ITALY

With a population of 59 million and a forecasted GDP of $2,422bn in 2025,Italy is a large, open economy, underpinned by its high-income status, diversified industrial base, and a modestly positive net international investment position (~7.4% of GDP in 2024).

LUXEMBOURG

With a population of 0.680 million and a forecasted GDP of $96bn in 2025, Luxembourg is a very small but extremely open high‑income economy, underpinned by a powerhouse financial sector and large gross external asset position.

NETHERLANDS

With a population of 18 million and a forecasted GDP of $1,272bn in 2025, the Netherlands is a small yet highly open advanced economy, anchored by strong geographic hubs (port of Rotterdam), deep financial services and multinational operations.

SINGAPORE

With a population of 6 million and a forecasted GDP of $564bn in 2025, Singapore is a small, highly open advanced economy with exceptionally high per‑capita income (nominal GDP per capita roughly €80,800 in early 2025).

SOUTH KOREA

With a population of 51 million and a forecasted GDP of $1.790bn in 2025, South Korea is a dynamic open economy, distinguished by its high per‑capita income, advanced industrial diversification and substantial positive net international investment position.

SWEDEN

With a population of 10 million and a forecasted GDP of $620bn in 2025, Sweden is a small advanced open economy, with strong public finances, a resilient external position, and high income per capita.

SWITZERLAND

With a population of nearly 9 million and a forecasted GDP of $947bn in 2025, Switzerland is a small, highly open advanced economy, supported by strong diversification, high income per capita, and exceptional external strength.

TAIWAN

With a population of 23 million and a forecasted GDP of $804bn in 2025, Taiwan's economic system is characterised by a robust export-oriented model, prominently featuring advanced technology and a strong industrial base.

TURKEY

With a population of 87 million and a forecasted GDP of $1.437bn in 2025, Turkey ranks among the 20 largest economies in the world. It is a member of the OECD and the G20. The country has diversified trade relationships with Europe, the Middle East and Asia.

UNITED ARAB EMIRATES

With a population of 11 million and a forecasted GDP of $548bn in 2025, the United Arab Emirates is a small advanced open economy, underpinned by high per‑capita income (~ $49.5 k in 2025), substantial sovereign wealth, and a strong external surplus.