Top Tier
France - Still has a good, strong economy, especially with Fur Trade. Big military population space of 120 units. Best heavy cavalry in the game (aside from Lakota). Stronger than average artillery. Military units are above average, to include the skirmisher and musketeer, giving France a very well-rounded and big army. Even has cards to buff native units from trade posts for another significant advantage.
Japan - Average economy, but produces some of the most powerful units in the game. Receives a ton of special bonuses and effects from their wonders, compared to their simpler civilization counterparts. Having a limit of 75 villagers means a big 125 military pop space for more fighting units. Armies can be spawned around the map from anywhere quickly due to roaming Daimyos. Artillery is not great, however.
Sweden - Caroleans can be spammed and can hold their own against their counters due to high HP and ranged resistance (skirmishers). Artillery is produced faster. Has strong hussars and ridiculously powerful strong mercenaries that can be easily spammed. Has a similar card that acts like Fur Trade, but in reverse.
Russia - Good economy with cheaper, but weaker units. High-pressure and aggressive civilization, due to being able to produce infantry instantly to include infantry artillery units. Extremely good map control due to high siege-damage units (Oprichniks, Pavlov grenadiers, boosted petards with Ransack, stronger mortars) and the ability to build forts, walls, and blockhouses much faster than normal. Very flexible army.
Mid Tier
Germany - Strong units and very good economy due to the addition of settler wagons. Very balanced army. Can’t say there’s a glaring weakness or anything with this one, but they can hold their own and do well against anyone. Great civ, even without a musketeer unit.
Portugal - Best skirmishers (cassadors), musketeers, and dragoons in the game, with decent artillery. Prefers to fight from afar with superior gunpowder DPS and really far-reaching mortars. Can be bested by melee civs if they get in too close. Good economy too, especially with the church card for better food gathering. Dominant in water games, if you’re into that.
Spain - One tough son-of-a-gun of a civilization, especially when missionaries are in place, boosting their army’s attack damage intensely with the use of Unction. When missionaries are in place, their army hits extra hard, making them a nightmare to deal with in a closed area like the Orinoco river. Economy is alright. Performs really well with Rodeleros meleeing on the front lines with empowered skirms and cannons shooting at you. Dangerous I tell you
British - Great civilization. Powerful musketeers, hussars, grenadiers, and rockets. Although you can’t really produce their skirmisher unit (the longbowmen) as frequently due to wood costs, they can overcome it with their other tools. Also packs an especially powerful economy if you take the time to raise cattle from the livestock pen and gather food from them.
Dutch - Used to struggle in treaty due to a lower villager count, but that’s been improved. They are very tough to deal with, being famous for a huge overpop in military with tons of skirms and carabineers around and cannons on the battlefield, just because they can.
Ottomans - A good civ. Janissary, Abus guns, and Cavalry Archers are a good combo that can put up a fight among a lot of other civs. Has some of the best and biggest cannons in the game that devour units. Not the best civ for wiping out heavy cavalry from the battlefield, however.
China - Arguable has the best eco in the game, and you will never run out of resources due to cheap units and tons of villagers. Fighting-wise, more often than not, they end up with a negative KD/R, but push enemies over through sheer numbers of troops. Are very powerful though if they engage in melee combat backed up by flamethrowers, but easily countered by culverins and a mass of cannons.
Inca - never personally played them, but they seem better off economically than their other native American counterparts, and they seem to hold their own in teamfights
Low tier
Aztecs - Cool civ, but you always feel like you’re throwing hordes of men into guns and cannons, hoping you win the tradeoff. Arrows Knights can be effective for countering siege if you micro them well and protect them. I find myself many times trying to flank with coyote runners and then closing the gap with my powerful melee units, to some degree of success. If you do get the chance to melee your enemy, it can be absolute slaughter. But without cannons, you will really feel the disparity like you’re sending men to their deaths, hoping for a brawl to win. Especially tough when the enemy is hiding behind walls with cannons and skirms, and there’s no great way to get inside.
India - Strong units all-around, but the civilization has horrible training times and no true canon. It makes you feel like you’re really straggling in team fights to replenish your army. Wood is also somewhat of an issue in the late-game. Would be a mid-high tier civ if had these issues resolved, but sadly India has too many issues to be great.
Haudenosaunee - Great units and lots of potential… but the lack of wood late-game kills it and you won’t be able to use half of your arsenal when you’re out of wood. Otherwise, I’d say it performs great and can do well in any matchup.
Lakota - Very strong units and can put up a dominant, hard fight with any civ (except Sweden). Best cavalry in the game, hands down. And if teepees are set in place, don’t engage without mortars, or face the wrath of 1k+ HP units with 200+ attack. But the economy is absolute garbage, and you feel like you’re on a timebomb before you run out of steam. Lakota never stays in the fight for that long, and their reign of terror ends rather quickly.