2026-04-21 19:58:39
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Central banks are taking diverging paths on gold in 2026.
While countries like Poland, Uzbekistan, and China are adding to their reserves, others, including Russia and Turkey, are selling to manage economic pressures. The split highlights gold’s dual role as both a geopolitical hedge and a source of liquidity.
This chart shows net changes in central bank gold reserves by country so far as of end of February, based on data from the World Gold Council.
Poland is leading global gold accumulation in 2026, adding over 20 tonnes, more than any other central bank so far this year. This purchase is part of a broader multi-year plan to reach 700 tonnes, reflecting heightened security concerns on NATO’s eastern flank.
Uzbekistan and Kazakhstan follow closely behind, continuing a steady trend of gold accumulation among Central Asian economies.
| Country | Net Change in 2026 (Tonnes of Gold) |
|---|---|
Poland |
20.23 |
Uzbekistan |
16.48 |
Kazakhstan |
6.51 |
Malaysia |
4.98 |
Czechia |
3.36 |
China |
2.18 |
Cambodia |
1.69 |
Indonesia |
1.51 |
Serbia |
0.99 |
Philippines |
0.46 |
El Salvador |
0.29 |
Singapore |
0.20 |
Malta |
0.12 |
Mongolia |
0.08 |
Egypt |
0.06 |
Qatar |
0.02 |
Mexico |
-0.02 |
Belarus |
-0.05 |
Kyrgyzstan |
-1.07 |
Bulgaria |
-1.88 |
Turkey |
-8.08 |
Russia |
-15.55 |
The freezing of roughly $300 billion in Russian central bank assets in 2022 marked a turning point for global reserve management.
In response, countries like China and several Central Asian economies have accelerated gold purchases, treating bullion as a reserve asset that sits outside the reach of foreign governments. Unlike foreign currency reserves, gold is not subject to foreign jurisdiction, making it attractive in a fragmented geopolitical landscape. Smaller buyers, such as Cambodia and Serbia, are also gradually increasing their allocations.
On the other side of the ledger, Russia and Turkey are the largest net sellers of gold in 2026.
Russia’s gold sales point to mounting fiscal strain, as wartime spending and sanctions pressure government finances.
Meanwhile, Turkey’s reduction is driven by domestic policy, including efforts to stabilize the lira and manage local gold demand.
If you enjoyed today’s post, check out Mapped: Which Countries Hold the Most Gold Reserves? on Voronoi, the new app from Visual Capitalist.
2026-04-21 12:41:09
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Ireland and Luxembourg dominate the top of this ranking, but some of the most surprising entries come from Central and Eastern Europe, where capital regions rival Western Europe’s wealthiest hubs.
Using data from Eurostat and visualized by DataPulse, this graphic ranks EU regions by GDP per capita in purchasing power standards (PPS), which adjusts for cost-of-living differences across countries.
The table below shows the EU’s top-performing regions by GDP per capita, measured in purchasing power standards (PPS):
| Rank | Region | Country | GDP per Capita (€) | % of EU Avg |
|---|---|---|---|---|
| 1 | Eastern and Midland |
Ireland |
107,200 | 268 |
| 2 | Luxembourg |
Luxembourg |
97,700 | 245 |
| 3 | Southern |
Ireland |
86,500 | 217 |
| 4 | Hamburg |
Germany |
78,300 | 196 |
| 5 | Prague |
Czech Republic |
76,600 | 192 |
| 6 | Brussels |
Belgium |
76,000 | 190 |
| 7 | Bucharest - Ilfov |
Romania |
75,000 | 188 |
| 8 | Capital Region of Denmark |
Denmark |
70,100 | 175 |
| 9 | North Holland |
Netherlands |
69,900 | 175 |
| 10 | Upper Bavaria |
Germany |
67,700 | 170 |
| 11 | Budapest |
Hungary |
67,200 | 168 |
| 12 | Utrecht |
Netherlands |
64,900 | 162 |
| 13 | Bolzano - South Tyrol |
Italy |
64,200 | 161 |
| 14 | Île-de-France |
France |
64,000 | 160 |
| 15 | Warsaw |
Poland |
62,800 | 157 |
| 16 | Walloon Brabant |
Belgium |
61,900 | 155 |
| 17 | Stuttgart (district) |
Germany |
61,300 | 153 |
| 18 | Stockholm |
Sweden |
61,100 | 153 |
| 19 | Bratislava Region |
Slovakia |
61,000 | 153 |
| 20 | Darmstadt (district) |
Germany |
59,200 | 148 |
| 21 | Salzburg |
Austria |
58,100 | 146 |
| 22 | North Brabant |
Netherlands |
55,400 | 139 |
| 23 | Vienna |
Austria |
54,600 | 137 |
| 24 | Antwerp |
Belgium |
54,100 | 135 |
| 25 | Sostinės regionas |
Lithuania |
53,000 | 133 |
| 26 | Bremen (state) Bremen |
Germany |
52,700 | 132 |
| 27 | Lombardy |
Italy |
52,700 | 132 |
| 28 | Zagreb |
Croatia |
52,500 | 131 |
| 29 | Lower Saxony Braunschweig |
Germany |
51,500 | 129 |
| 30 | South Holland |
Netherlands |
51,500 | 129 |
| -- | Average |
European Union |
40,000 | 100 |
The top of the ranking is dominated by two familiar outliers: Ireland and Luxembourg.
