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The economy of Singapore is distinguished by its status as a highly developed mixed market economy that incorporates dirigiste characteristics, reflecting a unique blend of significant government intervention alongside the operation of free market mechanisms. This hybrid economic model allows the government to play an active role in strategic sectors and economic planning, while simultaneously…

As of the year 2025, the economy of Sierra Leone was valued at a gross domestic product (GDP) of approximately $8.39 billion. This figure reflects the total monetary value of all goods and services produced within the country’s borders over the course of the year. Since the end of the Sierra Leone Civil War in…

The economy of Seychelles is characterized by a diverse range of sectors that collectively contribute to its overall economic framework. Among the most significant are fishing and tourism, which serve as the backbone of the country’s economic activity. Fishing, particularly tuna fishing, has long been a vital industry due to Seychelles’ strategic location in the…

The economy of Serbia is classified as a developing upper-middle income economy, a designation that reflects its transitional status characterized by moderate to high income levels relative to global standards. This classification situates Serbia in a phase where economic structures are evolving from primarily agrarian or industrial bases toward more diversified and service-oriented activities, with…

The Central Bank of West African States, known by its French acronym BCEAO (Banque Centrale des États de l’Afrique de l’Ouest), is headquartered in Dakar, Senegal. This institution serves as the central monetary authority for the eight member countries of the West African Economic and Monetary Union (WAEMU), including Senegal. Its presence in Dakar underscores…

São Tomé and Príncipe’s economy has historically revolved around cocoa production, which has served as the cornerstone of its economic activity for decades. Cocoa cultivation dominated the agricultural sector and constituted the primary source of export earnings and employment for the population. This reliance on a single commodity shaped the country’s economic structure, making it…

The economy of Saudi Arabia has long been predominantly dependent on its petroleum sector, which constitutes a critical pillar of the nation’s financial structure. Oil contributes approximately 30% of the country’s Gross Domestic Product (GDP), highlighting its central role in economic output. Moreover, petroleum accounts for about 55% of government revenue, a figure that underscores…

The economy of San Marino is classified as a developed free-market system, distinguished by its reliance on a diverse range of industries that collectively sustain its economic vitality. Among these, tourism, banking, and manufacturing stand out as the principal sectors driving economic activity. Tourism plays a significant role due to San Marino’s historical heritage, picturesque…

The economy of Samoa is predominantly reliant on a combination of agricultural exports, development aid, and private financing originating from overseas sources. Agricultural exports form the backbone of the country’s external trade, while development aid from international donors and remittances from the Samoan diaspora provide critical financial inflows that support both public and private sector…

The economy of Saint Vincent and the Grenadines has traditionally been heavily dependent on agriculture, with the country recognized as the world’s leading producer of arrowroot. This particular crop has long held a prominent place in the agricultural sector, reflecting the nation’s specialization in niche products. In addition to arrowroot, Saint Vincent and the Grenadines…

Saint Lucia’s economic structure has undergone a significant transformation over the past several decades, evolving from a predominantly single-crop agricultural economy to one that is largely centered on tourism and financial services. Historically, the island’s economy was heavily reliant on agriculture, with bananas serving as the principal export commodity and the backbone of economic activity….

The economy of Saint Kitts and Nevis has traditionally been anchored in the cultivation and processing of sugar cane, a sector that once formed the backbone of the federation’s economic activity. For many decades, sugar production not only provided employment to a significant portion of the population but also generated substantial export revenues. However, in…

Rwanda’s economy has undergone rapid industrialisation in recent years, largely driven by a series of successful governmental policies aimed at fostering economic growth and diversification. These policies have focused on creating a conducive environment for investment, improving infrastructure, and promoting sectors beyond traditional agriculture, which historically dominated the country’s economic landscape. The government’s strategic emphasis…

The economy of Russia is characterized as an emerging and developing, high-income, industrialized, mixed market-oriented economy. This classification reflects the country’s transition from a centrally planned system to one that incorporates significant market mechanisms alongside substantial state involvement. Russia’s economic structure combines elements of private enterprise with government control, particularly in strategic sectors such as…

The economy of Romania is classified as a developing mixed economy characterized by a high degree of complexity, reflecting a diverse range of sectors that include agriculture, industry, and services. This mixed economic structure combines elements of market-based capitalism with significant state involvement in certain strategic industries, enabling Romania to adapt to both domestic and…

The economy of Qatar ranks among the highest globally in terms of GDP per capita, consistently placing within the top ten richest countries according to data compiled by major international organizations such as the World Bank, the United Nations, and the International Monetary Fund (IMF) during the years 2015 and 2016. This remarkable economic standing…

The economy of Portugal was ranked 36th in the World Competitiveness Ranking for 2024, as assessed by the Swiss institute IMD, reflecting the country’s relative position in global economic performance and competitiveness. This ranking takes into account various factors such as economic performance, government efficiency, business efficiency, and infrastructure, highlighting Portugal’s standing among other nations…

The economy of Poland is classified as an emerging and developing high-income industrialized mixed economy, reflecting a dynamic blend of market-oriented reforms and substantial public sector involvement. It ranks as the sixth-largest economy within the European Union when measured by nominal Gross Domestic Product (GDP) and holds the position of the fifth-largest economy based on…

