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The economy of Israel is characterized as a highly developed free-market system, distinguished by its advanced economic infrastructure and capabilities that support a diverse and dynamic range of industries. This sophisticated economic framework has enabled Israel to sustain a prosperous society, allowing it to maintain a comprehensive welfare state that underpins social services and promotes…

The economy of Iraq has been predominantly driven by the oil sector, which in 2024 accounted for approximately 89% of the country’s foreign exchange earnings. This overwhelming reliance on petroleum exports reflects the central role that oil has played in Iraq’s economic framework for decades. Historically, the oil sector has contributed an even more dominant…

As of April 2023, the Wikipedia section detailing the economy of Iran was identified as requiring an update, signaling that recent developments or newly available data might not yet be incorporated into the existing narrative. Iran’s economy is characterized as a mixed system with a centrally planned framework, wherein a substantial public sector plays a…

The economy of Indonesia is characterized by a mixed economic system with dirigiste, or state-directed, features, which combine elements of both free-market capitalism and significant government intervention. This hybrid structure has enabled Indonesia to emerge as one of the leading market economies globally, and it stands as the largest economy in Southeast Asia. The state’s…

The economy of India is classified as a developing mixed economy, distinguished by a substantial degree of public sector involvement, particularly in industries deemed strategic for national interests. This model blends elements of both private enterprise and government control, reflecting a deliberate balance between market-driven growth and state intervention. The Indian state has historically maintained…

The economy of Iceland is distinguished by its relatively small scale and pronounced volatility, with significant fluctuations observed in key economic indicators over time. This volatility is partly attributable to the country’s limited population base and its openness to international markets, which expose it to external shocks and cyclical changes. In 2011, Iceland’s gross domestic…

The economy of Hungary is classified as a developing, high-income mixed economy, reflecting a blend of private enterprise and government intervention. According to the International Monetary Fund (IMF), Hungary ranks as the 53rd-largest economy globally out of 188 countries, with an annual gross domestic product (GDP) output of approximately $265.037 billion. This positioning underscores Hungary’s…

The economy of Honduras has historically been predominantly based on agriculture, which in 2013 accounted for approximately 14% of the country’s gross domestic product (GDP). This agricultural foundation reflects the country’s reliance on the cultivation and export of various crops, with coffee standing out as the leading export commodity. In that year, coffee exports were…

Haiti’s economy operates as a free market system characterized by notably low labor costs, which have historically supported a range of economic sectors including agriculture and manufacturing. The availability of inexpensive labor has attracted certain industries seeking cost-effective production bases, allowing Haiti to participate in global supply chains despite its numerous challenges. Agriculture remains a…

Guyana’s economy has emerged as one of the fastest growing in the world, demonstrating a remarkable gross domestic product (GDP) growth rate of 19.9% in the year 2021. This extraordinary expansion significantly outpaced global averages and underscored the transformative changes occurring within the country’s economic landscape. The rapid growth in 2021 reflected both the impact…

The economy of Guinea is predominantly based on agriculture and other rural activities, which form the backbone of the country’s productive sectors. A significant proportion of the population engages in subsistence farming, livestock rearing, and fishing, reflecting the rural character of the economy. These activities not only provide livelihoods for the majority of Guineans but…

The economy of Guinea-Bissau is characterized by a mixed structure comprising both state-owned enterprises and private sector companies. This dual composition reflects the country’s post-colonial economic framework, where the government maintains control over certain strategic sectors while encouraging private enterprise to stimulate growth and employment. Despite efforts to diversify the economy, the public sector continues…

The economy of Guatemala is characterized as a developing economy with a pronounced reliance on agriculture, particularly traditional crops such as coffee, sugar, and bananas. These agricultural products have historically formed the backbone of the country’s export sector and have played a pivotal role in shaping its economic landscape. Despite this dependence on agriculture, Guatemala’s…

Nutmeg has long stood as one of Grenada’s most significant exports, underscoring its pivotal role in the nation’s trade economy. The spice not only contributes substantially to export revenues but also symbolizes Grenada’s agricultural heritage and international trade identity. Its prominence in the export sector reflects the country’s historical and ongoing cultivation of nutmeg trees,…

The economy of Greece is classified as an advanced, high-income economy, reflecting its developed infrastructure, diversified industrial base, and integration into global markets. It ranks as the 50th-largest economy in the world when measured by nominal gross domestic product (GDP), with an annual nominal GDP of $267.348 billion. This ranking situates Greece among the mid-sized…

The economy of Ghana is distinguished by a diverse and resource-rich composition, encompassing a broad range of sectors that contribute to its overall economic profile. Among these sectors, manufacturing plays a significant role, particularly in the production and export of digital technology goods, reflecting the country’s growing engagement with modern technological industries. Additionally, Ghana has…

The economy of Germany is distinguished by its highly developed social market system, which integrates the principles of free-market capitalism with comprehensive social policies designed to ensure both fair competition and social security. This model facilitates a dynamic economic environment where private enterprise operates within a framework of regulatory oversight and welfare provisions, thereby balancing…

