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The economy of Costa Rica has demonstrated notable stability over recent years, marked by continuous growth in its Gross Domestic Product (GDP) alongside moderate inflation rates. This steady expansion reflects the country’s ability to maintain economic equilibrium despite various internal and external pressures. However, this stability coexisted with a relatively high unemployment rate, which stood…

The economy of Colombia ranks as the fourth largest in Latin America based on gross domestic product (GDP) and holds the position of the third-largest economy within South America. This standing reflects the country’s significant economic development relative to its regional peers. Throughout much of the 20th century, Colombia consistently maintained its status as Latin…

The People’s Republic of China operates a developing mixed socialist market economy that uniquely combines elements of state control with market-oriented reforms. Central to its economic framework are industrial policies and strategic five-year plans, which have historically guided the nation’s development trajectory. These plans articulate key priorities, allocate resources, and set targets for sectors ranging…

The economy of Chile operates as a market economy and is classified as a high-income economy by the World Bank, reflecting its advanced stage of economic development and substantial per capita income. This classification places Chile among the wealthier nations globally, highlighting its successful integration into international markets and its capacity to sustain economic growth…

Chad’s economy is profoundly influenced by its geographic position as a landlocked country, which imposes significant logistical and economic constraints. The absence of direct access to the sea complicates trade and increases transportation costs, thereby limiting the country’s ability to efficiently import and export goods. This geographic remoteness has historically hindered economic integration with regional…

The economy of Cape Verde is predominantly service-oriented, with commerce, trade, transport, and public services constituting the main pillars of economic activity. This emphasis on services reflects the country’s strategic position as a hub for maritime transport and its growing tourism sector, which collectively contribute significantly to the national income. The commercial sector thrives on…

The economy of Canada is classified as a highly developed mixed economy, distinguished by a blend of private enterprise and significant public sector involvement. This economic structure allows for a dynamic interplay between market-driven activities and government regulation or ownership, facilitating both innovation and social welfare. The coexistence of private businesses alongside publicly funded institutions…

For approximately twenty-five years following its independence, Cameroon’s economy was regarded as one of the most prosperous in Africa. This period of relative economic success was marked by steady growth and diversification, supported by a combination of natural resource wealth and agricultural productivity. The country’s economic structure during this era was heavily reliant on the…

Cambodia’s economy functions within an open market system, commonly referred to as a market economy, which has facilitated rapid economic growth over the past decade. This transition towards a more liberalized economic framework has allowed for increased private sector participation, foreign investment, and integration into global trade networks. By 2022, the country’s gross domestic product…

As of 2025, Burundi’s economy was valued at approximately $6.75 billion in gross domestic product (GDP), reflecting the overall size and scale of economic activity within the country. This valuation provides a snapshot of the economic output generated by all sectors, including agriculture, industry, and services, within Burundi’s borders during that year. Despite this total…

The economy of Burkina Faso has historically been anchored in subsistence farming and livestock raising, activities that constitute the primary means of livelihood for the majority of its population. This agricultural dependence reflects the country’s rural character and limited industrial development, with most households engaged in small-scale cultivation and animal husbandry to meet their daily…

The economy of Bulgaria functions on the principles of a free market system, where a substantial private sector predominates alongside a comparatively smaller public sector. This economic structure allows for private ownership and enterprise to drive most economic activities, while the government maintains a regulatory and supervisory role. Bulgaria is recognized by the World Bank…

The economy of Brunei is distinguished by its relatively small size yet considerable wealth, characterized by a multifaceted blend of economic components that include both foreign and domestic entrepreneurship, government regulation, welfare provisions, and enduring village traditions. This intricate economic fabric reflects the nation’s unique historical and cultural context, where modern commercial activities coexist alongside…

The economy of Brazil stands as the largest in Latin America and the Southern Hemisphere when measured in nominal terms, reflecting its significant role in regional and global economic landscapes. As of 2024, Brazil holds the position of the third-largest economy in the Americas by nominal gross domestic product (GDP), trailing only behind the United…

The economy of Botswana has been recognized as one of the fastest growing economies globally, sustaining an average annual growth rate of approximately 5% over the past decade. This remarkable performance reflects a combination of sound economic management, strategic utilization of natural resources, and consistent policy implementation. During the first three decades following Botswana’s independence…

The economy of Bosnia and Herzegovina is classified as a developing, upper-middle income economy, reflecting a moderate level of income and economic development relative to global standards. This classification indicates that while the country has made significant progress in improving living standards and expanding economic activities, it still faces challenges typical of developing economies, such…