Eastern and Midland (Ireland) leads the EU by a wide margin, while Southern Ireland and Luxembourg also rank far above the regional average. Notably, several Central and Eastern European capitals rank ahead of regions in much larger Western economies.
At first glance, Ireland and Luxembourg appear to be runaway leaders. But part of that strength reflects the way multinational firms book profits in these economies.
In Ireland especially, the presence of major foreign companies can push GDP per capita far above what domestic consumption or household income alone would suggest. Economists often describe this gap as GDP distortion, where globally generated profits are recorded locally.
Many of Europe’s wealthiest regions are centered around capital cities or major economic hubs. Prague, Brussels, Paris (Île-de-France), and Copenhagen all rank highly due to:
These regions act as economic engines, attracting talent, investment, and infrastructure that boost productivity and output per person.
Notably, Bucharest-Ilfov (Romania) and Budapest (Hungary) rank among the EU’s top regions, despite their countries having lower overall GDP per capita.
This creates a striking contrast: cities like Bucharest and Budapest rank among the EU’s richest regions, even though their countries rank much lower overall. Economic activity is concentrated in these capital hubs, where multinational firms and high-value services drive productivity well above national averages.
The broader takeaway is that national averages can hide where economic power is really concentrated. Across the EU, a relatively small group of capital cities, financial centers, and multinational hubs account for an outsized share of regional wealth.
For more insights on Europe’s wealth distribution, check out Europe’s Richest Countries on the Voronoi app.
2026-04-21 00:35:15
See visuals like this from many other data creators on our Voronoi app. Download it for free on iOS or Android and discover data-driven charts from a variety of trusted sources.
How free is the internet where you live?
This map ranks 171 countries based on how freely people can access the internet. The results reveal stark global differences, from highly open systems in parts of Europe and Latin America to tightly controlled networks in countries like North Korea and China.
The data comes from a 2026 internet freedom index by Cloudwards, which evaluates national policies across four areas: torrenting, VPN availability, adult content, and political and civic expression.
The United States scores 64 out of 100, placing it in the global middle. It ranks alongside countries like Japan and Australia, and below top performers such as Norway (92) and Canada (84).
The UK scores even lower at 52, reflecting stricter regulations in areas like online content access.
No country achieves a perfect score, but 11 countries across four continents share the top spot at 92.
These countries are Belgium, Costa Rica, Denmark, Finland, Iceland, Liechtenstein, New Zealand, Norway, Slovakia, Suriname, and Timor-Leste.