The economy of Gabon has long been shaped by its strong economic ties with France, a relationship rooted in the colonial era and sustained through continued political, cultural, and financial linkages. France’s influence permeates various sectors of Gabon’s economy, including trade, investment, and infrastructure development, reflecting a legacy of dependency and cooperation that has persisted…

The economy of France is distinguished by its status as a highly developed social market economy, characterized by a significant degree of state participation, particularly in strategic sectors such as energy, transportation, and defense. This model combines a robust market-based economic framework with government intervention aimed at ensuring social welfare and economic stability. The French…

The economy of Finland is distinguished by its highly industrialized and mixed economic structure, featuring a per capita output that aligns closely with that of major Western European nations such as France, Germany, and the United Kingdom. This level of economic productivity reflects Finland’s advanced development and integration into the global economy. The service sector…

The economy of Fiji stands out as one of the most developed among the Pacific island nations, reflecting a relatively higher level of economic activity, infrastructure, and institutional capacity compared to its regional neighbors. This comparative advancement is evident in the country’s diversified economic base, which includes agriculture, tourism, manufacturing, and mining sectors, as well…

The economy of Ethiopia is characterized as a mixed and transition economy, featuring a significant public sector presence alongside growing private enterprise. Historically dominated by state-owned enterprises, the Ethiopian government has been actively engaged in a process of privatizing many of these entities, signaling a strategic shift toward a more market-oriented economic framework. This transition…

The economy of Eswatini is characterized by a relatively diversified structure, encompassing multiple sectors that contribute to the nation’s overall economic output. This diversification reflects a combination of traditional and modern industries, which together form the backbone of Eswatini’s economic activity. Agriculture, forestry, and mining collectively play a significant but not dominant role, accounting for…

The economy of Estonia is classified as advanced by the World Bank, reflecting a high quality of life and sophisticated infrastructure that distinguish it from less industrialized nations. This classification indicates a well-developed economic structure, supported by modern transportation networks, efficient public services, and widespread access to technology. Estonia’s infrastructure encompasses advanced telecommunications systems and…

Following the conclusion of the War of Independence, Eritrea’s economy underwent significant transformations that marked a period of substantial change and development. The war, which lasted from 1961 to 1991, had left the country’s infrastructure severely damaged and its economic base fragmented. In the immediate post-independence years, the government focused on rebuilding critical sectors such…

As of March 2025, the Wikipedia article on the Economy of Equatorial Guinea has been identified as requiring updates to reflect recent developments and newly available information. This recognition underscores the dynamic nature of the country’s economic landscape and the necessity for continual revision to ensure accuracy and comprehensiveness. The evolving economic conditions, policy changes,…

The economy of El Salvador has historically exhibited relatively low gross domestic product (GDP) growth rates when compared to other developing nations, with annual expansion rarely surpassing the low single digits over a span of nearly two decades. This modest growth trajectory reflected structural challenges within the Salvadoran economy, including limited diversification and vulnerability to…

The economy of Egypt is characterized as a developing, mixed economy that integrates elements of private enterprise with centralized economic planning and government regulation. This hybrid framework allows for both market-driven activities and state intervention, reflecting the country’s historical and contemporary efforts to balance growth with social equity and stability. By 2025, Egypt had emerged…

The economy of Ecuador holds a significant position within Latin America, ranking as the eighth largest in the region and standing as the 69th largest economy worldwide when measured by total gross domestic product (GDP). This ranking reflects Ecuador’s moderate scale in the global economic landscape, underscoring its role as a mid-sized emerging market with…

The economy of Dominica has traditionally been anchored in agriculture, with banana cultivation serving as the dominant crop and a cornerstone of the island’s economic activity. Bananas have historically played a crucial role in shaping the livelihoods of a significant portion of the population, with over one-third of the workforce engaged in banana farming either…

Djibouti’s economy is fundamentally shaped by its strategic geographic location along the Red Sea, a critical maritime corridor that serves as a vital link between the Mediterranean Sea via the Suez Canal and the Indian Ocean. This positioning has established Djibouti as an indispensable node for regional trade and transit activities, enabling it to capitalize…

Denmark possesses a modern, high-income, and highly developed mixed economy that is distinguished by a dominant service sector, which accounts for approximately 80% of all employment. This predominance of services reflects the country’s advanced stage of economic development and diversification away from traditional sectors. Manufacturing industries employ around 11% of the Danish workforce, indicating a…

The economy of Cyprus is classified as a high-income economy by the World Bank, reflecting its relatively high gross national income per capita compared to global standards. This classification underscores the island nation’s advanced level of economic development and the robustness of its economic institutions. Complementing this, the International Monetary Fund (IMF) recognized Cyprus as…

The Cuban economy is fundamentally characterized as a planned economy, with the majority of economic activities conducted through state-run enterprises. This centralized economic structure reflects the country’s socialist orientation, whereby the government controls production, distribution, and pricing mechanisms across virtually all sectors. The Communist Party of Cuba exerts extensive control over the economy, maintaining significant…

The economy of Croatia is classified as a developed mixed economy, characterized by a blend of private enterprise and public sector involvement. This dual structure allows for both market-driven activities and government regulation, fostering a balance between economic efficiency and social welfare. As one of the largest economies in Southeast Europe by nominal gross domestic…