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Mapped: Financing Risk by Country in 2025
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Key Takeaways
- Most countries (90) fall in the low-risk category, while 57 countries face high risks in the short term.
- Low-risk countries include the U.S., Canada, Japan, and most of Western Europe.
- Emerging markets like India and Brazil fall into the medium-risk category.
Financing and commercial risk measures how vulnerable countries are to short-term shocks, ranging from liquidity pressures between companies to disruptions in trade activity.
This infographic, based on data from Allianz Trade, visualizes the global landscape of short-term financing and commercial risk as of Q2 2025. The short-term risk ratings measure the risk of non-payment by companies in a given country based on two indicators that track financing flows and disruptions in demand.
The Countries With the Lowest and Highest Risk
Developed economies and oil-rich nations dominate the low risk bucket of countries, while many emerging markets and conflict-facing countries are in riskier categories.
A total of 90 countries fall in the low-risk category, and 57 countries are in the high-risk zone, with others falling into the medium and sensitive-risk brackets.
| Country | Risk Level |
|---|---|
| Afghanistan | High |
| Bahrain | High |
| Belarus | High |
| Bolivia | High |
| Burkina Faso | High |
| Burundi | High |
| Central African Republic | High |
| Chad | High |
| Comoros | High |
| Congo | High |
| Cuba | High |
| Egypt | High |
| Equatorial Guinea | High |
| Eritrea | High |
| Ethiopia | High |
| Gambia | High |
| Ghana | High |
| Guinea | High |
| Guinea-Bissau | High |
| Iran | High |
| Iraq | High |
| Laos | High |
| Lesotho | High |
| Lebanon | High |
| Liberia | High |
| Libya | High |
| Malawi | High |
| Mali | High |
| Marshall Islands | High |
| Micronesia | High |
| Moldova | High |
| Mozambique | High |
| Myanmar | High |
| Nauru | High |
| Nepal | High |
| Niger | High |
| North Korea | High |
| Pakistan | High |
| Papua New Guinea | High |
| Russia | High |
| Sierra Leone | High |
| Solomon Islands | High |
| Somalia | High |
| South Sudan | High |
| Sri Lanka | High |
| Sudan | High |
| Syria | High |
| Timor-Leste | High |
| Tonga | High |
| Tunisia | High |
| Turkmenistan | High |
| Ukraine | High |
| Vanuatu | High |
| Venezuela | High |
| Yemen | High |
| Zambia | High |
| Zimbabwe | High |
| American Samoa | Low |
| Andorra | Low |
| Anguilla | Low |
| Antarctica | Low |
| Aruba | Low |
| Australia | Low |
| Austria | Low |
| Azerbaijan | Low |
| Belgium | Low |
| Bermuda | Low |
| Bouvet Island | Low |
| British Indian Ocean Territory | Low |
| British Virgin Islands | Low |
| Bulgaria | Low |
| Canada | Low |
| Cayman Islands | Low |
| Chile | Low |
| China | Low |
| Christmas Island | Low |
| Cocos (Keeling) Islands | Low |
| Costa Rica | Low |
| Czech Republic | Low |
| Denmark | Low |
| Dominican Republic | Low |
| Estonia | Low |
| Falkland Islands | Low |
| Finland | Low |
| France | Low |
| French Guiana | Low |
| French Polynesia | Low |
| Germany | Low |
| Gibraltar | Low |
| Greenland | Low |
| Grenada | Low |
| Guadeloupe | Low |
| Guam | Low |
| Guatemala | Low |
| Heard & McDonald Islands | Low |
| Hong Kong | Low |
| Hungary | Low |
| Indonesia | Low |
| Ireland | Low |
| Japan | Low |
| Liechtenstein | Low |
| Luxembourg | Low |
| Macao | Low |
| Malaysia | Low |
| Malta | Low |
| Martinique | Low |
| Mayotte | Low |
| Monaco | Low |
| Montserrat | Low |
| Morocco | Low |
| Netherlands | Low |
| New Caledonia | Low |
| New Zealand | Low |
| Norfolk Island | Low |
| Northern Mariana Islands | Low |
| Norway | Low |
| Oman | Low |
| Paraguay | Low |
| Peru | Low |
| Philippines | Low |
| Pitcairn Islands | Low |
