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The economy of Namibia is characterized by a dual structure consisting of two primary sectors: a modern market sector and a traditional subsistence sector. The modern market sector serves as the main engine of economic growth and wealth generation within the country, encompassing industries such as mining, manufacturing, finance, and services. This sector is largely…

Myanmar’s economy is recognized as the seventh largest among the countries in Southeast Asia, reflecting its significant role within the regional economic landscape. This ranking takes into account various economic indicators, including gross domestic product (GDP), trade volumes, and industrial output, positioning Myanmar behind larger economies such as Indonesia, Thailand, and Vietnam but ahead of…

As of 2018, Mozambique’s economy registered a gross domestic product (GDP) of approximately $14.396 billion, reflecting a trajectory of development that gained momentum following the conclusion of the Mozambican Civil War. This protracted conflict, which spanned from 1977 to 1992, had severely disrupted economic activities and infrastructure, leaving the country in a state of economic…

The economy of Morocco functions as a market economy fundamentally governed by the principles of supply and demand. Since 1993, the country has embarked on a policy of privatisation, a strategic shift that aligned Morocco’s economic framework with broader global trends observed in many Western countries during that period. This transition aimed to reduce state…

The economy of Montenegro is classified as a transition economy, reflecting its ongoing efforts to stabilize, diversify, and expand its economic output following decades of political and economic transformation. This characterization stems from Montenegro’s shift away from a centrally planned system toward a market-oriented economy, a process that has involved extensive structural reforms aimed at…

The economy of Mongolia has historically been anchored in agriculture and livestock herding, which have long constituted the backbone of its economic activities. Pastoral nomadism and animal husbandry have shaped the livelihoods of the majority of the population, with livestock products such as meat, wool, and cashmere playing a central role in both subsistence and…

The economy of Monaco has long been anchored by its robust tourism and banking sectors, which together form the backbone of the principality’s financial stability and international reputation. Situated on the French Riviera along the Mediterranean Sea, Monaco benefits from a prime geographic location that has established it as a favored resort destination. This coastal…

The economy of Moldova is classified as an emerging upper-middle income economy, reflecting its ongoing development and gradual integration into the global market. This classification indicates that Moldova has achieved a level of economic performance characterized by moderate income per capita, improving infrastructure, and expanding industrial and service sectors, although it still faces challenges related…

The economy of Mexico is classified as a developing mixed-market economy, reflecting a blend of private enterprise and government intervention across various sectors. As of 2024, it ranks as the 13th largest economy globally when measured by both nominal gross domestic product (GDP) and purchasing power parity (PPP), underscoring its significant role in the international…

The economy of Mauritius is characterized as a mixed developing economy that integrates diverse sectors including agriculture, exports, financial services, and tourism. Historically, agriculture played a dominant role in the country’s economic structure, with sugar production serving as the backbone of the economy for many decades. However, the Mauritian economy has evolved significantly over time,…

The economy of Mauritania in 2006 remained predominantly anchored in the sectors of agriculture, mining, and livestock, which continued to serve as the backbone of the nation’s economic activities. This economic structure persisted despite significant demographic transformations that had unfolded over previous decades. Notably, recurring droughts during the 1970s and 1980s had profound social and…

The economy of Malta is distinguished by its highly industrialised and service-oriented nature, embodying a modern and diversified economic framework that has evolved significantly over recent decades. This transformation reflects a deliberate shift from traditional sectors towards more sophisticated industries, encompassing manufacturing, finance, information and communications technology (ICT), and tourism. The International Monetary Fund (IMF)…

The economy of Mali has historically been and continues to be predominantly based on agriculture, with the majority of the rural population engaged in subsistence farming. This agricultural reliance reflects the country’s demographic and geographic realities, where a significant portion of Mali’s inhabitants live in rural areas and depend on small-scale farming for their livelihoods….

The economy of Malaysia is characterized as an emerging and developing market that has attained upper-middle income status, underpinned by a highly industrialized and mixed economic structure. This diverse economy combines elements of free market capitalism with significant government intervention and planning, allowing for both private enterprise and state-owned enterprises to coexist and contribute to…

As of 2019, Malawi’s economy had a gross domestic product (GDP) valued at approximately $7.522 billion, a figure that reflects its classification as a low-income country within the global economic landscape. This relatively modest GDP underscores the challenges faced by Malawi in achieving substantial economic growth and development. The country’s economic structure is predominantly agrarian,…

As of 2020, Madagascar’s economy registered a gross domestic product (GDP) of approximately US$9.769 billion, reflecting its status as a market-oriented economy with a diverse yet predominantly agrarian base. Agriculture has historically formed the backbone of the Malagasy economy, providing livelihoods for a significant portion of the population and contributing substantially to national output. Alongside…

Luxembourg’s labour productivity has consistently ranked among the highest in Europe, a fact underscored by data published by the Organisation for Economic Co-operation and Development (OECD) in 2012. This elevated productivity level reflects the country’s efficient use of labor resources, advanced technological infrastructure, and a highly skilled workforce. The combination of these factors has enabled…

