2017 Index of Economic Freedom

Country Rankings

overall score89.8
+1.2
world rank1

#1 Hong Kong

Read More About Hong KongHong Kong has demonstrated a high degree of economic resilience and remains one of the world’s most competitive financial and business hubs. The high-quality legal framework, which provides effective protection of property rights and strong support for the rule of law, continues to be a cornerstone of strength for this dynamic city. There is little tolerance for corruption, and government integrity is buttressed by a high degree of transparency.

Rule of Law

Property Rights93.7

Government Integrity80.3

Judicial Effectiveness84.0

Government Size

Government Spending90.0

Tax Burden93.0

Fiscal Health100.0

Regulatory Efficiency

Business Freedom94.6

Labor Freedom89.1

Monetary Freedom83.2

Open Markets

Trade Freedom90.0

Investment Freedom90.0

Financial Freedom90.0

overall score88.6
+0.8
world rank2

#2 Singapore

Read More About SingaporePrudent macroeconomic policy and a stable political and legal environment have been the keys to Singapore’s continuing success in maintaining a strong and dynamic economy. Well-secured property rights promote entrepreneurship and productivity growth effectively. A strong tradition of minimum tolerance for corruption is institutionalized in an effective judicial framework, strongly sustaining the rule of law.

Rule of Law

Property Rights97.1

Government Integrity87.9

Judicial Effectiveness91.5

Government Size

Government Spending90.1

Tax Burden90.5

Fiscal Health80.7

Regulatory Efficiency

Business Freedom95.1

Labor Freedom90.8

Monetary Freedom84.3

Open Markets

Trade Freedom90.0

Investment Freedom85.0

Financial Freedom80.0

overall score83.7
+2.1
world rank3

#3 New Zealand

Read More About New ZealandNew Zealand’s strong commitment to economic freedom has resulted in a policy framework thatencourages impressive economic resilience. Openness to global trade and investment are firmly institutionalized. The financial system has remained stable, and prudent regulations allowed banks to withstand the past global financial turmoil with little disruption.

Rule of Law

Property Rights96.1

Government Integrity89.9

Judicial Effectiveness88.5

Government Size

Government Spending46.5

Tax Burden70.8

Fiscal Health97.8

Regulatory Efficiency

Business Freedom91.8

Labor Freedom86.2

Monetary Freedom90.1

Open Markets

Trade Freedom87.4

Investment Freedom80.0

Financial Freedom80.0

overall score81.5
+0.5
world rank4

#4 Switzerland

Read More About SwitzerlandSwitzerland’s openness to foreign trade and investment continues to stimulate a dynamic and resilient economy. With a sound regulatory environment and minimal barriers to entrepreneurial growth, the Swiss economy is one of the most competitive and innovative in the world. Macroeconomic stability and a highly developed financial sector reinforce the country’s position as a global financial hub.

Rule of Law

Property Rights86.9

Government Integrity80.3

Judicial Effectiveness77.6

Government Size

Government Spending67.5

Tax Burden70.9

Fiscal Health95.8

Regulatory Efficiency

Business Freedom76.8

Labor Freedom72.2

Monetary Freedom84.4

Open Markets

Trade Freedom90.0

Investment Freedom85.0

Financial Freedom90.0

overall score81.0
+0.7
world rank5

#5 Australia

Read More About AustraliaAustralia, a vibrant free-market democracy, has recorded impressive economic progress unmarred by recession for more than 25 years. In addition to abundant natural resources, the economy has benefited from an effective system of government, a well-functioning legal system, and an independent bureaucracy, all of which have facilitated robust entrepreneurial development.

