This master thesis lays the focus on methods, tools, and indices which are relevant when analyzing countries. PESTLE, CAGE and Robinson Country Risk Index are stated out as a framework to examine countries and trading regions. The systematic analyze consist of a literature review which mainly focuses on journal articles and online sources of the associations which are publishing data material of economic indicators. As Globalization in the 21st century has continued at the same speed and the same path like it has started in the 20th century, the chances and opportunities for enterprises of all sizes are still growing. Arbitrage effects in all fields of the value chain have been identified over the past decades, and the companies regularly scan their environment to identify opportunities and threats. The PESTLE analysis can be seen as one framework that consists of the primary six drivers for business. Political, Economic, Social, Technological, Legal and Environment are the aspects that are investigated when a country evaluation is conducted with this framework. The CAGE framework is focusing on distances between the home and host country. The primary objective of the cross cultural analysis is the difference in culture, social, governmental and economic aspects. As a Risk measurement tool of countries, the Robinson Country Risk Index is highlighted in the thesis to point out the opportunity of Risk Measurement by several indices and variables. The indices like the Human Development Index and well-known reports like Global Financial Stability Report, Fiscal Monitor, World Economic Outlook are the three major reports are concluding the thesis.