Economic Freedom Score: Index measuring the level of economic freedom

The Economic Freedom Score is a comprehensive index that evaluates the level of economic freedom in various countries. It takes into account multiple factors, including property rights, government integrity, trade freedom, and more. By assessing these factors, the index provides insights into the economic policies and institutional framework that contribute to economic liberty and the development of free markets.

In January 2020, Singapore secured the first position in economic freedom with a score of 89.4, demonstrating a strong commitment to free market principles and a conducive business environment. Hong Kong closely followed in second place with a score of 89.1, while New Zealand ranked third with a score of 84.1. These countries showcased a high level of economic freedom, enabling entrepreneurship, investment, and market competitiveness.

A year later, in January 2021, Singapore maintained its first-place position with an increased score of 89.7. New Zealand held its second-place ranking with a score of 83.9, while Australia emerged in third place with a score of 82.4. These countries continued to prioritize economic freedom, allowing for innovation, efficient markets, and strong property rights.

By January 2022, Singapore retained its first-place ranking with a score of 84.4, indicating its ongoing commitment to economic liberty and market-oriented policies. Switzerland climbed to second place with a score of 84.2, and Ireland secured the third spot with a score of 82. These nations demonstrated a favorable business climate and a conducive environment for economic growth.

Looking ahead to January 2023, Singapore maintained its first-place position with a score of 83.9. Switzerland remained in second place with a score of 83.8, and Ireland held the third position with a score of 82. These countries continued to foster economic freedom and support free market principles, attracting investment and promoting sustainable economic development.

It is important to note that while Singapore consistently ranked high in economic freedom, other countries, such as Cuba, Venezuela, and North Korea, faced significant challenges in terms of economic liberty. Their lower scores in the index highlight restrictions on property rights, limited trade freedom, and less favorable institutional frameworks.

By staying updated with the Economic Freedom Score index, policymakers, economists, and businesses can gain valuable insights into the economic policies and institutional factors that contribute to a thriving business environment, individual prosperity, and overall economic growth.

Economic Freedom Score By Country January 2023 (Index, January 2023)

Country Index
1 Singapore 83.9
2 Switzerland 83.8
3 Ireland 82
4 Taiwan 80.7
5 New Zealand 78.9
6 Estonia 78.6
7 Luxembourg 78.4
8 Netherlands 78
9 Denmark 77.6
10 Sweden 77.5
11 Finland 77.1
12 Norway 76.9
13 Australia 74.8
14 Canada 73.7
14 Germany 73.7
14 South Korea 73.7
15 Latvia 72.8
16 Cyprus 72.3
17 Iceland 72.2
17 Lithuania 72.2
18 Czech Republic 71.9
19 Austria 71.1
19 Chile 71.1
20 United Arab Emirates 70.9
21 Mauritius 70.6
21 United States 70.6
22 Uruguay 70.2
23 United Kingdom 69.9
24 Barbados 69.8
25 Portugal 69.5
26 Bulgaria 69.3
26 Japan 69.3
27 Slovakia 69
28 Israel 68.9
29 Georgia 68.7
30 Qatar 68.6
31 Slovenia 68.5
32 Samoa 68.3
33 Jamaica 68.1
34 Poland 67.7
35 Malta 67.5
36 Malaysia 67.3
37 Belgium 67.1
38 Costa Rica 66.5
38 Peru 66.5
39 Croatia 66.4
40 Cape Verde 65.8
41 Brunei 65.7
42 Albania 65.3
43 Armenia 65.1
44 Spain 65
45 Botswana 64.9
46 Romania 64.5
47 Hungary 64.1
48 Panama 63.8
49 North Macedonia 63.7
50 France 63.6
51 Indonesia 63.5
51 Saint Vincent and the Grenadines 63.5
51 Serbia 63.5
52 Mexico 63.2
53 Colombia 63.1
54 Bosnia and Herzegovina 62.9
55 Guatemala 62.7
56 Dominican Republic 62.6
56 Micronesia 62.6
56 Bahamas 62.6
57 Bahrain 62.5
58 Italy 62.3
59 Kazakhstan 62.1
59 Vanuatu 62.1
60 Vietnam 61.8
61 Mongolia 61.7
62 Sao Tome and Principe 61.5
63 Azerbaijan 61.4
64 Paraguay 61
65 Montenegro 60.9
66 Kosovo 60.7
66 Saint Lucia 60.7
67 Thailand 60.6
68 Ivory Coast 60.4
69 Tanzania 60
69 Tonga 60
70 Belize 59.8
70 Benin 59.8
71 Dominica 59.7
72 Seychelles 59.5
72 Trinidad and Tobago 59.5
73 Philippines 59.3
74 Bhutan 59
75 Madagascar 58.9
76 Jordan 58.8
76 Kiribati 58.8
77 Honduras 58.7
78 Moldova 58.5
78 Oman 58.5
79 Morocco 58.4
80 Saudi Arabia 58.3
81 Fiji 58
81 Ghana 58
82 Gambia 57.9
83 Namibia 57.7
83 Senegal 57.7
84 Greece 56.9
84 Guyana 56.9
84 Solomon Islands 56.9
84 Turkey 56.9
85 Kuwait 56.7
86 Cambodia 56.5
86 Uzbekistan 56.5
87 Burkina Faso 56.2
88 Djibouti 56.1
88 Gabon 56.1
89 El Salvador 56
90 Kyrgyzstan 55.8
91 South Africa 55.7
92 Mauritania 55.3
92 Togo 55.3
93 Ecuador 55
94 Eswatini 54.9
94 Nicaragua 54.9
95 Mali 54.5
96 Bangladesh 54.4
97 Nigeria 53.9
98 Russia 53.8
99 Niger 53.7
100 Brazil 53.5
100 Comoros 53.5
101 Guinea 53.2
102 Angola 53
103 India 52.9
103 Tunisia 52.9
104 Malawi 52.8
105 Kenya 52.5
105 Mozambique 52.5
106 Rwanda 52.2
106 Sri Lanka 52.2
107 Chad 52
108 Cameroon 51.9
109 Papua New Guinea 51.7
110 Lesotho 51.6
111 Nepal 51.4
111 Uganda 51.4
112 Argentina 51
112 Belarus 51
113 Tajikistan 50.6
114 Laos 50.3
115 Sierra Leone 50.2
116 Haiti 49.9
117 Egypt 49.6
117 Liberia 49.6
118 Pakistan 49.4
119 China 48.3
119 Equatorial Guinea 48.3
119 Ethiopia 48.3
120 Republic of the Congo 48.1
121 DR Congo 47.9
122 Zambia 47.8
123 Timor-Leste 47.2
124 Maldives 46.6
125 Myanmar 46.5
125 Turkmenistan 46.5
126 Suriname 46.1
127 Lebanon 45.6
128 Guinea-Bissau 44.6
129 Central African Republic 43.8
130 Bolivia 43.4
131 Algeria 43.2
132 Iran 42.2
133 Burundi 41.9
134 Eritrea 39.5
135 Zimbabwe 39
136 Sudan 32.8
137 Venezuela 25.8
138 Cuba 24.3
139 North Korea 2.9

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