The economy of Bolivia ranked as the 95th largest in the world when measured by nominal gross domestic product (GDP), while its position improved to 87th globally under the purchasing power parity (PPP) metric. This distinction reflects the difference in valuation methods, where nominal GDP accounts for market exchange rates and PPP adjusts for relative…

The economy of Bhutan is fundamentally anchored in agriculture and forestry, sectors that provide the primary means of livelihood for over 60% of the nation’s population. These activities form the backbone of rural life, where a majority of Bhutanese families engage in subsistence farming and animal husbandry to sustain themselves. Subsistence agriculture in Bhutan typically…

The economy of Benin has historically been characterized by its underdeveloped status and a heavy reliance on subsistence agriculture alongside cotton production, which together form the backbone of the country’s economic activity. Agriculture in Benin occupies a significant portion of the workforce and land use, with the majority of the rural population engaged in small-scale…

The economy of Belize is characterized by its small scale and predominance of private enterprise, reflecting the country’s status as a developing nation with a market-oriented economic structure. The economic activities in Belize are primarily concentrated in three main sectors: agriculture, tourism, and services, each playing a vital role in sustaining the country’s overall economic…

As of May 2025, the article on the economy of Belgium requires updating due to outdated statistics presented in the infobox, signaling the necessity for revision to incorporate recent economic data, developments, and newly available information. The dynamic nature of economic indicators such as GDP, public debt, trade balances, and social expenditure mandates periodic reassessment…

The trajectory of Belarus’s per capita Gross Domestic Product (GDP) from 1973 to 2018 reveals significant insights into the nation’s economic development over several decades. When adjusted for inflation to 2011 International dollars, these figures provide a consistent basis for comparing economic output across time, accounting for changes in price levels and purchasing power. This…

The Wikipedia article on the “Economy of Barbados” has been noted as requiring additional citations for verification, highlighting the need for more comprehensive sourcing from reputable news outlets, newspapers, scholarly books, academic experts, and databases such as JSTOR. This call for enhanced referencing was formally indicated as of May 2023, underscoring ongoing efforts to improve…

The economy of Bangladesh is classified as a major developing mixed economy, characterized by the coexistence and active participation of both private and public sectors. This dual-sector framework enables the country to harness the dynamism of private enterprise alongside strategic government intervention, fostering balanced economic growth and development. As a result, Bangladesh has emerged as…

The economy of Bahrain has historically been heavily dependent on its abundant oil and gas resources, which have formed the foundational backbone of the country’s economic activities since the discovery of oil in the early 20th century. The exploitation of these hydrocarbon reserves provided Bahrain with significant revenue streams, enabling rapid economic growth and modernization…

The economy of Azerbaijan has long been intricately linked to its vast oil and gas reserves, a relationship that became particularly pronounced following the completion of the Baku-Tbilisi-Ceyhan (BTC) Pipeline. This pipeline, which became operational in the mid-2000s, significantly augmented Azerbaijan’s capacity to export crude oil by providing a direct route from the Caspian Sea…

The economy of Austria is characterized as a highly developed social market economy, consistently ranking among the fourteen wealthiest countries worldwide in terms of gross domestic product (GDP) per capita. This classification reflects Austria’s combination of a free-market capitalist system with extensive social welfare programs, which together foster both economic efficiency and social equity. The…

Australia is classified as a highly developed country with a mixed economy that integrates both market-driven mechanisms and government intervention to regulate and guide economic activity. This hybrid system allows for a dynamic interplay between private enterprise and public policy, fostering economic growth while addressing social welfare and market failures. The government’s role encompasses regulation,…

The economy of Armenia experienced a notable expansion in 2024, with the International Monetary Fund estimating a growth rate of 5.9 percent. This growth propelled the country’s total economic output to approximately $25.5 billion, reflecting a continued recovery and development trajectory following previous years of volatility. The 2024 performance built upon a series of fluctuating…

Argentina possesses the second-largest economy in South America, surpassed only by Brazil, positioning it as a key economic player within the region. This status reflects a combination of its substantial natural resources, diversified industrial sectors, and a historically significant agricultural export base. The country’s economic stature is further underscored by its classification under the United…

The economy of Antigua and Barbuda is predominantly service-oriented, with tourism and government services constituting the principal sectors that drive employment and income generation. Tourism, in particular, plays a pivotal role, directly or indirectly contributing to more than half of the nation’s Gross Domestic Product (GDP). This sector serves as the primary source of foreign…

The trajectory of Angola’s per capita gross domestic product (GDP) from 1950 to 2018 reveals significant long-term economic fluctuations when adjusted for inflation to 2011 International dollars. This adjustment facilitates a more accurate comparison of real income levels over time by accounting for changes in price levels and currency values. Throughout the mid-20th century, Angola’s…