2015 Index of Economic Freedom

Country Rankings

overall score89.6
-0.5
world rank1

#1 Hong Kong

Read More About Hong KongHong Kong’s economic freedom score is 89.6. Its overall score has declined by 0.5 point since last year, reflecting a higher level of perceived corruption that outweighs small improvements in business freedom, labor freedom, and fiscal freedom. Hong Kong continues to be the top-rated economy in the Index.

Rule of Law

Property Rights90.0

Freedom From Corruption75.0

Limited Government

Government Spending89.7

Fiscal Freedom93.2

Regulatory Efficiency

Business Freedom100.0

Labor Freedom95.9

Monetary Freedom81.8

Open Markets

Trade Freedom90.0

Investment Freedom90.0

Financial Freedom90.0

overall score89.4
0.0
world rank2

#2 Singapore

Read More About SingaporeSingapore’s economic freedom score is 89.4, making its economy the 2nd freest in the 2015 Index. Its score is unchanged from last year, with gains in the management of government spending, monetary freedom, and labor freedom offset by a slightly lower score for freedom from corruption. Only 0.2 point behind Hong Kong, Singapore ranks 2nd out of 42 countries in the Asia–Pacific region.

Rule of Law

Property Rights90.0

Freedom From Corruption86.0

Limited Government

Government Spending93.8

Fiscal Freedom91.2

Regulatory Efficiency

Business Freedom96.9

Labor Freedom96.9

Monetary Freedom83.7

Open Markets

Trade Freedom90.0

Investment Freedom85.0

Financial Freedom80.0

overall score82.1
+0.9
world rank3

#3 New Zealand

Read More About New ZealandNew Zealand’s economic freedom score is 82.1, making its economy the 3rd freest in the 2015 Index. Its score is up by 0.9 point, with improvements in the management of government spending, monetary freedom, and labor freedom outweighing declines in freedom from corruption, fiscal freedom, and business freedom. New Zealand is ranked 3rd out of 42 countries in the Asia–Pacific region and 3rd in the world.

Rule of Law

Property Rights95.0

Freedom From Corruption91.0

Limited Government

Government Spending43.0

Fiscal Freedom70.4

Regulatory Efficiency

Business Freedom95.5

Labor Freedom91.4

Monetary Freedom87.6

Open Markets

Trade Freedom86.8

Investment Freedom80.0

Financial Freedom80.0

overall score81.4
-0.6
world rank4

#4 Australia

Read More About AustraliaAustralia’s economic freedom score is 81.4, making its economy the 4th freest in the 2015 Index. Its overall score is 0.6 point lower than last year, with gains in monetary freedom and labor freedom outweighed by declines in investment freedom, freedom from corruption, and the control of government spending. Australia is ranked 4th out of 42 countries in the Asia–Pacific region.

Rule of Law

Property Rights90.0

Freedom From Corruption81.0

Limited Government

Government Spending61.8

Fiscal Freedom63.7

Regulatory Efficiency

Business Freedom94.1

Labor Freedom81.6

Monetary Freedom85.3

Open Markets

Trade Freedom86.4

Investment Freedom80.0

Financial Freedom90.0

overall score80.5
-1.1
world rank5

#5 Switzerland

Read More About SwitzerlandSwitzerland’s economic freedom score is 80.5, making its economy the 5th freest in the 2015 Index. Its score has decreased by 1.1 points since last year, with modest improvements in business freedom, fiscal freedom, and monetary freedom overwhelmed by a large decline in labor freedom and smaller declines in freedom from corruption and the management of government spending. Switzerland is ranked 1st out of 43 countries in the Europe region.

Rule of Law

Property Rights90.0

Freedom From Corruption85.0

Limited Government

Government Spending65.1

Fiscal Freedom70.3

Regulatory Efficiency

Business Freedom78.1

Labor Freedom75.3

Monetary Freedom86.3

Open Markets

Trade Freedom90.0

Investment Freedom85.0

Financial Freedom80.0

overall score79.1
-1.1
world rank6

#6 Canada

Read More About CanadaCanada’s economic freedom score is 79.1, making its economy the 6th freest in the 2015 Index. Its overall score is 1.1 points lower than last year, with modest improvements in monetary freedom and the control of government spending outweighed by declines in labor freedom and freedom from corruption. Canada continues to be the freest economy in the North America region.

