MERI rankings
The positioning matrix is the decision view: market readiness on one axis, growth opportunity on the other, downside risk as colour. The enriched table below exposes pillar shape, trajectory, flags and data confidence per country.
147 of 158 countries combine different best-coverage years across Readiness, Opportunity and Risk. The three axes may be as of different years — select a country to see its per-axis vintages.
| Country | Quadrant | Pillar shape | |||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | Switzerland | 89.1 Tier 1 | 39.5 | Mature / Stable | Stable | 84.9 | sanctionssanctions | C 67U — | |
| 2 | Denmark | 87.3 Tier 1 | 39.9 | Mature / Stable | Stable | 91.1 | sanctions | C 67U — | |
| 3 | Norway | 87.1 Tier 1 | 38.6 | Mature / Stable | 85.5 | sanctionssanctions | C 67U — | ||
| 4 | United Kingdom | 84.3 Tier 1 | 39.0 | Mature / Stable | Improving | 84.5 | sanctionssanctions | C 83U — | |
| 5 | Japan | 83.9 Tier 1 | 26.1 | Mature / Stable | Stable | 79.1 | sanctionssanctions | C 67U — | |
| 6 | New Zealand | 82.7 Tier 1 | 33.8 | Mature / Stable | 85.6 | sanctions | C 83U — | ||
| 7 | Singapore | 82.4 Tier 1 | 58.9 | Priority | Stable | 88.6 | sanctionssanctions | C 83U — | |
| 8 | Estonia | 82.3 Tier 1 | 24.6 | Mature / Stable | Stable | 76.5 | sanctionssanctions | C 83U — | |
| 9 | Australia | 82.1 Tier 1 | 46.3 | Mature / Stable | Stable | 85.5 | sanctionssanctions | C 67U — | |
| 10 | Austria | 81.5 Tier 1–2 | 22.5 | Mature / Stable | Stable | 85.0 | sanctions | C 67U — | |
| 11 | United States | 81.1 Tier 1 | 47.3 | Mature / Stable | Stable | 84.5 | sanctions | C 83U — | |
| 12 | Hong Kong, China | 80.9 Tier 1–2 | 42.6 | Mature / Stable | Stable2y | 86.3 | sanctionssanctions | C 75U — | |
| 13 | Canada | 80.4 Tier 1–2 | 43.2 | Mature / Stable | 92.7 | sanctionssanctions | C 83U — | ||
| 14 | France | 80.3 Tier 1–2 | 25.8 | Mature / Stable | Stable | 81.3 | active conflictsanctionssanctions | C 67U — | |
| 15 | Iceland | 79.2 Tier 1–2 | 40.2 | Mature / Stable | 75.6 | sanctions | C 83U — | ||
| 16 | Belgium | 79.1 Tier 2 | 30.1 | Mature / Stable | 80.3 | sanctionssanctions | C 83U — | ||
| 17 | Luxembourg | 79.0 Tier 1–2 | 30.8 | Mature / Stable | Stable | 87.7 | sanctions | C 67U — | |
| 18 | Spain | 79.0 Tier 2 | 37.8 | Mature / Stable | Stable | 77.5 | sanctions | C 83U — | |
| 19 | South Korea | 78.8 Tier 2 | 33.9 | Mature / Stable | Stable | 86.0 | sanctions | C 83U — | |
| 20 | Czech Republic | 78.5 Tier 2 | 31.3 | Mature / Stable | Stable | 82.0 | sanctionssanctions | C 83U — | |
| 21 | Lithuania | 78.5 Tier 1–2 | 30.4 | Mature / Stable | Stable | 74.3 | sanctionssanctions | C 67U — | |
| 22 | Slovakia | 76.8 Tier 2 | 28.3 | Mature / Stable | Stable | 73.2 | sanctions | C 83U — | |
| 23 | Germany | 76.7 Tier 2 | 26.0 | Mature / Stable | Improving | 86.1 | sanctionssanctions | C 67U — | |