The economy of Peru is classified by the World Bank as an emerging, mixed economy with an upper middle income status, reflecting a diverse structure that combines elements of market-driven enterprise with significant government participation in certain sectors. Characterized by a high level of foreign trade, Peru’s economic framework integrates extensive international commerce, which plays…

The economy of Paraguay operates as a market-oriented system, with a pronounced reliance on agricultural production and exports. Agriculture has historically formed the backbone of the Paraguayan economy, shaping its economic structure and labor market. Over the past decades, this sector has remained pivotal, providing employment to a significant portion of the population and contributing…

The economy of Papua New Guinea (PNG) remains largely underdeveloped, with a significant portion of its population living below the poverty line. Despite the country’s abundant natural resources and economic potential, widespread poverty persists, reflecting challenges in translating resource wealth into broad-based economic prosperity. According to projections by the Asian Development Bank, Papua New Guinea’s…

The economy of Panama is predominantly anchored in the tourism and services sector, which accounts for nearly 80% of the country’s Gross Domestic Product (GDP). This sector not only represents the largest share of economic activity but also serves as the primary generator of foreign income for Panama. The dominance of services reflects the country’s…

The economy of Palestine encompasses the full range of economic activities carried out within the Palestinian territories, including the West Bank and the Gaza Strip. These activities span various sectors such as agriculture, manufacturing, services, and trade, each contributing to the overall economic framework of the region. The Palestinian economy operates under complex political and…

The economy of Palau is predominantly anchored in three main sectors: tourism, fishing, and subsistence agriculture. Tourism serves as the cornerstone of economic activity, capitalizing on the nation’s pristine natural environment, vibrant marine biodiversity, and cultural heritage to attract visitors primarily from East Asia and the United States. Fishing constitutes another critical component, with both…

The economy of Pakistan is classified as a developing economy, reflecting its ongoing transition from a primarily agrarian base toward greater industrialization and service sector expansion. As of 2024, Pakistan ranks as the 26th-largest economy globally when measured by gross domestic product (GDP) using purchasing power parity (PPP), which accounts for relative cost of living…

The economy of Oman has been predominantly centered around its oil sector, which serves as the primary engine driving national income and development. Alongside petroleum, traditional economic activities such as fishing and trading have historically been concentrated in the Sultanate’s extensive coastal regions, where access to the Arabian Sea and the Gulf of Oman facilitated…

The economy of Norway is characterized by a highly developed mixed economic system that integrates extensive state ownership alongside a vibrant private sector. This hybrid model allows the government to maintain control over key strategic industries, including energy, telecommunications, and transportation, while simultaneously fostering a competitive market environment. State-owned enterprises play a crucial role in…

Since gaining independence from the Socialist Federal Republic of Yugoslavia in 1991, North Macedonia underwent a significant transformation in its economic structure, moving toward a more liberalized market economy with a progressively improved business environment. This transition was marked by the loss of access to key protected markets and the cessation of substantial transfer payments…

The economy of North Korea operates under a centrally planned system fundamentally shaped by the state ideology of Juche, which emphasizes self-reliance and independence. While market allocation mechanisms have historically played a minimal role in the country’s economic organization, their influence has incrementally increased in recent years, particularly as of 2024. This limited incorporation of…

The economy of Nigeria is classified as a middle-income, mixed economy and emerging market, distinguished by a diverse array of expanding sectors. Key industries such as manufacturing, financial services, communications, technology, and entertainment have experienced significant growth, contributing to the country’s evolving economic landscape. This diversification reflects Nigeria’s efforts to reduce dependence on traditional sectors…

In 2023, Niger’s gross domestic product (GDP) was recorded at approximately $16.617 billion US dollars, according to official data provided by the World Bank. This figure reflects the overall economic output of the country and serves as a key indicator of its economic size and performance. Niger’s economy is predominantly driven by internal markets and…

The economy of Nicaragua has long been predominantly centered on the agricultural sector, which serves as the foundation of the country’s economic activities. Agriculture not only provides employment for a significant portion of the population but also contributes substantially to export revenues and rural livelihoods. Key agricultural products include coffee, bananas, sugar, beef, and seafood,…

New Zealand’s economy is characterized as a highly developed free-market economy, reflecting a system in which private enterprise operates with minimal government intervention and where market forces largely determine production, distribution, and pricing of goods and services. This economic framework has allowed New Zealand to cultivate a dynamic and adaptable economic environment, fostering innovation and…

The economy of Nepal is classified as developing and remains predominantly reliant on agriculture and remittances from foreign workers. Agriculture serves as the principal economic activity, employing approximately 65% of the population and contributing 31.7% to the nation’s gross domestic product (GDP). This sector is characterized by a diverse range of crops, including staple grains…

The economy of Nauru is notably small, reflecting the island nation’s limited population, which stood at approximately 11,550 people as of 2019. This modest population size inherently constrains the scale of economic activities and domestic markets, resulting in an economy that is both narrow in scope and heavily reliant on external factors. Historically, the cornerstone…