June 14, 2024

UNCTAD Handbook of Statistics; Zimbabwe ranked the world’s worst country on UN Trade Openness

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Zimbabwe has been ranked the world’s worst country on UN Trade Openness according to the UNCTAD Handbook of Statistics 2021.

In terms of trade openness, the United Nations (UN) has classified Zimbabwe as the world’s worst country.

Zimbabwe was ranked third behind Cuba and Iran by the United Nations Conference On Trade And Development (UNCTD).

According to statistics, Zimbabwe had the lowest percentage, at three percent. The second and third least open economies, respectively, were Cuba and Iran.

In terms of trade openness, Hong Kong SAR is at the top, while Zimbabwe is at the bottom.

The degree of openness analyzes the quantity of an economy’s registered imports and exports, whereas trade openness assesses flexibility and accessibility to foreign investors for international trade.

The UNCTAD Handbook of Statistics 2021 contains a comprehensive range of statistics and indicators essential to international trade, investment, maritime transportation, and development studies.

After two decades of international isolation, President Emmerson Mnangagwa has been trying to re-engage with the West. His chances have been harmed by his dubious economic plans and human rights violations.

Mnangagwa has pushed the “Zimbabwe is Open for Business” mantra since assuming power in 2017 following the ouster of his former boss, late former President Robert Mugabe.

Some say it’s just rhetoric because the environment isn’t yet conducive, while others say it’s making progress toward becoming open for business.

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