| 24 | Finland | 76.6 Tier 2 | 26.0 | Mature / Stable | Stable | 85.0 | sanctionssanctions | C 67U — | |
| 25 | Netherlands | 76.0 Tier 2 | 32.5 | Mature / Stable | Improving | 86.1 | sanctionssanctions | C 67U — | |
| 26 | Cyprus | 75.6 Tier 2 | 36.5 | Mature / Stable | Stable2y | 76.4 | sanctionssanctions | C 75U — | |
| 27 | Georgia | 75.3 Tier 2 | 59.9 | Priority | Stable | 63.9 | sanctionssanctions | C 83U — | |
| 28 | Slovenia | 74.2 Tier 2 | 51.0 | Priority | 80.6 | sanctionssanctions | C 83U — | ||
| 29 | Brunei | 73.7 Tier 2 low confidence | 28.3 | Mature / Stable | n/a | 79.7 | — | C 58U — | |
| 30 | Israel | 73.5 Tier 2 | 42.1 | Mature / Stable | 79.6 | active conflictsanctionssanctions | C 83U — | ||
| 31 | Greece | 73.3 Tier 2 | 39.3 | Mature / Stable | Stable | 70.1 | sanctions | C 83U — | |
| 32 | Portugal | 73.2 Tier 2 | 37.5 | Mature / Stable | Improving | 77.3 | sanctions | C 83U — | |
| 33 | Chile | 73.1 Tier 2 | 37.2 | Mature / Stable | 73.6 | sanctions | C 67U — | ||
| 34 | Hungary | 72.9 Tier 2 | 26.1 | Mature / Stable | Stable | 65.8 | sanctionssanctions | C 83U — | |
| 35 | Moldova | 72.7 Tier 2 | 35.4 | Mature / Stable | Stable | 55.8 | sanctionssanctions | C 83U — | |
| 36 | Croatia | 72.2 Tier 2 | 46.8 | Mature / Stable | Stable | 72.7 | sanctionssanctions | C 83U — | |
| 37 | Poland | 71.8 Tier 2 | 40.3 | Mature / Stable | Stable | 77.5 | sanctions | C 83U — | |
| 38 | Malta | 71.8 Tier 2 | 72.5 | Priority | Stable2y | 78.6 | sanctions | C 75U — | |
| 39 | Sweden | 71.5 Tier 2 | 31.4 | Mature / Stable | Stable | 85.4 | sanctionssanctions | C 83U — | |
| 41 | Bulgaria | 71.3 Tier 2 | 39.4 | Mature / Stable | Stable | 71.5 | sanctions | C 83U — | |
| 42 | Italy | 71.0 Tier 2 | 26.6 | Mature / Stable | Stable | 74.2 | sanctionssanctions | C 83U — | |
| 43 | Bahrain | 70.9 Tier 2 | 39.2 | Mature / Stable | Improving2y | 65.0 | sanctionssanctions | C 75U — | |
| 44 | Montenegro | 70.4 Tier 2 | 45.7 | Mature / Stable | Stable | 64.3 | sanctionssanctions | C 83U — | |
| 45 | Ireland | 70.3 Tier 2 | 45.5 | Mature / Stable | Stable | 82.3 | sanctions | C 83U — | |
| 46 | Uruguay | 69.7 Tier 2 | 35.9 | Mature / Stable | 68.2 | sanctions | C 83U — | ||
| 47 | Costa Rica | 69.0 Tier 2 | 55.1 | Priority | 68.4 | sanctions | C 83U — | ||
| 48 | Armenia | 68.7 Tier 2 | 72.6 | Priority | Stable | 64.4 | sanctions | C 83U — | |
| 49 | Mauritius | 68.4 Tier 2 | 39.8 | Mature / Stable | 68.8 | sanctions | C 83U — | ||
| 50 | Romania | 68.2 Tier 2 | 34.6 | Mature / Stable | Stable | 57.5 | sanctionssanctions | C 83U — | |
| 51 | Malaysia | 68.1 Tier 2 | 58.7 | Priority | Stable | 80.7 | sanctionssanctions | C 83U — | |
| 52 | Albania | 68.1 Tier 2 low confidence | 55.4 | Priority | Stable | 66.0 | sanctionssanctions | C 58U — | |
| 54 | Serbia | 67.3 Tier 2 | 47.8 | Mature / Stable | Stable | 64.0 | sanctionssanctions | C 83U — | |
