2019 Index of Economic Freedom

Country Rankings

overall score90.2
0.0
world rank1

#1 Hong Kong

Read More About Hong KongHong Kong’s economic freedom score is 90.2, sustaining its status as the world’s freest economy in the 2019 Index. Its overall score is unchanged from 2018, with increases in scores for trade freedom, monetary freedom, and government integrity countered by a decline in judicial effectiveness. Hong Kong is ranked 1st among 43 countries in the Asia–Pacific region, and its overall score is well above the regional and world averages.

Rule of Law

Property Rights93.3

Government Integrity83.8

Judicial Effectiveness75.3

Government Size

Government Spending90.3

Tax Burden93.1

Fiscal Health100.0

Regulatory Efficiency

Business Freedom96.4

Labor Freedom89.2

Monetary Freedom86.4

Open Markets

Trade Freedom95.0

Investment Freedom90.0

Financial Freedom90.0

overall score89.4
+0.6
world rank2

#2 Singapore

Read More About SingaporeSingapore’s economic freedom score is 89.4, making its economy the 2nd freest in the 2019 Index. Its overall score has increased by 0.6 point, with increases in scores for trade freedom and government integrity outpacing modest declines in labor freedom and property rights. Singapore is ranked 2nd among 43 countries in the Asia–Pacific region, and its overall score is well above the regional and world averages.

Rule of Law

Property Rights97.4

Government Integrity95.1

Judicial Effectiveness92.4

Government Size

Government Spending90.7

Tax Burden90.4

Fiscal Health80.0

Regulatory Efficiency

Business Freedom90.8

Labor Freedom91.0

Monetary Freedom85.3

Open Markets

Trade Freedom94.8

Investment Freedom85.0

Financial Freedom80.0

overall score84.4
+0.2
world rank3

#3 New Zealand

Read More About New ZealandNew Zealand’s economic freedom score is 84.4, making its economy the 3rd freest in the 2019 Index. Its overall score has increased by 0.2 point, with higher scores for trade freedom and labor freedom narrowly exceeding declines in judicial effectiveness and monetary freedom. New Zealand is ranked 3rd among 43 countries in the Asia–Pacific region, and its overall score is far above the regional and world averages.

Rule of Law

Property Rights95.0

Government Integrity96.7

Judicial Effectiveness83.5

Government Size

Government Spending50.4

Tax Burden71.0

Fiscal Health98.6

Regulatory Efficiency

Business Freedom91.0

Labor Freedom86.7

Monetary Freedom87.5

Open Markets

Trade Freedom92.4

Investment Freedom80.0

Financial Freedom80.0

overall score81.9
+0.2
world rank4

#4 Switzerland

Read More About SwitzerlandSwitzerland’s economic freedom score is 81.9, making its economy the 4th freest in the 2019 Index. Its overall score has increased by 0.2 point, with a significant improvement in government integrity offsetting modestly lower scores for trade freedom and labor freedom. Switzerland is ranked 1st among 44 countries in the Europe region, and its overall score is well above the regional and world averages.

Rule of Law

Property Rights85.3

Government Integrity88.0

Judicial Effectiveness82.0

Government Size

Government Spending64.8

Tax Burden70.5

Fiscal Health96.3

Regulatory Efficiency

Business Freedom75.4

Labor Freedom72.5

Monetary Freedom85.2

Open Markets

Trade Freedom87.4

Investment Freedom85.0

Financial Freedom90.0

overall score80.9
0.0
world rank5

#5 Australia

Read More About AustraliaAustralia’s economic freedom score is 80.9, making its economy the 5th freest in the 2019 Index. Its overall score is unchanged from 2018, with higher scores for labor freedom, government integrity, fiscal health, and trade freedom offsetting a steep drop in judicial effectiveness. Australia is ranked 4th among 43 countries in the Asia–Pacific region, and its overall score is well above the regional and world averages.

