Week in Review Archive

Located in Southeast Asia, Indonesia spans the waters between the Indian and Pacific Oceans. This archipelagic nation, known for its abundant natural resources and rich biodiversity, ranks as the world’s 17th-largest economy. Even in the face of global economic uncertainty, the country has maintained its strength in business and international commerce.

Canada’s trade balance deteriorated in October, according to the Wall Street Journal, marking the country’s eighth deficit in the first 10 months of the year as the nation works to improve domestic investment and lessen the country’s reliance on trade with the United States.

Over the past few years, Colombia has endured mounting economic challenges. The country’s significant public debt and widened deficit, persistent inflation and weakened currency, have contributed to fiscal instability. Additionally, weak investment and high informal unemployment have hindered Colombia’s economic growth.

Chile elected conservative José Antonio Kast as president on Dec. 15, as voter priorities shift from inequity and improved pensions to addressing crime, immigration and strengthening a sluggish economy.

In south-central Asia stands the mountainous country of Afghanistan, known for its rugged terrain, rich cultural heritage and historic trade routes. The largely traditional and agriculture-based economy is dependent on farming, livestock and small trade. Although the region has significant natural resources, economic activity remains informal and rural, with limited industrial development.

As Saudi Arabia approves its state budget for 2026, the country anticipates a narrowing fiscal deficit as they prioritize industrial and logistics sectors in an effort to increase non-oil-based revenue. The country is projecting a deficit of 165 billion riyals ($44 billion), about 3.3% of gross domestic product (GDP).

Following a year of stagnation, Italy’s economy still struggles, narrowly avoiding recession in the third quarter. The eurozone’s third-largest economy saw its gross domestic product (GDP) remain unchanged compared with the previous quarter, while expanding by 0.4% year over year, according to Trading Economics. In the three months leading up to September, Italy posted a 0.1% contraction from the second quarter, contradicting expectations of a 0.1% rebound.

India’s domestic economy shows strength with a smaller hit to exports than expected amid international trade tensions. With a positive economic outlook, India will have more room to negotiate a trade deal with the United States after the latter imposed tariffs as high as 50% on exports from India.