The data table below lists countries worldwide alongside their internet freedom scores.
| Country | Internet Freedom Score |
|---|---|
Belgium |
92 |
Costa Rica |
92 |
Denmark |
92 |
Finland |
92 |
Iceland |
92 |
Liechtenstein |
92 |
New Zealand |
92 |
Norway |
92 |
Slovakia |
92 |
Suriname |
92 |
Timor-Leste |
92 |
Andorra |
84 |
Austria |
84 |
Belize |
84 |
Canada |
84 |
Cape Verde |
84 |
Chile |
84 |
Côte d’Ivoire |
84 |
Croatia |
84 |
Dominican Republic |
84 |
Greece |
84 |
Guyana |
84 |
Haiti |
84 |
Jamaica |
84 |
Kosovo |
84 |
Lithuania |
84 |
Luxembourg |
84 |
Malta |
84 |
Moldova |
84 |
Montenegro |
84 |
North Macedonia |
84 |
Panama |
84 |
Poland |
84 |
Seychelles |
84 |
Slovenia |
84 |
Switzerland |
84 |
Trinidad & Tobago |
84 |
Uruguay |
84 |
Ireland |
80 |
Latvia |
80 |
Portugal |
80 |
Sweden |
80 |
Argentina |
76 |
Benin |
76 |
Bolivia |
76 |
Bosnia & Herzegovina |
76 |
Cyprus |
76 |
Fiji |
76 |
Gambia |
76 |
Hungary |
76 |
Liberia |
76 |
Madagascar |
76 |
Mongolia |
76 |
Namibia |
76 |
Niger |
76 |
Peru |
76 |
Bulgaria |
72 |
Estonia |
72 |
Ghana |
72 |
Guatemala |
72 |
Italy |
72 |
Mexico |
72 |
Netherlands |
72 |
Paraguay |
72 |
Spain |
72 |
Taiwan |
72 |
Angola |
68 |
Democratic Republic of Congo |
68 |
Gabon |
68 |
Malawi |
68 |
Mali |
68 |
Mauritius |
68 |
Mozambique |
68 |
Papua New Guinea |
68 |
Republic of the Congo |
68 |
Senegal |
68 |
Albania |
64 |
Australia |
64 |
Botswana |
64 |
Central African Republic |
64 |
Ecuador |
64 |
France |
64 |
Georgia |
64 |
Germany |
64 |
Guinea-Bissau |
64 |
Honduras |
64 |
Hong Kong SAR China |
64 |
Japan |
64 |
Lesotho |
64 |
Maldives |
64 |
Morocco |
64 |
Nicaragua |
64 |
Nigeria |
64 |
Romania |
64 |
Serbia |
64 |
South Africa |
64 |
United States |
64 |
Mauritania |
60 |
Armenia |
56 |
Burundi |
56 |
Cameroon |
56 |
Chad |
56 |
Eswatini |
56 |
Guinea |
56 |
Lebanon |
56 |
Palestine |
56 |
Philippines |
56 |
Rwanda |
56 |
Tajikistan |
56 |
Tunisia |
56 |
Bhutan |
52 |
Brazil |
52 |
Colombia |
52 |
Kenya |
52 |
Kyrgyzstan |
52 |
United Kingdom |
52 |
Zambia |
52 |
Algeria |
48 |
Burkina Faso |
48 |
Djibouti |
48 |
Nepal |
48 |
Sri Lanka |
48 |
Tongo |
48 |
Zimbabwe |
48 |
Cambodia |
44 |
El Salvador |
44 |
Israel |
44 |
Somalia |
44 |
Ukraine |
44 |
Azerbaijan |
36 |
Cuba |
36 |
Equatorial Guinea |
36 |
Ethiopia |
36 |
Jordan |
36 |
Kazakhstan |
36 |
Kuwait |
36 |
Laos |
36 |
Thailand |
36 |
Venezuela |
36 |
Bahrain |
32 |
Malaysia |
32 |
Singapore |
32 |
South Korea |
32 |
Libya |
28 |
Tanzania |
28 |
Afghanistan |
24 |
Brunei |
24 |
Indonesia |
24 |
Qatar |
24 |
Uganda |
24 |
Uzbekistan |
24 |
Vietnam |
24 |
Bangladesh |
20 |
Belarus |
20 |
Oman |
20 |
Iraq |
16 |
Myanmar (Burma) |
16 |
Turkmenistan |
16 |
Egypt |
12 |
India |
12 |
Saudi Arabia |
12 |
Sudan |
12 |
Syria |
12 |
Türkiye |
12 |
United Arab Emirates |
12 |
Yemen |
12 |
China |
4 |
Iran |
4 |
Pakistan |
4 |
Russia |
4 |
North Korea |
0 |
European countries make up over half of this top echelon and are especially concentrated in the Nordics, where Sweden (80) is the only exception. The Nordic countries are widely known for their liberal, tolerant governments and societies.
