Table of Contents

  • The Commonwealth Secretariat has a long history of assisting small states through analysis, research, advocacy, consensus building and project implementation.This latest publication provides an important contribution to assist small states in formulating policies to build economic resilience to address their inherent vulnerability. The inherent vulnerability of small states stems fromtheir high dependence on a narrowrange of exports and on strategic imports such as food and fuel.These features render small states disproportionately exposed to external economic shocks.Other characteristicswhich pose disadvantages for small states include their limited ability to exploit economies of scale, and their limited opportunities for diversification.

  • This publication forms part of a project between the Commonwealth Secretariat and the Islands and Small States Institute of the University of Malta, involving a series of workshops and accompanying publications on the economic vulnerability and resilience of small states. One of the outcomes of the project was the development of an economic resilience index. The project has also led to the development of conceptual and practical approaches for profiling countries in terms of economic vulnerability and resilience.