Lithuania possesses the largest economy among the three Baltic states, a distinction that underscores its significant role in the regional economic landscape. It is a member of several major international organizations, including the European Union (EU), the World Trade Organization (WTO), and the Organisation for Economic Co-operation and Development (OECD), reflecting its integration into the…

The economy of Liechtenstein is predominantly industrial, with manufacturing serving as the cornerstone of its economic activity. This industrial base is diverse and highly specialized, encompassing sectors such as precision instruments, electronics, machinery, and metal products. Despite the dominance of industry, a small but meaningful agricultural sector persists, contributing to the country’s economic fabric through…

Libya’s economy has historically been heavily dependent on the petroleum sector, which has served as the cornerstone of the nation’s economic structure. Oil and gas exports have consistently accounted for over 95% of Libya’s export earnings, underscoring the country’s reliance on hydrocarbon resources as its primary source of foreign exchange. This dominance of petroleum is…

The economy of Liberia has remained extremely underdeveloped, with a gross domestic product (GDP) estimated at only $3.222 billion as of 2019. This modest economic output can be largely attributed to the severe disruptions caused by the First Liberian Civil War, which lasted from 1989 to 1996, and the Second Liberian Civil War, spanning from…

The economy of Lesotho is characterized by a diverse array of sectors, with tourism, manufacturing, mining, and agriculture forming its primary economic activities. These sectors collectively contribute to the country’s gross domestic product and employment, although their relative importance has shifted over time. A significant aspect of Lesotho’s economic landscape is its dependence on remittances…

Since 2019, Lebanon’s economy has been engulfed in a profound and multifaceted crisis that has dramatically reshaped its financial landscape. This crisis is marked by a collapse of the banking sector, a severe liquidity shortage, and the sovereign default on its debt obligations. The banking collapse severely undermined public confidence in the financial system, leading…

The economy of Latvia is characterized by its openness and integration within the European framework, functioning as an open economy deeply embedded in the European Single Market. This integration facilitates the free movement of goods, services, capital, and labor between Latvia and other member states, enhancing trade opportunities and economic cooperation. Latvia’s strategic location in…

The economy of Laos is classified as a lower-middle income developing economy, reflecting its moderate levels of income and developmental status relative to other countries. This classification indicates that while the nation has made significant strides in economic growth and human development, it still faces challenges typical of developing economies, such as infrastructure deficits, limited…

The economy of Kyrgyzstan is characterized by a multifaceted structure encompassing trade, light manufacturing, mining, and agriculture, each contributing significantly to the country’s overall economic activities. Trade serves as a fundamental driver, facilitating the exchange of goods both within the region and internationally, while light manufacturing supports domestic consumption and export markets through the production…

Kuwait’s economy is predominantly driven by its petroleum sector, which forms the cornerstone of the nation’s economic structure. The country’s vast oil reserves have positioned it as one of the leading oil producers and exporters in the world, making the hydrocarbon industry the primary source of government revenue and foreign exchange earnings. This heavy reliance…

In 2010, the Republic of Kiribati recorded a per capita Gross National Product (GNP) of US$1,420, positioning it as the poorest nation within the Oceania region. This relatively low level of national income per person reflected the country’s limited economic diversification and the challenges it faced in generating sustainable domestic revenue streams. Historically, the economy…

The economy of Kenya operates predominantly within a market-based framework, characterized by a relatively limited presence of state-owned enterprises. This orientation towards a market-driven system reflects the country’s broader economic liberalization policies that have been implemented over several decades, aimed at fostering private sector growth and reducing direct government intervention in commercial activities. Despite the…

Kazakhstan’s economy stands as the largest in Central Asia, both in absolute terms and on a per capita basis, underscoring its substantial influence within the regional economic landscape. Since gaining independence following the dissolution of the Soviet Union in 1991, the country has attracted over US$370 billion in foreign investments by 2023, reflecting its growing…

The World Food Programme classifies the economy of Jordan as an upper-middle income economy, reflecting the nation’s moderate level of economic development relative to global standards. Despite this classification, Jordan faces significant structural challenges due to its scarcity of natural resources and limited agricultural land. The country’s terrain and climatic conditions restrict the availability of…

The economy of Japan is recognized as a highly developed mixed economy, often described as an East Asian model due to its unique combination of advanced industrial and service sectors alongside a significant degree of government intervention. This hybrid system integrates market-driven mechanisms with strategic state involvement, which has historically facilitated rapid industrialization and technological…

The economy of Jamaica is predominantly service-oriented, with the services sector accounting for approximately 71% of the country’s Gross Domestic Product (GDP). This significant contribution underscores the central role that services such as tourism, finance, retail, and communications play in the nation’s economic framework. The dominance of services reflects a structural shift from traditional agriculture…

The economy of Ivory Coast has demonstrated notable stability and growth in recent years, following a prolonged period marked by political instability and economic challenges that spanned several decades. This resurgence reflects a broader recovery from the setbacks experienced during the late twentieth century, when the country grappled with economic contraction and declining living standards….

The economy of Italy is classified as a highly developed social market economy, characterized by a blend of free-market capitalism alongside extensive social welfare programs and regulatory frameworks. This classification reflects Italy’s commitment to balancing economic efficiency with social equity, ensuring that market mechanisms operate within a context that promotes social protection and public services….