Rule of Law

Property Rights79.1

Government Integrity79.9

Judicial Effectiveness86.5

Government Size

Government Spending60.1

Tax Burden62.8

Fiscal Health86.2

Regulatory Efficiency

Business Freedom88.3

Labor Freedom84.1

Monetary Freedom86.6

Open Markets

Trade Freedom87.6

Investment Freedom80.0

Financial Freedom90.0

overall score80.5
+0.1
world rank6

#6 Ireland

Read More About IrelandIreland’s economic freedom score is 80.5, making its economy the 6th freest in the 2019 Index. Its overall score has increased by 0.1 point, with improvements in fiscal health and government spending offsetting a sharp drop in judicial effectiveness. Ireland is ranked 2nd among 44 countries in the Europe region, and its overall score is well above the regional and world averages.

Rule of Law

Property Rights85.8

Government Integrity78.0

Judicial Effectiveness68.4

Government Size

Government Spending77.4

Tax Burden76.3

Fiscal Health89.0

Regulatory Efficiency

Business Freedom83.1

Labor Freedom75.3

Monetary Freedom87.0

Open Markets

Trade Freedom86.0

Investment Freedom90.0

Financial Freedom70.0

overall score78.9
+0.9
world rank7

#7 United Kingdom

Read More About United KingdomThe United Kingdom’s economic freedom score is 78.9, making its economy the 7th freest in the 2019 Index. Its overall score has increased by 0.9 point, with a big jump in fiscal health and higher scores for government integrity and government spending outweighing sharp drops in judicial effectiveness and monetary freedom. The U.K. is ranked 3rd among 44 countries in the Europe region, and its overall score is above the regional and world averages.

Rule of Law

Property Rights92.3

Government Integrity83.8

Judicial Effectiveness85.9

Government Size

Government Spending48.2

Tax Burden64.7

Fiscal Health68.6

Regulatory Efficiency

Business Freedom92.9

Labor Freedom73.5

Monetary Freedom81.2

Open Markets

Trade Freedom86.0

Investment Freedom90.0

Financial Freedom80.0

overall score77.7
0.0
world rank8

#8 Canada

Read More About CanadaCanada’s economic freedom score is 77.7, making its economy the 8th freest in the 2019 Index. Its overall score has not changed, with increases in government integrity, labor freedom, and fiscal health countered by declines in judicial effectiveness, trade freedom, and government spending. Canada is ranked 1st among 32 countries in the Americas region, and its overall score is well above the regional and world averages.

Rule of Law

Property Rights87.0

Government Integrity84.6

Judicial Effectiveness69.4

Government Size

Government Spending51.3

Tax Burden76.8

Fiscal Health83.1

Regulatory Efficiency

Business Freedom81.9

Labor Freedom73.7

Monetary Freedom77.2

Open Markets

Trade Freedom86.8

Investment Freedom80.0

Financial Freedom80.0

overall score77.6
0.0
world rank9

#9 United Arab Emirates

Read More About United Arab EmiratesThe United Arab Emirates’ economic freedom score is 77.6, making its economy the 9th freest in the 2019 Index. Its overall score remains unchanged from 2018, with higher scores for property rights, judicial effectiveness, and government integrity offset by a sharp decline in fiscal health. The UAE is ranked 1st among 14 countries in the Middle East and North Africa region, and its overall score is above the regional and world averages.

Rule of Law

Property Rights81.8

Government Integrity78.8

Judicial Effectiveness87.1

Government Size

Government Spending68.8

Tax Burden99.2

Fiscal Health88.9

Regulatory Efficiency

Business Freedom79.9

Labor Freedom81.1

Monetary Freedom80.9

Open Markets

Trade Freedom84.4

Investment Freedom40.0

Financial Freedom60.0

overall score77.3
+0.7
world rank10

#10 Taiwan

Read More About TaiwanTaiwan’s economic freedom score is 77.3, making its economy the 10th freest in the 2019 Index. Its overall score has increased by 0.7 point, with improvements in labor freedom and monetary freedom outpacing declining scores for government integrity and the tax burden. Taiwan is ranked 5th among 43 countries in the Asia–Pacific region, and its overall score is above the regional and world averages.

