A level Economics · application

Country factfiles.

18 economies, each with its structure, industries, problems, inequality and the role of the state, plus an application bank of exam-style questions. Top answers use a real country to back up a chain of reasoning and to show that the outcome depends on context. Open any country from the list below, or choose a topic to see which countries illustrate it best and why.

How the categories are set: World Bank income group (GNI per head), the IMF's split between advanced and emerging/developing economies, and development indicators such as HDI and the share of informal work. Borderline cases are explained on each factfile: India and Vietnam are lower-middle income but grouped as emerging for their fast structural change and integration into world trade; Botswana is upper-middle income but its economy rests on one export.

Choose by topic

Which country should I use?

Pick a topic. The countries are ranked with the strongest example first, and each line says what that country shows. Use two contrasting examples in an evaluation paragraph.

Developed 9

High income, mature industry and services, strong institutions. Use for macro policy, debt, ageing, productivity and trade blocs.

DevelopedWestern Europe · High income

United Kingdom

A services-led, consumption-driven economy wrestling with weak productivity, high debt and post-Brexit trade friction.

~80%Services share of output (2023)
−2.8%Current account balance % GDP (Q2 2026)
93.8%Public sector net debt % GDP (Aug 2026)
Top example for
InflationUnemploymentBalance of paymentsInvestmentProductivityFiscal policyMonetary policySupply-side policyInternational competitivenessTrade blocs & EU

Also a useful example for 8 more topics.

Pair with Germany, United States, Greece

Open factfile → Worksheet PDF ↓
DevelopedWestern Europe · High income

Germany

Europe's export powerhouse, stalled by an energy shock, Chinese competition and tight fiscal rules.

~40%Exports % of GDP (2025)
+4.5%Current account surplus % of GDP (2025)
0.2%Real GDP growth (2025)
Top example for
Environment & externalitiesBalance of paymentsFiscal policySupply-side policyInternational competitiveness

Also a useful example for 13 more topics.

Pair with China, United States, Greece

Open factfile → Worksheet PDF ↓
DevelopedSouthern Europe · High income

Greece

The eurozone's deepest debt crisis: three bailouts, austerity and a quarter of output lost, now recovering.

146%Gross public debt % GDP (2025)
~25%Fall in real GDP 2008–13
27.5%Peak unemployment rate (2013)
Top example for
DeflationUnemploymentFiscal policyPublic debtFinancial crisesTrade blocs & EU

Also a useful example for 6 more topics.

Pair with Ireland, Japan, Argentina

Open factfile → Worksheet PDF ↓
DevelopedWestern Europe · High income

Ireland

A small eurozone economy powered by US multinationals, where GDP badly overstates living standards.

55%GNI* as a share of GDP (2025)
46%Corporation tax paid by top 3 firms (2024)
8.0%Real GDP growth (2025)
Top example for
Measuring GDP & living standardsFinancial crisesTrade blocs & EUFDI

Also a useful example for 5 more topics.

Pair with Greece, Singapore, United Kingdom

Open factfile → Worksheet PDF ↓
DevelopedEast Asia · High income

Japan

Ageing, deflation and the highest public debt in the rich world, now facing the return of inflation and rising interest rates.

~230%Gross public debt % GDP (2025)
1.14Total fertility rate (2025)
3.2%CPI inflation, after decades of deflation (2025)
Top example for
DeflationProductivityAgeing populationMonetary policyPublic debt

Also a useful example for 10 more topics.

Pair with China, Greece, South Korea, Germany

Open factfile → Worksheet PDF ↓
DevelopedNorthern Europe · High income

Norway

Oil wealth saved in the world's largest sovereign wealth fund, with Nordic welfare and very low inequality.

NOK 22.7 trnGovernment Pension Fund Global (June 2026)
57%Oil & gas share of goods exports (2025)
~0.27Gini coefficient (2023)
Top example for
Mixed economy & the stateEnvironment & externalitiesMeasuring GDP & living standardsInequalityResource curse

Also a useful example for 4 more topics.

Pair with Nigeria, Botswana, United Kingdom

Open factfile → Worksheet PDF ↓
DevelopedSoutheast Asia · High income

Singapore

A resource-free city-state that grew rich through openness, FDI and a strategic state, with monetary policy run through the exchange rate.

~320%Trade as % of GDP (2025)
~31%Household consumption % of GDP (2025)
0.379Gini after taxes and transfers (2025)
Top example for
Mixed economy & the stateConsumption & savingGlobalisationFDI

Also a useful example for 7 more topics.

Pair with Ireland, South Korea, Norway, United Kingdom

Open factfile → Worksheet PDF ↓
DevelopedEast Asia · High income

South Korea

From one of the world's poorest countries to a chip superpower, now facing the world's lowest birth rate.

