Economical overview Niger’s economy is based on exports of a few commodities as well as agriculture. The potential for economic development is hampered by political conflicts, the country’s isolated location, high transport costs, infertile...
Economical overview Nigeria has Africa’s largest population and is expected to have the continent’s second largest economy, after South Africa. The oil sector is a central component that generates large government revenue. But it...
Economical overview North Korea has yet to be one of the world’s most centrally controlled economies with an oversized heavy industry and inefficient agriculture. After economic disintegration and natural disasters in the 1990s, the...
Economical overview Norway is one of the richest countries in the world and has an extensive welfare system and generally high living standards among the population. The backbone of the economy is a lucrative...
Economical overview Since Sultan Qabus bin Said came to power in 1970, a development began in which Oman has gone from poor desert nation to modern industrial state and a regional financial and trade...
Economical overview Pakistan is South Asia’s second largest economy after India. Since the nation’s inception in 1947, the economy has mainly been based on three pillars: agriculture, textile industry and remittances (money that Pakistani...
Economical overview The service sector dominates Panama’s economy, which for a number of years has been one of the fastest growing in the world. The income comes mainly from the canal, the free trade...
Economical overview Poor Paraguay is intrusive between its wealthier neighbors Brazil and Argentina. The “black” economy is believed to be larger than the official, legal. Corruption and poor border control have made Paraguay a...
Economical overview Peru’s economy has long been strong, but poverty is widespread. Good export income from, among other things, large-scale mining and extensive fishing mainly benefits a smaller part of society. The population of...
Economical overview For a long time, agriculture, fishing and forestry were the backbone of the Philippines’ economy, but nowadays the service sector and manufacturing industry mean more to the economy as a whole. There...
Economical overview Poland has had good economic development during the last quarter century. Nowadays, the Poles’ standard of living has reached 65 percent of the EU average, compared with 25 percent in the transition...
Economical overview Portugal experienced stable economic growth from the EU accession in 1986 until a budget crisis emerged in the early 2000s. The global financial crisis of 2008 hit the country hard and the...
Economical overview Qatar has the world’s highest per capita income. Oil and natural gas form the basis of the strong Qatari economy and together account for half of the gross domestic product (GDP), half...
Economical overview Congo-Brazzaville is considered one of the more developed countries in Africa and the income per person is relatively high for African conditions thanks to the country’s oil resources. The weaknesses are the...
Economical overview Romania has good economic conditions in the form of its own energy resources, fertile land and many industries. Still, it is one of the poorest EU member states. The reason for this...
Economical overview Russia has enormous natural resources, a broad industrial base and a relatively well-educated population. The manufacturing industry and the service sector are growing, but dependence on raw material production is still high....
Economical overview Rwanda’s economy has traditionally been based on agriculture, mainly the export of tea and coffee. Nowadays, the service sector has passed agriculture in terms of the share of GDP. Growth is greatest...
Economical overview San Marino’s economy is mainly based on various services, such as tourism, banking and finance, as well as light manufacturing. Tourism accounts for about half of San Marino’s gross domestic product (GDP),...
Economical overview The economy of São Tomé and Príncipe is almost entirely based on cocoa cultivation for export as well as foreign aid. However, oil discoveries made offshore may turn the small country into...
Economical overview Saudi Arabia’s economy is centered around the oil. Up to 90 percent of export earnings come from the oil and gas industry, which also accounts for about half of the gross domestic...
Economical overview Senegal is a poor country whose population is mainly dependent on agriculture and fishing. At the same time, it has been more developed since the colonial era and has a more robust...
Economical overview In the mid-2010s, the Serbian economy showed a slight recovery after many years of crisis and problems. This does not mean that there are no major challenges to address: high unemployment (not...
Economical overview Seychelles is a rich country compared to many other African countries. As the only sub-Saharan country, Seychelles is placed in the “very high human development” category by the UN agency UNDP. The...
Economical overview Sierra Leone could be a fairly prosperous country, mainly thanks to large mineral resources, but from the beginning of the 1980s the economy was steadily deteriorated by corruption and neglect. The civil...
Economical overview Despite the lack of its own natural resources, Singapore has since independence in 1965 developed into an industrial nation and a leading financial center. Important reasons for this are the country’s geographical...
Economical overview Thanks to large foreign investment in industry, the Slovak economy has grown steadily since 1993, with the exception of the crisis year 2009. In 1989–2012, gross domestic product (GDP) increased by 168...
Economical overview Slovenia was long regarded as “best in class” by the former communist countries that joined the EU in 2004 and was the first of them to qualify to exchange currency for the...
Economical overview The chaos that has been going on in Somalia since the late 1980s makes it difficult to get an overview of the economic conditions in the country. Statistical data on gross domestic...
Economical overview Comprehensive mineral resources form the basis of South Africa’s economy. Platinum, gold, coal and diamonds have long supported exports. The income from the mining industry has enabled a large and growing industrial...
Economical overview Through extensive industrialization, high savings, large investments and export-based growth, South Korea has developed into one of the world’s leading economies. But in recent years, the economy has lost momentum, partly due...