Country Rankings on Economic Freedom

Economic Freedom in Hongkong City

Hong Kong City as seen from Taiping Mountain

The Heritage Foundation recently published its 25th edition of Economic Freedom Index. The index analyzes the economic policy developments in 186 countries.

These countries are graded and ranked on 12 quantitative and qualitative factors which were assessed from four pillars of economic freedom:

1) Rule of law (property rights, judicial effectiveness, and government integrity);
2) Government size (tax burden, government spending, and fiscal health);
3) Regulatory efficiency (business, labor, and monetary freedom); and
4) Market openness (trade, investment, and financial freedom)

The report shows that Hong Kong (90.2) is the freest economy throughout the world. Singapore (89.4), New Zealand (84.4), Switzerland (81.9), and Australia (80.9) round out the top five countries in the economic freedom index.

Meanwhile, North Korea (5.9), Venezuela (25.9), Cuba (27.8), Eritrea (38.9), and Republic of Congo (39.7) are the least 5 freest economies.

2019 World Economic Freedom Index


Rank CountryScore
1Hong Kong90.2
2Singapore89.4
3New Zealand84.4
4Switzerland81.9
5Australia80.9
6Ireland80.5
7United Kingdom78.9
8Canada77.7
9United Arab Emirates77.6
10Taiwan77.3
11Iceland77.1
12United States of America76.8
13Netherlands76.8
14Denmark76.7
15Estonia76.6
16Georgia75.9
17Luxembourg75.9
18Chile75.4
19Sweden75.2
20Finland74.9
21Lithuania74.2
22Malaysia74
23Czech Republic73.7
24Germany73.5
25Mauritius73
26Norway73
27Israel72.8
28Qatar72.6
29South Korea72.3
30Japan72.1
31Austria72
32Rwanda71.1
33North Macedonia71.1
34Macau71
35Latvia70.4
36Botswana69.5
37Bulgaria69
38Saint Lucia68.7
39Jamaica68.6
40Uruguay68.6
41Malta68.6
42Romania68.6
43Thailand68.3
44Cyprus68.1
45Peru67.8
46Poland67.8
47Armenia67.7
48Belgium67.3
49Colombia67.3
50Panama67.2
51Kosovo67
52Albania66.5
53Jordan66.5
54Bahrain66.4
55Saint Vincent and the Grenadines65.8
56Indonesia65.8
57Spain65.7
58Slovenia65.5
59Kazakhstan65.4
60Azerbaijan65.4
61Costa Rica65.3
62Portugal65.3
63Brunei Darussalam65.1
64Hungary65
65Slovakia65
66Mexico64.7
67Barbados64.7
68Turkey64.6
69Serbia63.9
70Philippines63.8
71France63.8
72Dominica63.6
73Cape Verde63.1
74Bhutan62.9
75Morocco62.9
76Bahamas62.9
77Guatemala62.6
78Côte d'Ivoire62.4
79Kyrgyzstan62.3
80Italy62.2
81Fiji62.2
82Samoa62.2
83Bosnia and Herzegovina61.9
84El Salvador61.8
85Paraguay61.8
86Croatia61.4
87Seychelles61.4
88Oman61
89Dominican Republic61
90Kuwait60.8
91Saudi Arabia60.7
92Montenegro60.5
93Honduras60.2
94Tanzania60.2
95Uganda59.7
96Burkina Faso59.4
97Moldova59.1
98Russia58.9
99Namibia58.7
100China58.4
101Papua New Guinea58.4
102South Africa58.3
103Mali58.1
104Belarus57.9
105Cambodia57.8
106Greece57.7
107Nicaragua57.7
108Tonga57.7
109Ghana57.5
110Laos57.4
111Nigeria57.3
112Trinidad and Tobago57
113Guyana56.8
114Madagascar56.6
115Sri Lanka56.4
116Vanuatu56.4
117Senegal56.3
118Gabon56.3
119Mauritania55.7
120Guinea55.7
121Bangladesh55.6
122Tajikistan55.6
123Belize55.4
124Comoros55.4
125Tunisia55.4
126Mongolia55.4
127Benin55.3
128Vietnam55.3
129India55.2
130Kenya55.1
131Pakistan55
132Eswatini54.7
133Solomon Islands54.6
134São Tomé and Príncipe54
135Guinea-Bissau54
136Nepal53.8
137Ethiopia53.6
138Zambia53.6
139Myanmar53.6
140Uzbekistan53.3
141Maldives53.2
142Lesotho53.1
143Haiti52.7
144Egypt52.5
145Cameroon52.4
146Gambia52.4
147Ukraine52.3
148Argentina52.2
149Micronesia51.9
150Brazil51.9
151Niger51.6
152Afghanistan51.5
153Malawi51.4
154Lebanon51.1
155Iran51.1
156Angola50.6
157Democratic Republic of the Congo50.3
158Togo50.3
159Chad49.9
160Liberia49.7
161Central African Republic49.1
162Burundi48.9
163Mozambique48.6
164Turkmenistan48.4
165Suriname48.1
166Sudan47.7
167Sierra Leone47.5
168Kiribati47.3
169Djibouti47.1
170Ecuador46.9
171Algeria46.2
172Timor-Leste44.2
173Bolivia42.3
174Equatorial Guinea41
175Zimbabwe40.4
176Republic of the Congo39.7
177Eritrea38.9
178Cuba27.8
179Venezuela25.9
180North Korea5.9

 

Source: The Heritage Foundation
Full report: 2019 World Economic Freedom Index