Rule of Law

Property Rights85.4

Government Integrity69.2

Judicial Effectiveness70.1

Government Size

Government Spending90.6

Tax Burden75.0

Fiscal Health91.6

Regulatory Efficiency

Business Freedom93.2

Labor Freedom60.9

Monetary Freedom84.4

Open Markets

Trade Freedom87.0

Investment Freedom60.0

Financial Freedom60.0

Free

rank country overall change rank country overall change
1 Hong Kong 90.2 0.0 4 Switzerland 81.9 +0.2
2 Singapore 89.4 +0.6 5 Australia 80.9 0.0
3 New Zealand 84.4 +0.2 6 Ireland 80.5 +0.1

Mostly Free

rank country overall change rank country overall change
7 United Kingdom 78.9 +0.9 22 Malaysia 74.0 -0.5
8 Canada 77.7 0.0 23 Czech Republic 73.7 -0.5
9 United Arab Emirates 77.6 0.0 24 Germany 73.5 -0.7
10 Taiwan 77.3 +0.7 25 Mauritius 73.0 -2.1
11 Iceland 77.1 +0.1 26 Norway 73.0 -1.3
12 United States 76.8 +1.1 27 Israel 72.8 +0.6
13 Netherlands 76.8 +0.6 28 Qatar 72.6 0.0
14 Denmark 76.7 +0.1 29 South Korea 72.3 -1.5
15 Estonia 76.6 -2.2 30 Japan 72.1 -0.2
16 Georgia 75.9 -0.3 31 Austria 72.0 +0.2
17 Luxembourg 75.9 -0.5 32 Rwanda 71.1 +2.0
18 Chile 75.4 +0.2 33 Macedonia 71.1 -0.2
19 Sweden 75.2 -1.1 34 Macau 71.0 +0.1
20 Finland 74.9 +0.8 35 Latvia 70.4 -3.2
21 Lithuania 74.2 -1.1

Moderately Free

rank country overall change rank country overall change
36 Botswana 69.5 -0.4 66 Mexico 64.7 -0.1
37 Bulgaria 69.0 +0.7 67 Barbados 64.7 +7.7
38 Saint Lucia 68.7 +1.1 68 Turkey 64.6 -0.8
39 Jamaica 68.6 -0.5 69 Serbia 63.9 +1.4
40 Uruguay 68.6 -0.6 70 Philippines 63.8 -1.2
41 Malta 68.6 +0.1 71 France 63.8 -0.1
42 Romania 68.6 -0.8 72 Dominica 63.6 -0.9
43 Thailand 68.3 +1.2 73 Cabo Verde 63.1 +3.1
44 Cyprus 68.1 +0.3 74 Bhutan 62.9 +1.1
45 Peru 67.8 -0.9 75 Morocco 62.9 +1.0
46 Poland 67.8 -0.7 76 The Bahamas 62.9 -0.4
47 Armenia 67.7 -1.0 77 Guatemala 62.6 -0.8
48 Belgium 67.3 -0.2 78 Côte d'Ivoire 62.4 +0.4
49 Colombia 67.3 -1.6 79 Kyrgyz Republic 62.3 -0.5
50 Panama 67.2 +0.2 80 Italy 62.2 -0.3
51 Kosovo 67.0 +0.4 81 Fiji 62.2 +0.2
52 Albania 66.5 +2.0 82 Samoa 62.2 +0.7
53 Jordan 66.5 +1.6 83 Bosnia and Herzegovina 61.9 +0.5
54 Bahrain 66.4 -1.3 84 El Salvador 61.8 -1.4
55 Saint Vincent and the Grenadines 65.8 -1.9 85 Paraguay 61.8 -0.3
56 Indonesia 65.8 +1.6 86 Croatia 61.4 +0.4
57 Spain 65.7 +0.6 87 Seychelles 61.4 -0.2
58 Slovenia 65.5 +0.7 88 Oman 61.0 0.0
59 Kazakhstan 65.4 -3.7 89 Dominican Republic 61.0 -0.6
60 Azerbaijan 65.4 +1.1 90 Kuwait 60.8 -1.4
61 Costa Rica 65.3 -0.3 91 Saudi Arabia 60.7 +1.1
62 Portugal 65.3 +1.9 92 Montenegro 60.5 -3.8
63 Brunei Darussalam 65.1 +0.9 93 Honduras 60.2 -0.4
64 Hungary 65.0 -1.7 94 Tanzania 60.2 +0.3
65 Slovakia 65.0 -0.3

