Zimbabwe has been ranked the most terrible and worst country in the world in terms of trade openness.
United Nations (UN) Agency Conference On Trade And Development (UNCTD) gave the southern African nation a lowly three percent behind Cuba and Iran.
President Emmerson Mnangagwa has been seeking to re-engage with the West after two decades of international isolation. However, his questionable economic policies and human rights abuses have dented his chances.
“The lowest value, three percent, was reported for Zimbabwe. Cuba and Iran ranked as the second and third least open economies, respectively,” reads the UNCTD’s 2021 Handbook of Statistics.
Trade openness measures flexibility and accessibility to foreign investors for international trade while the degree of openness is derived at by the size of registered imports and exports of an economy.
“Hong Kong SAR ranks highest in trade-openness; Zimbabwe is placed at the bottom.”
The UNCTAD Handbook of Statistics 2021 provides a wide range of statistics and indicators relevant to the analysis of international trade, investment, maritime transport and development.