| 55 | Kazakhstan | 67.2 Tier 2 | 36.6 | Mature / Stable | Stable | 51.5 | sanctionssanctions | C 83U — | |
| 56 | Saudi Arabia | 67.1 Tier 2–3 low confidence | 62.3 | Priority | Stable2y | 93.1 | sanctionssanctions | C 58U — | |
| 57 | North Macedonia | 67.0 Tier 2 | 32.7 | Mature / Stable | Stable | 62.0 | sanctions | C 83U — | |
| 58 | Barbados | 66.3 Tier 2 | 33.0 | Mature / Stable | n/a | 62.1 | — | C 75U — | |
| 59 | China | 66.3 Tier 2–3 | 45.2 | Mature / Stable | Stable | 87.1 | sanctionssanctions | C 67U — | |
| 61 | Seychelles | 65.6 Tier 2–3 | 25.0 | Mature / Stable | n/a | 40.6 | sanctionssanctions | C 83U — | |
| 62 | Mongolia | 65.4 Tier 2–3 low confidence | 59.6 | Priority | Stable | 56.0 | sanctions | C 58U — | |
| 63 | Thailand | 65.3 Tier 2–3 | 35.7 | Mature / Stable | Stable | 76.4 | active conflictsanctions | C 67U — | |
| 64 | Bhutan | 65.1 Tier 2–3 | 43.1 | Mature / Stable | Stable2y | 69.9 | — | C 75U — | |
| 65 | Colombia | 64.6 Tier 2–3 | 41.9 | Mature / Stable | Stable | 58.7 | active conflictsanctions | C 83U — | |
| 67 | Brazil | 64.5 Tier 2–3 | 51.0 | Priority | Stable | 63.6 | active conflictsanctions | C 67U — | |
| 68 | Belarus | 64.0 Tier 2–3 low confidence | 41.3 | Mature / Stable | Stable | 43.6 | sanctionssanctions | C 58U — | |
| 69 | Vietnam | 63.8 Tier 3 | 61.2 | Priority | Stable | 66.0 | sanctionssanctions | C 83U — | |
| 70 | Uzbekistan | 63.6 Tier 3 | 47.1 | Mature / Stable | Stable | 56.4 | sanctionssanctions | C 83U — | |
| 71 | Ukraine | 63.6 Tier 2–3 low confidence | 38.4 | Mature / Stable | Stable | 49.4 | active conflictsanctionssanctions | C 58U — | |
| 72 | Latvia | 63.5 Tier 3 | 25.3 | Mature / Stable | Improving | 76.4 | sanctionssanctions | C 83U — | |
| 73 | South Africa | 63.4 Tier 2–3 | 22.7 | Mature / Stable | Stable | 66.3 | sanctions | C 67U — | |
| 75 | Botswana | 62.7 Tier 3 | 48.5 | Mature / Stable | Stable | 66.2 | — | C 83U — | |
| 76 | Bosnia and Herzegovina | 62.3 Tier 3 | 39.9 | Mature / Stable | Stable | 59.2 | sanctionssanctions | C 83U — | |
| 78 | Peru | 61.5 Tier 3 | 44.6 | Mature / Stable | 68.1 | sanctions | C 83U — | ||
| 79 | Argentina | 61.2 Tier 3 low confidence | 29.0 | Mature / Stable | Stable | 13.2 | sanctions | C 58U — | |
| 80 | Rwanda | 60.9 Tier 3 | 66.1 | Priority | Improving | 52.3 | sanctionssanctions | C 83U — | |
| 82 | Indonesia | 60.6 Tier 3 | 46.2 | Mature / Stable | Stable | 76.3 | active conflictsanctionssanctions | C 83U — | |
| 83 | Turkey | 60.1 Tier 3 | 42.1 | Mature / Stable | Stable | 41.7 | sanctionssanctions | C 83U — | |
| 84 | Azerbaijan | 59.6 Tier 3 | 52.6 | Priority | Stable | 63.0 | active conflictsanctionssanctions | C 83U — | |
| 86 | Morocco | 59.1 Tier 3 | 48.9 | Mature / Stable | Stable | 73.9 | sanctionssanctions | C 83U — | |
| 87 | Namibia | 58.8 Tier 3 | 51.5 | Priority | Stable | 59.9 | sanctions | C 83U — | |
| 89 | Mexico | 58.1 Tier 3 | 38.8 | Mature / Stable | Stable | 67.8 | active conflictsanctions | C 83U — | |