Rule of Law

Property Rights81.7

Government Integrity74.8

Judicial Effectiveness92.9

Government Size

Government Spending59.0

Tax Burden63.2

Fiscal Health84.6

Regulatory Efficiency

Business Freedom89.3

Labor Freedom84.1

Monetary Freedom86.4

Open Markets

Trade Freedom86.2

Investment Freedom80.0

Financial Freedom90.0

overall score79.1
+1.9
world rank6

#6 Estonia

Read More About EstoniaEstonia’s economy continues to benefit from government policies that sustain a high level of economic freedom. The rule of law remains strongly buttressed and enforced by an independent and efficient judicial system. A simplified tax system with flat rates and low indirect taxation, openness to foreign investment, and a liberal trade regime have supported the resilient and well-functioning economy.

Rule of Law

Property Rights82.6

Government Integrity69.9

Judicial Effectiveness82.8

Government Size

Government Spending55.8

Tax Burden81.2

Fiscal Health99.8

Regulatory Efficiency

Business Freedom77.0

Labor Freedom56.9

Monetary Freedom85.7

Open Markets

Trade Freedom87.0

Investment Freedom90.0

Financial Freedom80.0

overall score78.5
+0.5
world rank7

#7 Canada

Read More About CanadaCanada’s economic competitiveness has been sustained by the solid institutional foundations of an open-market system. The independent judiciary provides strong protection of property rights and upholds the rule of law. The economy is open to global commerce and supported by a high degree of regulatory efficiency.

Rule of Law

Property Rights88.3

Government Integrity81.6

Judicial Effectiveness80.8

Government Size

Government Spending52.3

Tax Burden77.4

Fiscal Health80.3

Regulatory Efficiency

Business Freedom81.9

Labor Freedom73.1

Monetary Freedom77.8

Open Markets

Trade Freedom88.4

Investment Freedom80.0

Financial Freedom80.0

overall score76.9
+4.3
world rank8

#8 United Arab Emirates

Read More About United Arab EmiratesRecent years’ broad-based and dynamic growth in the United Arab Emirates has been underpinned by continuous efforts to strengthen the business climate, boost investment, and foster the emergence of a more vibrant and diverse private sector. The generally liberal trade regime has helped to sustain momentum for growth. The UAE aims to be a regional financial hub, and its banking sector is resilient.

Rule of Law

Property Rights76.7

Government Integrity74.2

Judicial Effectiveness85.0

Government Size

Government Spending67.4

Tax Burden96.4

Fiscal Health99.2

Regulatory Efficiency

Business Freedom81.1

Labor Freedom80.9

Monetary Freedom78.4

Open Markets

Trade Freedom83.5

Investment Freedom40.0

Financial Freedom60.0

overall score76.7
-0.6
world rank9

#9 Ireland

Read More About IrelandIreland’s economic fundamentals remain strong, well supported by solid protection of property rights and an independent judiciary that enforces the rule of law effectively. Commitment to open-market policies that facilitate global trade and investment flows has been well institutionalized, and the economy has demonstrated admirable resilience in the face of recent years’ international and domestic challenges.

Rule of Law

Property Rights85.8

Government Integrity78.3

Judicial Effectiveness78.3

Government Size

Government Spending57.1

Tax Burden72.7

Fiscal Health60.3

Regulatory Efficiency

Business Freedom80.3

Labor Freedom73.6

Monetary Freedom87.6

Open Markets

Trade Freedom87.0

Investment Freedom90.0

Financial Freedom70.0

overall score76.5
-1.2
world rank10

#10 Chile

Read More About ChileChile’s openness to global trade and investment provides a solid basis for economic dynamism. A transparent regulatory environment buttressed by well-secured property rights provides commercial security for the resilient private sector. The independent judicial system continues to sustain the rule of law.