Mostly Unfree

rank country overall change rank country overall change
95 Uganda 59.7 -2.3 127 Benin 55.3 -1.4
96 Burkina Faso 59.4 -0.6 128 Vietnam 55.3 +2.2
97 Moldova 59.1 +0.7 129 India 55.2 +0.7
98 Russia 58.9 +0.7 130 Kenya 55.1 +0.4
99 Namibia 58.7 +0.2 131 Pakistan 55.0 +0.6
100 China 58.4 +0.6 132 Eswatini 54.7 -1.2
101 Papua New Guinea 58.4 +2.7 133 Solomon Islands 54.6 -2.9
102 South Africa 58.3 -4.7 134 São Tomé and Príncipe 54.0 +0.4
103 Mali 58.1 +0.5 135 Guinea-Bissau 54.0 -2.9
104 Belarus 57.9 -0.2 136 Nepal 53.8 -0.3
105 Cambodia 57.8 -0.9 137 Ethiopia 53.6 +0.8
106 Greece 57.7 +0.4 138 Zambia 53.6 -0.7
107 Nicaragua 57.7 -1.2 139 Burma 53.6 -0.3
108 Tonga 57.7 -5.4 140 Uzbekistan 53.3 +1.8
109 Ghana 57.5 +1.5 141 Maldives 53.2 +2.1
110 Laos 57.4 +3.8 142 Lesotho 53.1 -0.8
111 Nigeria 57.3 -1.2 143 Haiti 52.7 -3.1
112 Trinidad and Tobago 57.0 -0.7 144 Egypt 52.5 -0.9
113 Guyana 56.8 -1.9 145 Cameroon 52.4 +0.5
114 Madagascar 56.6 -0.2 146 The Gambia 52.4 +0.1
115 Sri Lanka 56.4 -1.4 147 Ukraine 52.3 +0.4
116 Vanuatu 56.4 -13.1 148 Argentina 52.2 -0.1
117 Senegal 56.3 +0.6 149 Micronesia 51.9 -0.4
118 Gabon 56.3 -1.7 150 Brazil 51.9 +0.5
119 Mauritania 55.7 +1.7 151 Niger 51.6 +2.1
120 Guinea 55.7 +3.5 152 Afghanistan 51.5 +0.2
121 Bangladesh 55.6 +0.5 153 Malawi 51.4 -0.6
122 Tajikistan 55.6 -2.7 154 Lebanon 51.1 -2.1
123 Belize 55.4 -1.7 155 Iran 51.1 +0.2
124 Comoros 55.4 -0.8 156 Angola 50.6 +2.0
125 Tunisia 55.4 -3.5 157 Democratic Republic of Congo 50.3 -1.8
126 Mongolia 55.4 -0.3 158 Togo 50.3 +2.5

Repressed

rank country overall change rank country overall change
159 Chad 49.9 +0.6 170 Ecuador 46.9 -1.6
160 Liberia 49.7 -1.2 171 Algeria 46.2 +1.5
161 Central African Republic 49.1 -0.1 172 Timor-Leste 44.2 -3.9
162 Burundi 48.9 -2.0 173 Bolivia 42.3 -1.8
163 Mozambique 48.6 +2.3 174 Equatorial Guinea 41.0 -1.0
164 Turkmenistan 48.4 +1.3 175 Zimbabwe 40.4 -3.6
165 Suriname 48.1 0.0 176 Republic of Congo 39.7 +0.8
166 Sudan 47.7 -1.7 177 Eritrea 38.9 -2.8
167 Sierra Leone 47.5 -4.3 178 Cuba 27.8 -4.1
168 Kiribati 47.3 -3.5 179 Venezuela 25.9 +0.7
169 Djibouti 47.1 +2.0 180 North Korea 5.9 +0.1

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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