Perhaps more surprising is the high placement of countries like Suriname and Timor-Leste, developing nations in South America and Asia that have nonetheless imposed minimal restrictions on social media use and online access.
On the other side of the spectrum is North Korea (0), where very few citizens have access to the global internet. Instead, most rely on the national intranet service, Kwangmyong, which filters out outside information.
Right behind North Korea are China and Russia, which tie with Iran and Pakistan for the next-lowest scores worldwide (4).
China’s Great Firewall is perhaps the world’s best-known censorship system, used to suppress criticism of the country’s leaders or content related to politically sensitive topics such as the Tiananmen Square protests. It also blocks access to foreign platforms like Facebook and YouTube.
The United States (64) sits near the middle of the ranking, alongside developed democracies such as Australia, France, Germany, and Japan. The United Kingdom (52) scores slightly lower, with recent adult content legislation playing a role.
Across much of the Western world, scores remain relatively high, including in Canada (84), Ireland and Portugal (both 80), and Spain and Italy (both 72).
One notable outlier is South Korea (32), which ranks below countries like Cuba, Kazakhstan, and Venezuela (36), underscoring how content restrictions—not just political systems—shape internet freedom scores.
If you enjoyed today’s post, check out A Day of Activity on the Internet on Voronoi.Use This Visualization
2026-04-20 23:34:00
Geopolitical tensions are putting pressure on global growth, but not all economies are affected equally. Which of the world’s largest economies are set to grow the fastest in 2026?
In this graphic, created in partnership with Terzo, we look at real GDP growth projections for the world’s 20 largest economies. It’s part of our Markets in a Minute series, which delivers quick economic insights.
In 2026, India is projected to see the highest GDP growth among economic powerhouses. The IMF raised its forecast due to India’s strong economy in 2025, as well as the reduction in U.S. tariffs on Indian goods.
| Country | 2026 Projected Real GDP Growth |
|---|---|
India |
6.5% |
Indonesia |
5.0% |
China |
4.4% |
Türkiye |
3.4% |
Poland |
3.3% |
Saudi Arabia |
3.1% |
U.S. |
2.3% |
Spain |
2.1% |
Australia |
2.0% |
Brazil |
1.9% |
South Korea |
1.9% |
Mexico |
1.6% |
Canada |
1.5% |
Netherlands |
1.2% |
Russia |
1.1% |
France |
0.9% |
UK |
0.8% |
Germany |
0.8% |
Japan |
0.7% |
Italy |
0.5% |
Source: IMF World Economic Outlook, April 2026. Real GDP growth is adjusted for inflation.
China takes the third spot among the world’s largest economies with forecasted growth of 4.4%. Its relatively strong prediction is the result of lower U.S. tariff rates on Chinese goods, as well as policy support from Chinese authorities to offset the negative effects of the Middle East conflict.
As a result of the conflict, Saudi Arabia saw the biggest drop in its growth forecast among the world’s largest economies. Experts expect that temporarily reduced oil exports will create a drag on GDP. However, Saudi Arabia is much better off than many of its neighbors due to the East-West pipeline that is able to redirect nearly half of the exports that normally flow through the Strait of Hormuz to the Red Sea instead.
The IMF predicts that the U.S. will have the highest GDP growth among large developed countries, on track for 2.3% in 2026. Boosts to growth come from government spending, interest rate cuts in 2025, and strong productivity. On the flip side, trade barriers and the Middle East war may create moderate drags on growth.
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2026-04-20 22:27:51
See visuals like this from many other data creators on our Voronoi app. Download it for free on iOS or Android and discover data-driven charts from a variety of trusted sources.
Big Tech is pouring hundreds of billions into AI infrastructure as competition to scale models and cloud capacity intensifies.
This chart is part of Visual Capitalist’s AI Week, sponsored by Terzo. It shows quarterly capital expenditures for five hyperscalers—Alphabet, Amazon, Meta, Microsoft, and Oracle—based on data from Epoch AI, using SEC filings from Q1 2022 to Q4 2025.
Spending accelerated sharply after mid-2023, reflecting a shift from experimentation to full-scale deployment of data centers, chips, and AI-ready cloud infrastructure.