Rule of Law

Property Rights68.2

Government Integrity70.5

Judicial Effectiveness63.7

Government Size

Government Spending82.2

Tax Burden77.6

Fiscal Health96.1

Regulatory Efficiency

Business Freedom72.3

Labor Freedom64.3

Monetary Freedom82.2

Open Markets

Trade Freedom86.4

Investment Freedom85.0

Financial Freedom70.0

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rank country overall change rank country overall change
1 Hong Kong 89.8 +1.2 4 Switzerland 81.5 +0.5
2 Singapore 88.6 +0.8 5 Australia 81.0 +0.7
3 New Zealand 83.7 +2.1

Mostly Free

rank country overall change rank country overall change
6 Estonia 79.1 +1.9 21 Mauritius 74.7 0.0
7 Canada 78.5 +0.5 22 Iceland 74.4 +1.1
8 United Arab Emirates 76.9 +4.3 23 South Korea 74.3 +2.6
9 Ireland 76.7 -0.6 24 Finland 74.0 +1.4
10 Chile 76.5 -1.2 25 Norway 74.0 +3.2
11 Taiwan 76.5 +1.8 26 Germany 73.8 -0.6
12 United Kingdom 76.4 0.0 27 Malaysia 73.8 +2.3
13 Georgia 76.0 +3.4 28 Czech Republic 73.3 +0.1
14 Luxembourg 75.9 +2.0 29 Qatar 73.1 +2.4
15 The Netherlands 75.8 +1.2 30 Austria 72.3 +0.6
16 Lithuania 75.8 +0.6 31 Macedonia 70.7 +3.2
17 United States 75.1 -0.3 32 Macau 70.7 +0.6
18 Denmark 75.1 -0.2 33 Armenia 70.3 +3.3
19 Sweden 74.9 +2.9 34 Botswana 70.1 -1.0
20 Latvia 74.8 +4.4

Moderately Free

rank country overall change rank country overall change
35 Brunei Darussalam 69.8 +2.5 64 Saudi Arabia 64.4 +2.3
36 Israel 69.7 -1.0 65 Albania 64.4 -1.5
37 Colombia 69.7 -1.1 66 El Salvador 64.1 -1.0
38 Uruguay 69.7 +0.9 67 Dominica 63.7 -3.3
39 Romania 69.7 +4.1 68 Azerbaijan 63.6 +3.4
40 Japan 69.6 -3.5 69 Spain 63.6 -4.9
41 Jamaica 69.5 +2.0 70 Mexico 63.6 -1.6
42 Kazakhstan 69.0 +5.4 71 Fiji 63.4 +4.6
43 Peru 68.9 +1.5 72 France 63.3 +1.0
44 Bahrain 68.5 -5.8 73 Tonga 63.0 +3.4
45 Poland 68.3 -1.0 74 Guatemala 63.0 +1.2
46 Kosovo 67.9 +6.5 75 Côte d'Ivoire 63.0 +3.0
47 Bulgaria 67.9 +2.0 76 Dominican Republic 62.9 +1.9
48 Cyprus 67.9 -0.8 77 Portugal 62.6 -2.5
49 Belgium 67.8 -0.6 78 Namibia 62.5 +0.6
50 Malta 67.7 +1.0 79 Italy 62.5 +1.3
51 Rwanda 67.6 +4.5 80 Paraguay 62.4 +0.9
52 Vanuatu 67.4 +6.6 81 South Africa 62.3 +0.4
53 Jordan 66.7 -1.6 82 Oman 62.1 -5.0
54 Panama 66.3 +1.5 83 Montenegro 62.0 -2.9
55 Thailand 66.2 +2.3 84 Indonesia 61.9 +2.5
56 Hungary 65.8 -0.2 85 Seychelles 61.8 -0.4
57 Slovakia 65.7 -0.9 86 Morocco 61.5 +0.2
58 Philippines 65.6 +2.5 87 Trinidad and Tobago 61.2 -1.7
59 Saint Vincent and the Grenadines 65.2 -3.6 88 Swaziland 61.1 +1.4
60 Turkey 65.2 +3.1 89 Kyrgyz Republic 61.1 +1.5
61 Kuwait 65.1 +2.4 90 The Bahamas 61.1 -9.8
62 Saint Lucia 65.0 -5.0 91 Uganda 60.9 +1.6
63 Costa Rica 65.0 -2.4 92 Bosnia and Herzegovina 60.2 +1.6

