List of African countries by GDP
To make this list there are taken up to 11 different metrics of 144 countries: property rights, taxes, technology, corruption, bureaucracy, freedom (monetary, trade and personal), investment protection, market efficiency and innovation.
As every year, Forbes magazine elaborates many lists on different topics. Perhaps the best known are The World’s Most Powerful People and The World’s Billionaires, headed this year by Vladimir Putin and Bill Gates, respectively.
In this post we want to make a brief tour of the best countries for doing business this year.
To make this list there are taken up to 11 different metrics of 144 countries: property rights, taxes, technology, corruption, bureaucracy, freedom (monetary, trade and personal), investment protection, market efficiency and innovation. All these metrics are extracted from the reports of organizations such as the World Economic Forum, Freedom House, Heritage Foundation, Property Rights Alliance, Transparency International and World Bank (To find out what’s click the link)
For the second consecutive year the Old Continent remains at the top, especially in Scandinavia. Europe accounts for two thirds of the top 25 countries for doing business.
Denmark (E.U) remains at the top of the list with a GDP of $ 341 billion and ranked #1 at Monetary Freedom Rank. Besides has a modern economy market and a high-tech agricultural sector.
Despite having a slow economic growth Europe is on the top of the list. Norway (#3, $500 billion GDP), Ireland (#4, $ 246 billion GDP) and Sweden (#5, $ 570 billion GDP) complete the top 5 of the best countries for doing business. The unique non-european country that slips into the podium is New Zealand.
Canada and Singapore are on the Top 10 of the magazine list, closely followed by Hong Kong Special Administrative Region of the People’s Republic of China, for its highly dependent on international trade and finance and its free market economy.
Meanwhile US back down position for the sixth consecutive year, from 18th to 22th position. This is due, among other factors, to the low score in monetary freedom and bureaucracy/red tape.
Africa has 6 countries above half of the list. Morocco stands out among African countries. Morocco has made a qualitative leap in the latest Forbes ranking of the best countries in the world for doing business. In 2014 ranking the Kingdom occupied the 79th place, today Morocco seats at 62nd position, only surpassed by Mauritius (#37) and South Africa (#47)