in Africa to hold this status, reflecting a complex economic structure that integrates elements of both free-market capitalism and government…

Somalia is classified by the United Nations as a least developed country, reflecting its status among the world’s most economically challenged nations. The majority of its population relies heavily on agriculture and livestock for their livelihoods, with pastoralism and subsistence farming forming the backbone of economic activity. This reliance on traditional sectors underscores the limited…

The Solomon Islands has a per capita Gross Domestic Product (GDP) of approximately $3,200, a figure that places the country within the classification of a lesser developed nation. This relatively low per capita income reflects the economic challenges faced by the country, which include limited industrialization, a reliance on primary sectors, and infrastructural constraints. The…

Slovenia’s Gross National Income (GNI) per capita stands at $23,520, reflecting the average income earned by its residents and indicating a relatively high standard of living compared to many other countries. This figure encapsulates the total domestic and foreign income claimed by residents of Slovenia, providing a comprehensive measure of economic well-being. The country’s economy…

The economy of Slovakia underwent significant transformation following its accession to the European Union in 2004, a milestone that fundamentally reshaped the country’s economic landscape. Joining the EU facilitated greater integration into European markets, increased foreign investment, and access to structural funds aimed at modernizing infrastructure and industry. This integration was further deepened when Slovakia…