International Markets Archive

Despite its improvements, Saudi Arabia’s economy still struggles—hindered by oil dependency, high youth unemployment, fiscal sustainability challenges and fluctuating oil revenues. However, its economic reform plans, particularly Vision 2030, have improved the quality of life for their citizens and residents by expanding opportunities for growth, fostering greater global integration and enhancing governmental efficiency.

As much as the European Union flounders under economic headwinds, Portugal’s economy reports strong growth, beating out previous forecasts. In 2024, Portugal’s economy expanded by 1.9%, beating out the expected growth by 0.1%, with forecasts predicting that the economy would grow by 2.1% in 2025.

Over the past few years, Saudi Arabia’s economy has struggled with a slowdown due to budget challenges and oil production cuts. In 2023, its economy contracted to 0.8% following extended oil production cuts among the OPEC+ member states, of which Saudi Arabia is a top member, which continues to weigh on GDP growth, Reuters reports.

Mexico’s economy continues to slump, as two back-to-back quarters of contraction bring the nation closer to a technical recession. With droughts stretching across the region and on-again, off-again tariffs from the United States, the nation is facing an uphill battle to revert course and avoid a recession.

Brazil’s economy has improved significantly in recent years. In 2024, the Gross Domestic Product (GDP) rose by 3.4%, achieving the strongest annual expansion since 2021. The GDP grew by 3.6% in the fourth quarter, coming in just below market expectations. 

After years of high inflation debt and trade deficits, Pakistan’s economy is on the road to recovery. This positive trajectory is fueled by improved macroeconomic management, inflation control measures and enhanced fiscal and external accounts stability of their government.

The Canadian economy showed growth over the fourth quarter, with increased consumer spending, business investments and exports boosting the country’s gross domestic product (GDP) by 2.6% in the final months of 2024. While the growth is a good sign for the Canadian economy, Prime Minister Justin Trudeau’s imminent resignation and the looming threat of tariffs from the United States create uncertainty.

South Africa’s economic outlook has improved since last year and set to continue to do so in 2025. Despite easing core inflation, the economy faces rising debt, political instability and a weakening currency. Nevertheless, better fiscal policies and a focus on domestic growth are expected to sustain economic growth.