Rule of Law

Property Rights90.0

Freedom From Corruption81.0

Limited Government

Government Spending48.3

Fiscal Freedom79.9

Regulatory Efficiency

Business Freedom89.0

Labor Freedom76.1

Monetary Freedom77.9

Open Markets

Trade Freedom88.4

Investment Freedom80.0

Financial Freedom80.0

overall score78.5
-0.2
world rank7

#7 Chile

Read More About ChileChile’s economic freedom score is 78.5, making its economy the 7th freest in the 2015 Index. Its overall score is 0.2 point lower than last year, with an improvement in monetary freedom outweighed by declines in labor freedom, freedom from corruption, and the control of government spending. Still one of the 10 freest economies in the Index, Chile enjoys the highest degree of economic freedom in the South and Central America/Caribbean region.

Rule of Law

Property Rights90.0

Freedom From Corruption71.0

Limited Government

Government Spending83.3

Fiscal Freedom76.5

Regulatory Efficiency

Business Freedom69.3

Labor Freedom67.0

Monetary Freedom85.6

Open Markets

Trade Freedom82.0

Investment Freedom90.0

Financial Freedom70.0

overall score76.8
+0.9
world rank8

#8 Estonia

Read More About EstoniaEstonia’s economic freedom score is 76.8, making its economy the 8th freest in the 2015 Index. Its overall score is 0.9 point higher than last year, reflecting improvements in six of the 10 economic freedoms, including business freedom, freedom from corruption, and labor freedom. Estonia is ranked 2nd out of 43 countries in the Europe region, and its overall score is well above the regional and world averages.

Rule of Law

Property Rights90.0

Freedom From Corruption68.0

Limited Government

Government Spending53.2

Fiscal Freedom80.6

Regulatory Efficiency

Business Freedom81.5

Labor Freedom58.7

Monetary Freedom77.6

Open Markets

Trade Freedom88.0

Investment Freedom90.0

Financial Freedom80.0

overall score76.6
+0.4
world rank9

#9 Ireland

Read More About IrelandIreland’s economic freedom score is 76.6, making its economy the 9th freest in the 2015 Index. Its score is up by 0.4 point from last year, with a notable combined improvement in the management of government spending and monetary freedom outweighing declines in half of the 10 economic freedoms including property rights, labor freedom, and freedom from corruption. The Irish economy is ranked third out of 43 countries in the Europe region, and its score is far above the world and regional averages.

Rule of Law

Property Rights85.0

Freedom From Corruption72.0

Limited Government

Government Spending45.6

Fiscal Freedom73.6

Regulatory Efficiency

Business Freedom82.1

Labor Freedom76.2

Monetary Freedom83.9

Open Markets

Trade Freedom88.0

Investment Freedom90.0

Financial Freedom70.0

overall score76.4
-0.1
world rank10

#10 Mauritius

Read More About MauritiusMauritius’s economic freedom score is 76.4, making its economy the 10th freest in the 2015 Index. Its overall score is essentially unchanged from last year, with a negative score change of 0.1 point reflecting a significant decline in labor freedom that overshadows gains in the control of government spending, business freedom, and monetary freedom. Mauritius is ranked 1st out of 46 countries in the Sub-Saharan African region, and it scores well above the regional and global averages.

Rule of Law

Property Rights65.0

Freedom From Corruption52.0

Limited Government

Government Spending87.4

Fiscal Freedom91.9

Regulatory Efficiency

Business Freedom78.0

Labor Freedom68.2

Monetary Freedom77.6

Open Markets

Trade Freedom88.4

Investment Freedom85.0

Financial Freedom70.0

Why Does Economic Freedom Matter?

Economic freedom is a crucial component of liberty. It empowers people to work, produce, consume, own, trade, and invest according to their personal choices.

Why Does Economic Freedom Matter? – from The Heritage Foundation's Understanding America series – explores the framework America's Founders established for an economically free nation, and what economic freedom means for the United States and the rest of the world.