| 91 | India | 57.0 Tier 3 | 51.3 | Priority | Stable | 74.7 | active conflictsanctionssanctions | C 67U — | |
| 92 | Jamaica | 57.0 Tier 3 | 22.5 | Mature / Stable | Stable2y | 53.5 | sanctions | C 75U — | |
| 94 | Philippines | 55.4 Tier 3 | 38.0 | Mature / Stable | Stable | 72.6 | active conflictsanctionssanctions | C 83U — | |
| 95 | Trinidad and Tobago | 55.3 Tier 3 | 15.0 | Mature / Stable | Stable2y | 68.5 | sanctionssanctions | C 75U — | |
| 96 | Kyrgyzstan | 55.3 Tier 3 | 40.7 | Mature / Stable | Stable | 42.9 | sanctionssanctions | C 83U — | |
| 97 | Nepal | 54.7 Tier 3 | 37.8 | Mature / Stable | n/a | 62.4 | — | C 75U — | |
| 98 | Cambodia | 54.7 Tier 3 | 54.2 | Priority | Stable | 65.0 | sanctions | C 83U — | |
| 99 | Ecuador | 54.5 Tier 3 | 26.6 | Mature / Stable | n/a | 55.4 | active conflictsanctions | C 75U — | |
| 100 | Paraguay | 54.0 Tier 3 | 48.1 | Mature / Stable | Improving2y | 64.9 | sanctions | C 75U — | |
| 101 | Tunisia | 53.6 Tier 3 | 31.7 | Mature / Stable | n/a | 42.0 | sanctionssanctions | C 83U — | |
| 102 | Kenya | 53.5 Tier 3 low confidence | 49.9 | Mature / Stable | Stable | 48.6 | active conflictsanctionssanctions | C 58U — | |
| 104 | Jordan | 52.8 Tier 3 | 44.0 | Mature / Stable | Stable2y | 68.8 | sanctionssanctions | C 83U — | |
| 105 | Cote d'Ivoire | 52.4 Tier 3 | 41.7 | Mature / Stable | n/a | 71.7 | sanctions | C 75U — | |
| 106 | Zimbabwe | 52.1 Tier 3 low confidence | 40.6 | Mature / Stable | Improving | 19.8 | sanctions | C 58U — | |
| 108 | Tanzania | 52.0 Tier 3 | 47.0 | Mature / Stable | Stable | 59.5 | sanctionssanctions | C 83U — | |
| 111 | Cabo Verde | 51.9 Tier 3 | 38.5 | Mature / Stable | n/a | 66.1 | — | C 75U — | |
| 112 | Bangladesh | 51.4 Tier 3 | 43.8 | Mature / Stable | Stable | 37.9 | sanctionssanctions | C 83U — | |
| 113 | Togo | 51.3 Tier 3 | 53.0 | Priority | Improving2y | 62.6 | active conflictsanctions | C 75U — | |
| 115 | Ghana | 51.1 Tier 3–4 | 52.9 | Priority | Stable2y | 46.5 | sanctions | C 75U — | |
| 116 | Zambia | 50.3 Tier 3–4 low confidence | 53.5 | Priority | Stable | 31.2 | sanctions | C 58U — | |
| 117 | El Salvador | 49.8 Tier 3–4 | 41.2 | Deprioritize | Improving2y | 57.0 | sanctions | C 75U — | |
| 118 | Laos | 49.7 Tier 3–4 | 50.9 | Frontier Upside | Stable | 43.5 | sanctions | C 83U — | |
| 119 | Myanmar | 49.7 Tier 3–4 low confidence | 9.1 | Deprioritize | Stable | 32.1 | sanctionssanctions | C 58U — | |
| 120 | Uganda | 49.5 Tier 3–4 low confidence | 60.4 | Frontier Upside | Stable | 54.5 | active conflictsanctionssanctions | C 58U — | |
| 121 | Egypt | 49.0 Tier 3–4 | 43.8 | Deprioritize | Stable2y | 18.5 | sanctionssanctions | C 67U — | |
| 122 | Vanuatu | 49.0 Tier 3–4 | 43.5 | Deprioritize | n/a | 44.7 | — | C 75U — | |
| 123 | Benin | 48.4 Tier 4 | 50.3 | Frontier Upside | Improving2y | 69.2 | active conflictsanctions | C 75U — | |
