Category: World Economy

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…

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…