| Puerto Rico | Low |
| Qatar | Low |
| Réunion | Low |
| San Marino | Low |
| Saudi Arabia | Low |
| Singapore | Low |
| Slovakia | Low |
| Slovenia | Low |
| South Georgia & Sandwich Islands | Low |
| South Korea | Low |
| Spain | Low |
| St. Helena | Low |
| St. Maarten | Low |
| Svalbard & Jan Mayen | Low |
| Sweden | Low |
| Switzerland | Low |
| Taiwan | Low |
| Thailand | Low |
| Tokelau | Low |
| Turks & Caicos | Low |
| United Arab Emirates | Low |
| United Kingdom | Low |
| United States | Low |
| Uruguay | Low |
| US Minor Outlying Islands | Low |
| US Virgin Islands | Low |
| Vatican City | Low |
| Wallis & Futuna | Low |
| Albania | Medium |
| Algeria | Medium |
| Bahamas | Medium |
| Benin | Medium |
| Botswana | Medium |
| Brazil | Medium |
| Brunei | Medium |
| Cambodia | Medium |
| Cape Verde | Medium |
| Colombia | Medium |
| Côte d'Ivoire | Medium |
| Croatia | Medium |
| Cyprus | Medium |
| Djibouti | Medium |
| Dominica | Medium |
| French Southern Territories | Medium |
| Greece | Medium |
| Guyana | Medium |
| Honduras | Medium |
| Iceland | Medium |
| India | Medium |
| Israel | Medium |
| Italy | Medium |
| Jamaica | Medium |
| Kuwait | Medium |
| Latvia | Medium |
| Lithuania | Medium |
| Maldives | Medium |
| Mauritius | Medium |
| Mexico | Medium |
| Namibia | Medium |
| Niue | Medium |
| North Macedonia | Medium |
| Palau | Medium |
| Panama | Medium |
| Poland | Medium |
| Portugal | Medium |
| Rwanda | Medium |
| São Tomé & Príncipe | Medium |
| Serbia | Medium |
| Seychelles | Medium |
| St. Kitts & Nevis | Medium |
| St. Lucia | Medium |
| St. Pierre & Miquelon | Medium |
| Tanzania | Medium |
| Trinidad & Tobago | Medium |
| Vietnam | Medium |
| Angola | Sensitive |
| Antigua & Barbuda | Sensitive |
| Argentina | Sensitive |
| Armenia | Sensitive |
| Bangladesh | Sensitive |
| Barbados | Sensitive |
| Belize | Sensitive |
| Bhutan | Sensitive |
| Bosnia & Herzegovina | Sensitive |
| Cameroon | Sensitive |
| Congo (Dem. Rep.) | Sensitive |
| Cook Islands | Sensitive |
| Curaçao | Sensitive |
| Ecuador | Sensitive |
| El Salvador | Sensitive |
| Eswatini | Sensitive |
| Fiji | Sensitive |
| Gabon | Sensitive |
| Georgia | Sensitive |
| Jordan | Sensitive |
| Kazakhstan | Sensitive |
| Kenya | Sensitive |
| Kiribati | Sensitive |
| Kyrgyzstan | Sensitive |
| Madagascar | Sensitive |
| Mauritania | Sensitive |
| Mongolia | Sensitive |
| Montenegro | Sensitive |
| Nicaragua | Sensitive |
| Nigeria | Sensitive |
| Romania | Sensitive |
| Samoa | Sensitive |
| Senegal | Sensitive |
| South Africa | Sensitive |
| St. Vincent & Grenadines | Sensitive |
| Suriname | Sensitive |
| Tajikistan | Sensitive |
| Togo | Sensitive |
| Turkey | Sensitive |
| Tuvalu | Sensitive |
| Uganda | Sensitive |
| Uzbekistan | Sensitive |
Countries like the United States, Canada, Germany, and Japan are in the low risk category. Most of Western Europe—including France, Switzerland, and the Nordic nations—also fall into this bracket.
In the Asia-Pacific region, China, Singapore, Japan, and South Korea remain anchors of stability, alongside Australia. Meanwhile, emerging markets like Brazil, India, Vietnam, and Mexico face medium risks in the short term.
High and Sensitive Risk Regions
According to Allianz, 42 countries fall in the sensitive risk category (a rank above medium risk), including Argentina, Bangladesh, South Africa, and more than 15 other African nations.
High-risk countries are concentrated in Sub-Saharan Africa, parts of the Middle East, and conflict-affected states such as Ukraine, Syria, and Sudan. These economies could face credit constraints and short-term disruptions in demand and economic activity.
Learn More on the Voronoi App
If you enjoyed today’s post, check out Central Banks Gold Reserves vs. U.S. Treasuries on Voronoi, the new app from Visual Capitalist.