| 124 | Senegal | 48.2 Tier 4 | 43.3 | Deprioritize | n/a | 58.0 | sanctionssanctions | C 75U — | |
| 126 | Eswatini | 47.4 Tier 4 | 29.6 | Deprioritize | Stable | 59.0 | — | C 83U — | |
| 127 | Malawi | 47.3 Tier 4 low confidence | 34.1 | Deprioritize | Stable | 26.0 | — | C 58U — | |
| 128 | Lesotho | 46.4 Tier 4 | 34.6 | Deprioritize | Stable | 47.2 | — | C 83U — | |
| 129 | Burkina Faso | 46.2 Tier 4 | 48.3 | Deprioritize | Improving2y | 58.0 | active conflictsanctionssanctions | C 75U — | |
| 130 | Timor-Leste | 45.9 Tier 4 | 28.3 | Deprioritize | n/a | 63.0 | — | C 75U — | |
| 131 | Angola | 45.7 Tier 4 | 31.6 | Deprioritize | Stable | 18.9 | sanctions | C 83U — | |
| 132 | Algeria | 45.6 Tier 4 low confidence | 45.7 | Deprioritize | Stable | 61.2 | sanctionssanctions | C 58U — | |
| 135 | Mozambique | 45.0 Tier 4 low confidence | 27.1 | Deprioritize | Stable | 49.6 | active conflictsanctions | C 58U — | |
| 136 | Madagascar | 44.5 Tier 4 | 31.1 | Deprioritize | Stable | 37.3 | — | C 83U — | |
| 137 | Pakistan | 44.5 Tier 4 | 48.7 | Deprioritize | n/a | 40.9 | active conflictsanctionssanctions | C 75U — | |
| 139 | Cameroon | 44.2 Tier 4 | 40.2 | Deprioritize | n/a | 55.7 | active conflictsanctions | C 75U — | |
| 141 | Congo (Kinshasa) | 43.9 Tier 4 | 49.6 | Deprioritize | Improving2y | 57.6 | sanctionssanctions | C 75U — | |
| 142 | Tajikistan | 43.7 Tier 4 | 68.3 | Frontier Upside | Stable | 60.0 | sanctionssanctions | C 83U — | |
| 144 | Democratic Republic of the Congo | 42.9 Tier 4 | 54.3 | Frontier Upside | Stable2y | 17.2 | active conflictsanctionssanctions | C 83U — | |
| 145 | Mali | 41.5 Tier 4 | 38.6 | Deprioritize | Improving2y | 56.7 | active conflictsanctionssanctions | C 75U — | |
| 146 | Burundi | 40.9 Tier 4 low confidence | 26.6 | Deprioritize | Stable | 19.1 | active conflictsanctions | C 58U — | |
| 147 | Libya | 40.3 Tier 4 low confidence | 41.7 | Deprioritize | Improving | 48.4 | sanctionssanctions | C 58U — | |
| 149 | The Gambia | 39.2 Tier 4 | 53.0 | Frontier Upside | Stable2y | 36.1 | sanctions | C 75U — | |
| 151 | Sierra Leone | 37.6 Tier 4 | 48.7 | Deprioritize | n/a | 21.7 | sanctions | C 75U — | |
| 153 | Iraq | 37.1 Tier 4 | 46.3 | Deprioritize | n/a | 60.1 | active conflictsanctionssanctions | C 75U — | |
| 154 | Papua New Guinea | 36.6 Tier 4 | 22.8 | Deprioritize | n/a | 58.5 | — | C 75U — | |
| 155 | Chad | 31.8 Tier 5 | 33.1 | Deprioritize | n/a | 56.5 | active conflictsanctions | C 75U — | |
| 156 | Central African Republic | 27.9 Tier 5 | 54.4 | Frontier Upside | Improving2y | 66.1 | active conflictsanctionssanctions | C 75U — | |
| — | Equatorial Guinea | 36.1 Tier 4–5 | 26.5 | Deprioritize | n/a | 71.0 | — | C 75U — | |
| est. | Bahamas | 60.8 Tier 3 limited data | 59.1 | Priority | Stable2y | 64.1 | sanctions | C 50U — | |
| est. | Bolivia | 55.4 Tier 3 limited data | 23.2 | Mature / Stable | Improving2y | 21.8 | sanctions | C 50U — | |
