Trade Freedom Score (0-100 Scale)
Trade freedom measures the openness of a country's trade policies, reflecting tariff rates, trade barriers, and overall ease of international commerce. This dataset from the Global Food Security Index ranks countries by their trade freedom scores, providing a snapshot of global trade dynamics.
Which countries have the highest trade freedom scores?
Singapore leads with a near-perfect trade freedom score of 95, followed by Australia and New Zealand, both scoring 90. These countries demonstrate minimal trade barriers and open economic policies, promoting international commerce and investment.
Top 10 countries by trade freedom
The countries with the highest trade freedom scores are:
1. Singapore: 95
2. Australia: 90
2. New Zealand: 90
3. Switzerland: 86.6
4. Norway: 85.4
5. United Kingdom: 84.2
5. Spain: 84.2
6. Canada: 83.2
7. Bahrain: 83
8. Malaysia: 82.2
How does trade freedom vary across regions?
High trade freedom is predominantly observed in regions like Europe, Oceania, and parts of Asia. Countries like Switzerland (86.6) and Singapore (95) emphasize open trade policies. Conversely, regions with developing economies, such as Sub-Saharan Africa and South America, often face challenges, as seen in Chad (52) and Argentina (60.6).
What are the benefits of high trade freedom?
Countries with high trade freedom scores benefit from increased foreign investment, competitive markets, and enhanced economic growth. Open trade policies reduce costs for businesses and consumers, fostering innovation and international cooperation.
Which countries face challenges in trade freedom?
Countries like Syria (47), Chad (52), and Venezuela (54.8) rank low on trade freedom, often due to political instability, high tariffs, and restrictive trade policies. These barriers can stifle economic growth and limit access to international markets.
How does trade freedom impact global food security?
High trade freedom facilitates the import and export of agricultural products, ensuring food availability and reducing costs. Countries with open trade policies can better manage supply chain disruptions and improve access to diverse food sources.
Which countries are improving their trade policies?
Emerging economies like Vietnam (78.8) and Indonesia (78.6) are making significant strides in enhancing trade freedom. These improvements reflect ongoing reforms to reduce trade barriers and integrate into global markets.