0.80Total fertility rate, world's lowest (2025)
4.9%R&D spending % of GDP (2023)
$123 bnRecord current account surplus (2025)
Top example for
Economic growthProductivityAgeing populationDemographic dividendSupply-side policyIndustrial policyFinancial crisesComparative advantage & specialisationExport-led growthDevelopment strategies

Also a useful example for 3 more topics.

Pair with Japan, Singapore, China, Vietnam

Open factfile → Worksheet PDF ↓
DevelopedNorth America · High income

United States

Consumption-led giant with the world's reserve currency, big twin deficits and high inequality.

~68%Household consumption % of GDP (2024)
−3.6%Current account balance % of GDP (2025)
56.7%Dollar share of world FX reserves (Q2 2026)
Top example for
InflationBalance of paymentsConsumption & savingMonetary policyIndustrial policyPublic debtProtectionismInequality

Also a useful example for 10 more topics.

Pair with China, United Kingdom, Germany

Open factfile → Worksheet PDF ↓

Emerging 5

Fast-changing middle-income economies integrating into world trade. Use for growth strategies, structural change and rising inequality.

EmergingLatin America · Upper-middle income

Argentina

A century of boom and bust: hyperinflation, nine defaults, IMF rescues and Milei's shock therapy.

211%Annual inflation (2023), down to 31.5% in 2025
9Sovereign debt defaults since 1827 (latest 2020)
32.3%Poverty rate (H1 2026), from 52.9% in H1 2024
Top example for
InflationHyperinflation & very high inflationInvestmentExchange ratesPrimary product dependency

Also a useful example for 11 more topics.

Pair with Greece, Botswana, Norway, Nigeria, China

Open factfile → Worksheet PDF ↓
EmergingSouthern Africa · Upper-middle income

Botswana

From one of the world's poorest countries to upper-middle income on diamonds, now tested by a diamond slump.

~75%Diamonds' share of export earnings (recent years)
~0.53Gini coefficient (2015/16)
27.6%Unemployment rate (Q1 2024)
Top example for
UnemploymentInequalityPrimary product dependencyResource curse

Also a useful example for 4 more topics.

Pair with Nigeria, Norway, Argentina, China, Kenya

Open factfile → Worksheet PDF ↓
EmergingEast Asia · Upper-middle income

China

The world's factory: investment- and export-led growth now slowing, with weak consumption, deflation and a shrinking population.

~40%Household consumption % of GDP
$1.19 trnGoods trade surplus (2025)
0.0%CPI inflation (2025)
Top example for
Mixed economy & the stateEnvironment & externalitiesEconomic growthDeflationConsumption & savingInvestmentAgeing populationIndustrial policyInternational competitivenessGlobalisationComparative advantage & specialisationProtectionismExport-led growthPovertyDevelopment strategies

Also a useful example for 7 more topics.

Pair with Japan, India, Vietnam, Germany, United States

Open factfile → Worksheet PDF ↓
EmergingSouth Asia · Lower-middle income

India

The fastest-growing large economy, led by services and consumption, with 43% of workers still on farms.

7.7%Real GDP growth (2025-26)
43%Share of workers in agriculture (2025)
~$2,700GNI per head (2024)
Top example for
Informal economyDemographic dividendPovertyMicrofinance & financial inclusion

Also a useful example for 14 more topics.

Pair with China, Bangladesh, Vietnam

Open factfile → Worksheet PDF ↓
EmergingSoutheast Asia · Lower-middle income

Vietnam

FDI-fuelled export factory and the biggest winner from 'China plus one'.

8.0%Real GDP growth (2025)
~92%Goods exports as % of GDP (2025)
$27.6 bnFDI disbursed, a record (2025)
Top example for
Economic growthHyperinflation & very high inflationDemographic dividendGlobalisationProtectionismExport-led growthFDIPoverty

Also a useful example for 8 more topics.

Pair with China, South Korea, Bangladesh

Open factfile → Worksheet PDF ↓

Developing 4

Low or lower-middle income, large informal sectors and farm employment. Use for poverty, primary dependency, aid, debt and financial inclusion.

DevelopingSouth Asia · Lower-middle income

Bangladesh

Garment exports, migrant remittances and microfinance, facing LDC graduation in November 2026.

~81%Garments' share of exports (2024-25)
$30.3 bnRemittances, a record (2024-25)
21.4%Poverty rate, World Bank estimate (2025)
Top example for
Comparative advantage & specialisationMicrofinance & financial inclusionAid & debt relief

Also a useful example for 7 more topics.

Pair with Vietnam, India, Ethiopia

Open factfile → Worksheet PDF ↓
DevelopingEast Africa · Low income

Ethiopia

State-led investment delivered a decade of near-10% growth, then debt default and a forced turn to markets.