| est. | Dominican Republic | 59.2 Tier 3 limited data | 45.6 | Mature / Stable | Improving2y | 56.8 | sanctions | C 50U — | |
| est. | Gabon | 44.1 Tier 4 limited data | 34.0 | Deprioritize | n/a | 58.6 | sanctions | C 50U — | |
| est. | Guatemala | 52.8 Tier 3 limited data | 49.0 | Mature / Stable | Improving2y | 65.1 | sanctionssanctions | C 50U — | |
| est. | Guinea | 39.2 Tier 4 limited data | 63.6 | Frontier Upside | Improving2y | 59.1 | sanctionssanctions | C 50U — | |
| est. | Guinea-Bissau | 37.1 Tier 4–5 limited data | 46.9 | Deprioritize | Improving2y | 54.9 | — | C 50U — | |
| est. | Guyana | 52.1 Tier 3–4 limited data | 63.4 | Priority | Improving2y | 61.9 | sanctions | C 50U — | |
| est. | Honduras | 52.0 Tier 3–4 limited data | 41.5 | Mature / Stable | Improving2y | 58.2 | active conflictsanctionssanctions | C 50U — | |
| est. | Kuwait | 64.6 Tier 2–3 limited data | 28.2 | Mature / Stable | Improving2y | 81.7 | sanctionssanctions | C 50U — | |
| est. | Liberia | 44.4 Tier 4 limited data | 34.0 | Deprioritize | Improving2y | 47.3 | sanctions | C 50U — | |
| est. | Maldives | 57.5 Tier 3 limited data | 43.1 | Mature / Stable | n/a | 57.3 | sanctions | C 50U — | |
| est. | Mauritania | 38.0 Tier 4 limited data | 44.6 | Deprioritize | Improving2y | 66.2 | sanctions | C 50U — | |
| est. | Nicaragua | 51.1 Tier 3–4 limited data | 48.2 | Mature / Stable | Improving2y | 58.9 | sanctionssanctions | C 50U — | |
| est. | Niger | 43.3 Tier 4 limited data | 37.5 | Deprioritize | n/a | 48.6 | active conflictsanctionssanctions | C 50U — | |
| est. | Nigeria | 47.6 Tier 3–4 limited data | 28.9 | Deprioritize | Improving2y | 12.5 | active conflictsanctionssanctions | C 50U — | |
| est. | Oman | 67.4 Tier 2–3 limited data | 56.9 | Priority | Stable2y | 73.6 | sanctionssanctions | C 50U — | |
| est. | Panama | 63.0 Tier 2–3 limited data | 36.3 | Mature / Stable | Improving2y | 68.6 | sanctionssanctions | C 50U — | |
| est. | Qatar | 71.4 Tier 2 limited data | 58.5 | Priority | Stable2y | 81.0 | sanctionssanctions | C 50U — | |
| est. | Russia | 62.0 Tier 3 limited data | 33.8 | Mature / Stable | Improving2y | 63.7 | active conflictsanctionssanctions | C 58U — | |
| est. | Samoa | 58.3 Tier 3 limited data | 34.9 | Mature / Stable | n/a | 47.8 | — | C 67U — | |
| est. | Solomon Islands | 45.3 Tier 4 limited data | 31.6 | Deprioritize | Stable2y | 61.1 | — | C 50U — | |
| est. | St. Vincent and the Grenadines | 65.9 Tier 2–3 limited data | 46.4 | Mature / Stable | n/a | 55.4 | sanctions | C 50U — | |
| est. | Suriname | 51.9 Tier 3–4 limited data | 28.6 | Mature / Stable | n/a | 30.6 | sanctions | C 50U — | |
| est. | Tonga | 53.6 Tier 3 limited data | 31.7 | Mature / Stable | n/a | 47.5 | — | C 67U — | |
| est. | Venezuela | 45.5 Tier 4 limited data | 60.5 | Frontier Upside | n/a | 18.5 | sanctionssanctions | C 50U — |