Mostly Unfree

rank country overall change rank country overall change
93 Burkina Faso 59.6 +0.5 126 Solomon Islands 55.0 +8.0
94 Cambodia 59.5 +1.6 127 Greece 55.0 +1.8
95 Croatia 59.4 +0.3 128 Bangladesh 55.0 +1.7
96 Benin 59.2 -0.1 129 Mongolia 54.8 -4.6
97 Slovenia 59.2 -1.4 130 Barbados 54.5 -13.8
98 Nicaragua 59.2 +0.6 131 Mauritania 54.4 -0.4
99 Serbia 58.9 -3.2 132 Micronesia 54.1 +2.3
100 Honduras 58.8 +1.1 133 Laos 54.0 +4.2
101 Belize 58.6 +1.2 134 Lesotho 53.9 +3.3
102 Mali 58.6 +2.1 135 Kenya 53.5 -4.0
103 Gabon 58.6 -0.4 136 The Gambia 53.4 -3.7
104 Belarus 58.6 +9.8 137 Lebanon 53.3 -6.2
105 Tanzania 58.6 +0.1 138 Togo 53.2 -0.4
106 Guyana 58.5 +3.1 139 Burundi 53.2 -0.7
107 Bhutan 58.4 -1.1 140 Brazil 52.9 -3.6
108 Samoa 58.4 -5.1 141 Pakistan 52.8 -3.1
109 Tajikistan 58.2 +6.9 142 Ethiopia 52.7 +1.2
110 Moldova 58.0 +0.6 143 India 52.6 -3.6
111 China 57.4 +5.4 144 Egypt 52.6 -3.4
112 Sri Lanka 57.4 -2.5 145 Sierra Leone 52.6 +0.3
113 Madagascar 57.4 -3.7 146 Burma 52.5 +3.8
114 Russia 57.1 +6.5 147 Vietnam 52.4 -1.6
115 Nigeria 57.1 -0.4 148 Uzbekistan 52.3 +6.3
116 Cabo Verde 56.9 -9.6 149 Malawi 52.2 +0.4
117 Democratic Republic of Congo 56.4 +10.0 150 Cameroon 51.8 -2.4
118 Ghana 56.2 -6.8 151 Central African Republic 51.8 +6.6
119 Guinea-Bissau 56.1 +4.3 152 Papua New Guinea 50.9 -2.3
120 Senegal 55.9 -2.2 153 Kiribati 50.9 +4.7
121 Comoros 55.8 +3.4 154 Niger 50.8 -3.5
122 Zambia 55.8 -3.0 155 Iran 50.5 +7.0
123 Tunisia 55.7 -1.9 156 Argentina 50.4 +6.6
124 São Tomé and Príncipe 55.4 -1.3 157 Maldives 50.3 -3.6
125 Nepal 55.1 +4.2

Repressed

rank country overall change rank country overall change
158 Mozambique 49.9 -3.3 170 Turkmenistan 47.4 +5.5
159 Haiti 49.6 -1.7 171 Djibouti 46.7 -9.3
160 Ecuador 49.3 +0.7 172 Algeria 46.5 -3.6
161 Liberia 49.1 -3.1 173 Timor-Leste 46.3 +0.5
162 Chad 49.0 +2.7 174 Equatorial Guinea 45.0 +1.3
163 Afghanistan 48.9 N/A 175 Zimbabwe 44.0 +5.8
164 Sudan 48.8 N/A 176 Eritrea 42.2 -0.5
165 Angola 48.5 -0.4 177 Republic of Congo 40.0 -2.8
166 Ukraine 48.1 +1.3 178 Cuba 33.9 +4.1
167 Suriname 48.0 -5.8 179 Venezuela 27.0 -6.7
168 Bolivia 47.7 +0.3 180 North Korea 4.9 +2.6
169 Guinea 47.6 -5.7

Not Ranked

rank country overall change rank country overall change
N/A Iraq N/A N/A N/A Somalia N/A N/A
N/A Libya N/A N/A N/A Syria N/A N/A
N/A Liechtenstein N/A N/A N/A Yemen N/A N/A

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