Last updated in January 2025.
Moderating but resilient growth
A1
LOW RISK for enterprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Form of state | Parliamentory Democracy | |
Head of government | Luis Montenegro (PM) | |
Next elections |
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Strengths & Weaknesses

- Improved competitiveness thanks to structural reforms (banking sector, pensions, labor market)
- Friendly business environment
- Good performance in some industrial and innovative sectors

- Still high public debt (among the highest in the world) despite fiscal consolidation efforts; minority government can still face fiscal challenges
- High private sector debt
- Still complex legal system and poor rail and technological infrastructure
Economic Overview
Trade Structure by destination/origin
(% of total, 2023)
Trade Structure by product
(% of total, annual 2023)
Collection Complexity
The Allianz Trade Collection Complexity Score provides a simple assessment of how easy it is to collect debt around the world. The 2022 edition covers 49 countries that represent nearly 90% of global GDP and 85% of global trade.
Contacts
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