Big Tech’s capex surge signals an all-out infrastructure arms race, where scale in compute, data centers, and chips is becoming the defining advantage in AI.
Across Alphabet, Amazon, Meta, Microsoft, and Oracle, combined capex rose from $162.3 billion in 2022 to $448.3 billion in 2025.
The data below shows a quarterly capex proxy for selected hyperscalers between 2022 and 2025.
| Quarter | Microsoft (AI capex, $B) |
Amazon (AI capex, $B) |
Alphabet (AI capex, $B) |
Meta (AI capex, $B) |
Oracle (AI capex, $B) |
|---|---|---|---|---|---|
| 2022 Q1 | 6.1 | 15.1 | 9.8 | 5.6 | 1.1 |
| 2022 Q2 | 8.0 | 15.8 | 6.8 | 7.6 | 1.4 |
| 2022 Q3 | 6.9 | 16.5 | 7.3 | 9.4 | 1.7 |
| 2022 Q4 | 6.9 | 16.9 | 7.6 | 9.4 | 2.4 |
| 2023 Q1 | 7.7 | 14.2 | 6.3 | 7.1 | 2.6 |
| 2023 Q2 | 9.8 | 11.7 | 6.9 | 6.4 | 1.9 |
| 2023 Q3 | 11.6 | 12.7 | 8.1 | 6.5 | 1.3 |
| 2023 Q4 | 11.5 | 14.8 | 11.0 | 8.1 | 1.1 |
| 2024 Q1 | 14.4 | 15.0 | 12.0 | 6.5 | 1.7 |
| 2024 Q2 | 18.6 | 17.8 | 13.2 | 8.4 | 2.8 |
| 2024 Q3 | 19.3 | 22.8 | 13.1 | 8.8 | 2.3 |
| 2024 Q4 | 22.2 | 28.3 | 14.6 | 14.7 | 4.0 |
| 2025 Q1 | 20.0 | 25.1 | 17.7 | 13.7 | 5.9 |
| 2025 Q2 | 23.6 | 33.1 | 22.5 | 17.1 | 11.1 |
| 2025 Q3 | 28.5 | 36.1 | 24.3 | 19.3 | 9.6 |
| 2025 Q4 | 36.2 | 40.5 | 28.5 | 22.5 | 13.0 |
The inflection point came in mid-2023, when AI spending shifted from gradual growth to a steep acceleration, marking the transition from early adoption to full-scale infrastructure buildout. Epoch AI estimates that combined capex at these five companies has been growing at an average annual rate of 72% since Q2 2023.
By Q4 2025, the five companies were spending a combined $140.6 billion in a single quarter. This surge underscores a fundamental shift. AI infrastructure is no longer a future bet, but a present-day cost of competing that is reshaping how the world’s largest tech companies allocate capital.
The growth was uneven, with Microsoft (+$30B), Amazon (+$25B), and Alphabet (+$19B) posting the biggest increases in quarterly capex from Q1 2022 to Q4 2025.
Epoch’s measure is based on two components pulled from SEC filings: cash spending on property, plant, and equipment (PP&E) and new finance leases. It uses structured 10-Q and 10-K filing data instead of company-reported capex figures, since firms do not always define capital expenditures the same way on earnings calls.
That makes the comparison more consistent, but it also comes with limits. Epoch notes that not all of this spending is exclusively AI-related, and excluded operating leases may understate total investment in productive capacity.
If you enjoyed today’s post, check out Visualizing the Critical Minerals Powering the AI Boom on Voronoi.
2026-04-20 22:15:38
Artificial intelligence is moving from breakthrough to everyday infrastructure.
As models grow more powerful and adoption spreads, AI is becoming one of the most consequential forces shaping business, technology, and society.
AI Week is a special editorial series from Visual Capitalist, in partnership with Terzo, exploring how AI is reshaping the world around us.
Be the first to see daily content drops on our AI page:
Over the course of the week, we’ll break down the data behind:
Leading AI models and platforms
The business and infrastructure investments powering the space
How AI adoption is changing across markets and regions
The global trends shaping how people interact with AI
And the forces redefining the future of technology
Daily content drops: Each day, we’ll release new visuals unpacking a critical piece of the AI story.
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