Economy Archive

Turkey’s economy faced significant headwinds last year due to weakened demand, high interest rates, rising inflation and tighter government policies. Despite unstable market conditions in March, the country appears to be on the path to recovery, largely driven by private consumption.

Canada’s economy lags as increased trade strains and softening labor market test the economy, prompting more conversation around interest rates cut by the Bank of Canada. Canada’s gross domestic product (GDP) shrank by 0.1% in May, with expectations that it will bounce back in the following months despite continued strain from tariff stress. The biggest hit came from the retail trade sector, part of the larger service-producing industries that contribute up to 75% of total GDP, which contracted 1.2%, per Reuters. 

Argentina’s economy has shown signs of stabilization following a challenging year marked by severe poverty, soaring inflation and significant sociopolitical pressures. Today, the country stands as one of the largest economies in Latin America, with a gross domestic product (GDP) of approximately $640 billion, per the World Bank Group.

India’s economy faces major headwinds as U.S. President Donald Trump imposes penalty for buying Russian goods on top of a 25% tariff. The tariff took effect August 1, after the previous 26% tariff introduced in April was paused following negotiations.

The United Kingdom’s economy shrunk for the second month in May, with gross domestic product falling by 0.1%. While many economists expected the economy to grow in May, the country had a hard time navigating global economic instability.

Egypt entered January under intense balance-of-payment pressure, carrying the weight of mounting financial strains from the previous year. High inflation, tight credit conditions and a shift towards cutting back on spending threatened to constrain economic growth in 2025. At the mid-year mark, Egypt’s economy is gaining momentum, fueled by robust gross domestic product (GDP) growth, a surge in private investment and a thriving tourism sector.

The Mexican economy holds steady, but fluctuating currency value and mounting international pressure weigh on Latin America’s second largest economy.

At the start of the year, the Chilean economy faced rising inflation, external risks and political instability. Despite these challenges, there was hope for recovery, and by May, the economy had performed better than expected, supported by increased domestic demand.