Top 10 Countries to Do Business In

The most important decision the business organization has to make is while choosing the business location. It requires good research and better planning. The countries with the best economies will suite good for any business entity to set up an establishment there. This process also includes a lot of other factors like demographics, supply chain, competition, budget, state laws and taxes, etc.

Here’s a look at the top 10 best countries to do business as by Forbes

1. New Zealand

Over the last two decades, New Zealand has been transformed into a more industrialized and a free market economy, from a pre-industrial economy which was more over dependent on the British market access. Now it has become more global. This dynamic growth has boosted real incomes, also has very much broadened and deepened the technological capabilities of the industrial sector.

GDP Growth: 1.4 percent
GDP/Capita: $39,300
Trade Balance: (-) 4.4 percent
Population: 4.3 M
Public Debt as percent of GDP: 36 percent
Unemployment: 6.5 percent
Inflation: 4 percent

2. Denmark

This is a complete modern market economy. This economy also features a high-tech agricultural sector, state-of-the-art industry with world-leading firms in pharmaceuticals, maritime shipping and renewable energy, and a high dependence on foreign trade.

Denmark is a member of the Danish legislation and the European Union (EU). Denmark is one amongst the efficient backbones for trade liberalization. And this country is good exporter of F&B services and products.

GDP Growth: 1.1 percent
GDP/Capital: $59,684
Trade Balance: 6.5 percent
Population: 5.5 M
Public Debt as percent of GDP: 44 percent
Unemployment: 6 percent
Inflation: 2.8 percent

3. Hong Kong

Hong Kong has been a free-market economy. This country is indeed highly indigent on world-wide trade and finance. The value of the goods and services is about four times the value of the GDP. A global economic deceleration has started from the year 2008 because of Hong Kong’s open and free-market economy.

GDP Growth: 5.0 percent
GDP/Capita: $34,457
Trade Balance: 3.9 percent
Population: 7.2 M
Public Debt as percent of GDP: 30 percent
Unemployment: 3.4 percent
Inflation: 5.3 percent

4. Singapore

Singapore has been a developed and a successful open economy. It has also been a free market economy. Singapore is a 99 percent corruption free. GDP of most of the developed countries is much lower than the stable prices and the per capita GDP of this country.  Singapore mainly depends on exports, especially in electronics, IT products and pharmaceuticals. The financial services sector is also booming up in Singapore.

GDP Growth: 4.9 percent
GDP/Capita: $46,241
Trade Balance: 23.8 percent
Population: 5.4 M
Public Debt as percent of GDP: 118 percent
Unemployment: 2.0 percent
Inflation: 2.0 percent

5. Canada

Canada is indeed a wealthy economy in many aspects. The country is also a high-tech industrial society in the billion-dollar class. In terms of market-oriented economic system, different modes of production, and upscale living standards, Canada does resemble the U.S.

Ever since the World War II, the economic growth has been very impressive, especially in fields of mining, manufacturing and the services sector. It has definitely changed the country from a heavily rural economy into a big time industrial and urban Hub.

GDP Growth: 2.5 percent
GDP/Capita: $50,345
Trade Balance: (-)2.8 percent
Population: 34.3 M
Public Debt as percent of GDP: 87 percent
Unemployment: 7.5 percent
Inflation: 2.9 percent

6. Ireland

Ireland is this small time yet modern economy which is completely dependents on its trade practices. Out of the whole 12 EU nations, Ireland was one among the initial countries, which began circulation on 1 January 2002. For the very first time over the previous two decades, Ireland had entered into the state of recession in 2008, with a consecutive disruption of its domestic property and also the construction markets. The property prices rose faster in Ireland than in any developed economy.

GDP Growth: 0.7 percent
GDP/Capita: $48,423
Trade Balance: 0.1 percent
Population: 4.7 M
Public Debt as percent of GDP: 105 percent
Unemployment: 14.4 percent
Inflation: 2.6 percent

7. Sweden

Sweden has indeed achieved a desirable standard of living, which working under a mixed system of high-tech industrialization and capitalism and also considerable welfare benefits. The country was aided by peace and neutrality for the whole of the 20th century.

The country has a well modern distribution channel and also a good internal and external communications system. Sweden has also been having a good and highly skilled labor force.

GDP Growth: 4.0 percent
GDP/Capita: $56,927
Trade Balance: 7.7 percent
Population: 9.1 M
Public Debt as percent of GDP: 38 percent
Unemployment: 7.5 percent
Inflation: 3.0 percent

8. Norway

Norway is a vibrant and successful mixed economy, having an active private sector, a large state sector and a boundless social subsidiary. The main areas such as the petroleum sector are controlled by the Norwegian government, through extended regulations and large-scale public owned organizations. Norway is the world's second-largest gas exporter; and seventh largest oil exporter. The country is abundantly blessed with natural resources.

GDP Growth: 1.7 percent
GDP/Capita: $ 98,102
Trade Balance: 14.5 percent
Population: 4.7 M
Public Debt as percent of GDP: 58 percent
Unemployment: 3.3 percent
Inflation: 1.3 percent

9. Finland

Finland has been a highly industrialized economy and also a highly big free-market economy. The country has a per capita GDP output roughly that of Austria, Belgium, the Netherlands, and Sweden. The Trade sector alone has been accounting of more than one third of the GDP over the past few years.

Finland has been known for the high-tech exports of mobile phones, especially Nokia. The country is very strong in the manufacturing field, like wood, metals, telecommunications and electronics. Amongst the EU nations, Finland has been one of the best performing economies.

GDP Growth: 2.9 percent
GDP/Capita: $49,391
Trade Balance: (-) 0.5 percent
Population: 5.3 M
Public Debt as percent of GDP: 49 percent
Unemployment: 7.8 percent
Inflation: 3.3 percent

10. The United Kingdom

The U.K. is the third largest country in Europe after Germany and France. The United Kingdom is a leader in trading and also excels in the financial center. Over the last 20 years, the U.K. government has to a far extent reduced public ownership and also has composed the growth of social welfare programs.

The country’s economy did enjoy the longest period of expansion on record, after coming out of the state of recession in 1992. During the same time, the growth outpaced most of the western side of Europe. But due to the economy’s importance of the financial sector, the 2008 recession crisis hit the economy really hard.

GDP Growth: 0.7 percent
GDP/Capita: $38,818
Trade Balance: (-) 1.9 percent
Population: 63 M
Public Debt as percent of GDP: 86 percent
Unemployment: 8.1 percent
Inflation: 4.5 percent