The Economist Ranks Top Economies of 2023.
The Economist recently released its ranking of the best-performing economies in 2023, considering five key economic and financial indicators—inflation, inflation breadth, gross domestic product (GDP), employment, and stock market performance—across 35 countries.
Top Performers:
1. Greece:
Despite recent economic crises, Greece secured the top spot for the second consecutive year. The country's stock market saw an impressive increase of over 40%, attributed to market-friendly reforms and renewed investor interest.
2. South Korea:
Claiming the second position, South Korea benefited from its central bank's aggressive interest rate hikes in 2022, resulting in a decrease in inflation breadth.
3. United States:
The U.S. ranked third, showcasing strong performance in both GDP and employment. The record-high energy production and generous financial stimulus implemented in 2020 and 2021 contributed to its success.
4. Israel:
Despite conflicts with Palestine, Israel secured the fourth position in the overall ranking, recognizing its robust economic performance.
Other Notable Rankings:
- Canada (6th): Positioned as the sixth-best-performing economy.
- Chile (7th): Secured the seventh spot in the ranking.
Focus on Turkey:
- Turkey (15th, tied with Estonia):
Turkey claimed the 15th position, sharing it with Estonia. Noteworthy is the 20.6% increase in stock prices within the country.
The Economist's data reflects the global economic landscape, emphasizing the significance of factors such as digital transformation and increased market competition in driving economic success.
