Euromoney Belt and Road Results Index: Q3 2018


Chen-Ta Sung
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The Euromoney Belt and Road Index (EBRI) combines International Monetary Fund (IMF) GDP figures with investment climate (IC) scores sourced from economists and political experts who ranked countries on the Euromoney Country Risk platform. The index therefore combines qualitative, crowd-sourced opinion with quantitative data. Using these sources EBRI aims to provide a clear and credible index representing the politico-economic environment and investment climate.


Q3 2018 Results Summary

In Q3 2018, only Laos is categorised as a tier 1 country. Ethiopia was tier 1 in Q3 2017 but dropped to tier 2 for this quarter. Kuwait, Kazakhstan, Brunei, Russia, Ukraine, Azerbaijan, and Yemen are all tier 5. 

Countries between tier 1 and tier 3 are those which have improved their investment climate (IC) and/or GDP since the index's inception in 2013. The number of tier 1-3 countries is increasing year-on-year - with 49 in this quarter compared to 37 in Q3 2017. This trend implies that the Belt and Road Initiative may have improved politico-economic conditions towards some of the Belt and Road Initiative (BRI) countries.   

The Q3 2018 results present graphs and trends which focus on quarter-on-quarter movements of EBRI value over the past five quarters. Asia and Africa have experienced different degrees of improvement in IC and/or GDP since Q3 2017. Central and Eastern Europe (CEE) and the Middle East seem to present a low IC and/or GDP from the perspective of their EBRI aggregated values. However, when looking at the movement of the values between Q3 2017 and Q3 2018, CEE and the Middle East experienced a slight but continuous improvement in their IC and/or GDP.   

More detailed Q3 2018 results and methodology, please see: 

Quarterly Result: Q3 2018 

Historical Data

Graphs and Trends: Q/Q


About EBRI

The Belt and Road Initiative (BRI) – also known as One Belt and One Road – is a development strategy adopted by the Chinese government in 2013. BRI is an infrastructure and trade project intended to connect China – financially and structurally – to various economic entities across Asia, Europe, Africa and Oceania.

In response to the growing demand for information on the impact of this initiative, we have launched the Euromoney Belt and Road Index (EBRI). This index provides investors and other market participants with valuable data to evaluate investment opportunities and to track changes in investment climate and GDP in the Belt and Road region. EBRI publishes new results each quarter, providing data on 68 countries from Q4 2013 to present. 

Contact us

For commercial enquiries please contact Romeo Wang
Email:; Tel: +86 13795313118

For research and data enquiries please contact Chen-Ta Sung
Email:; Tel: +44 (0) 2077798752

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