~10%Average official growth 2004–2019
Dec 2023Default on $1 bn Eurobond
57 → 164Birr per US dollar, Jul 2024 → Oct 2026
Top example for
Measuring GDP & living standardsExchange ratesDevelopment strategiesAid & debt relief

Also a useful example for 13 more topics.

Pair with China, Kenya, Bangladesh

Open factfile → Worksheet PDF ↓
DevelopingEast Africa · Lower-middle income

Kenya

Mobile money pioneer and East Africa's hub, squeezed by debt and a tax revolt.

84.8%Formal financial inclusion (2024)
~69%Public debt % of GDP (2026)
$5.0 bnDiaspora remittances (2025)
Top example for
Informal economyMicrofinance & financial inclusion

Also a useful example for 8 more topics.

Pair with Nigeria, Ethiopia, Bangladesh

Open factfile → Worksheet PDF ↓
DevelopingWest Africa · Lower-middle income

Nigeria

Oil earns the dollars, yet poverty is rising: the resource curse, devaluation and subsidy reform in one country.

~83%Oil and gas share of goods exports (Q4 2025)
63%Below national poverty line (2025, World Bank)
34.8%Peak CPI inflation (Dec 2024)
Top example for
Informal economyExchange ratesPrimary product dependencyResource curseAid & debt relief

Also a useful example for 8 more topics.

Pair with Botswana, Norway, Kenya

Open factfile → Worksheet PDF ↓
Topic index

Every topic at a glance

Spec references are Edexcel 9EC0; the same topics appear in AQA 7136 and OCR H460. Select a topic to see the reasons.

Theme 1 · How markets work

1.1.6China Norway Singapore Vietnam United States Germany United Kingdom Ethiopia Argentina
1.3China Norway Germany United States India Bangladesh Nigeria Ethiopia

Theme 2 · The UK and global macroeconomy

2.1.1China South Korea Vietnam Ethiopia India Nigeria Germany United Kingdom Japan
2.1.1Ireland Norway Ethiopia Nigeria Singapore Botswana United States Kenya
2.1.2United Kingdom Argentina United States Nigeria Germany Japan Ethiopia India
2.1.2Japan China Greece
2.1.2Argentina Vietnam
2.1.3Greece United Kingdom Botswana United States Germany China India Ireland
2.1.3Nigeria India Kenya Argentina Vietnam Greece
2.1.4United Kingdom United States Germany China Japan Norway India Kenya
2.2.2United States China Singapore Germany United Kingdom Japan South Korea Argentina
2.2.3China Argentina United Kingdom Germany South Korea Vietnam Ethiopia United States
2.3United Kingdom Japan South Korea United States Germany Vietnam India
2.3Japan South Korea China Germany Singapore Greece Vietnam
2.3India South Korea Vietnam Bangladesh Nigeria Ethiopia Kenya
2.6.2United Kingdom Germany Greece United States Japan Singapore Argentina Kenya
2.6.2United Kingdom United States Japan Singapore Ireland Nigeria India China
2.6.3United Kingdom Germany South Korea Japan Greece Argentina India
2.6.3South Korea China United States India Japan Singapore Ethiopia Argentina

Theme 4 · A global perspective

4.5.3Japan Greece United States United Kingdom Argentina Ethiopia Kenya Nigeria Germany
4.4.2Greece Ireland South Korea United States Japan Argentina United Kingdom China
4.1.8Argentina Nigeria Ethiopia Singapore Japan China Greece United States United Kingdom
4.1.9Germany China United Kingdom Greece Ireland Vietnam Bangladesh Norway
4.1.1China Singapore Vietnam Ireland United States Germany Bangladesh
4.1.2Bangladesh South Korea China Germany United Kingdom India Botswana
4.1.5United Kingdom Ireland Greece Norway Germany Vietnam Kenya
4.1.6United States China Vietnam India Argentina Bangladesh Ethiopia
4.3.3South Korea China Vietnam Singapore Germany Bangladesh Ethiopia
4.3.3Ireland Vietnam Singapore China Ethiopia India Botswana
4.2.1China India Vietnam Nigeria Bangladesh Ethiopia Argentina Japan
4.2.2United States Norway Botswana China Ireland United Kingdom India
4.3.3South Korea Ethiopia China Vietnam India Botswana Argentina
4.3.2Nigeria Botswana Argentina Kenya Ethiopia Norway
4.3.2Nigeria Botswana Norway
4.3.3Bangladesh Kenya India
4.3.3Ethiopia Nigeria Bangladesh Kenya South Korea Greece

Printable worksheets: every country also has a double-sided A4 worksheet (knowledge on the front, practice on the back) with a separate answer key.

Data: figures were checked in October 2026 against official statistics offices, central banks, the IMF and the World Bank. Figures marked "~" are approximate and vary by source. Each factfile lists its sources.