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rank country overall change rank country overall change
1 Hong Kong 89.6 -0.5 4 Australia 81.4 -0.6
2 Singapore 89.4 0.0 5 Switzerland 80.5 -1.1
3 New Zealand 82.1 +0.9

Mostly Free

rank country overall change rank country overall change
6 Canada 79.1 -1.1 21 Luxembourg 73.2 -1.0
7 Chile 78.5 -0.2 22 Georgia 73.0 +0.4
8 Estonia 76.8 +0.9 23 Sweden 72.7 -0.4
9 Ireland 76.6 +0.4 24 Czech Republic 72.5 +0.3
10 Mauritius 76.4 -0.1 25 United Arab Emirates 72.4 +1.0
11 Denmark 76.3 +0.2 26 Iceland 72.0 -0.4
12 United States 76.2 +0.7 27 Norway 71.8 +0.9
13 United Kingdom 75.8 +0.9 28 Colombia 71.7 +1.0
14 Taiwan 75.1 +1.2 29 South Korea 71.5 +0.3
15 Lithuania 74.7 +1.7 30 Austria 71.2 -1.2
16 Germany 73.8 +0.4 31 Malaysia 70.8 +1.2
17 The Netherlands 73.7 -0.5 32 Qatar 70.8 -0.4
18 Bahrain 73.4 -1.7 33 Israel 70.5 +2.1
19 Finland 73.4 0.0 34 Macau 70.3 -1.0
20 Japan 73.3 +0.9 35 Saint Lucia 70.2 -0.5

Moderately Free

rank country overall change rank country overall change
36 Botswana 69.8 -2.2 64 Portugal 65.3 +1.8
37 Latvia 69.7 +1.0 65 Rwanda 64.8 +0.1
38 Jordan 69.3 +0.1 66 Montenegro 64.7 +1.1
39 Brunei Darussalam 68.9 -0.1 67 Trinidad and Tobago 64.1 +1.4
40 Belgium 68.8 -1.1 68 Panama 64.1 +0.7
41 The Bahamas 68.7 -1.1 69 Kazakhstan 63.3 -0.4
42 Poland 68.6 +1.6 70 Turkey 63.2 -1.7
43 Uruguay 68.6 -0.7 71 Ghana 63.0 -1.2
44 Saint Vincent and the Grenadines 68.0 +1.0 72 South Africa 62.6 +0.1
45 Cyprus 67.9 +0.3 73 France 62.5 -1.0
46 Barbados 67.9 -0.4 74 Kuwait 62.5 +0.2
47 Peru 67.7 +0.3 75 Thailand 62.4 -0.9
48 Jamaica 67.7 +1.0 76 Philippines 62.2 +2.1
49 Spain 67.6 +0.4 77 Saudi Arabia 62.1 -0.1
50 Slovakia 67.2 +0.8 78 Samoa 61.9 +0.8
51 Costa Rica 67.2 +0.3 79 Madagascar 61.7 0.0
52 Armenia 67.1 -1.8 80 Italy 61.7 +0.8
53 Macedonia 67.1 -1.5 81 Croatia 61.5 +1.1
54 Hungary 66.8 -0.2 82 Kyrgyz Republic 61.3 +0.2
55 Bulgaria 66.8 +1.1 83 Paraguay 61.1 -0.9
56 Oman 66.7 -0.7 84 Vanuatu 61.1 +1.6
57 Romania 66.6 +1.1 85 Azerbaijan 61.0 -0.3
58 Malta 66.5 +0.1 86 Dominican Republic 61.0 -0.3
59 Mexico 66.4 -0.4 87 Guatemala 60.4 -0.8
60 Cabo Verde 66.4 +0.3 88 Slovenia 60.3 -2.4
61 Dominica 66.1 +0.9 89 Morocco 60.1 +1.8
62 El Salvador 65.7 -0.5 90 Serbia 60.0 +0.6
63 Albania 65.7 -1.2

Mostly Unfree

rank country overall change rank country overall change
91 Swaziland 59.9 -1.3 122 Kenya 55.6 -1.5
92 Uganda 59.7 -0.2 123 Guyana 55.5 -0.2
93 Namibia 59.6 +0.2 124 Egypt 55.2 +2.3
94 Lebanon 59.3 -0.1 125 Mozambique 54.8 -0.2
95 Tonga 59.3 +1.1 126 Malawi 54.8 -0.6
96 Mongolia 59.2 +0.3 127 Niger 54.6 -0.5
97 Bosnia and Herzegovina 59.0 +0.6 128 India 54.6 -1.1
98 Fiji 59.0 +0.3 129 Suriname 54.2 0.0
99 Benin 58.8 +1.7 130 Greece 54.0 -1.7
100 Zambia 58.7 -1.7 131 Bangladesh 53.9 -0.2
101 Sri Lanka 58.6 -1.4 132 Burundi 53.7 +2.3
102 Burkina Faso 58.6 -0.3 133 Yemen 53.7 -1.8
103 Côte d'Ivoire 58.5 +0.8 134 Maldives 53.4 +2.4
104 Gabon 58.3 +0.5 135 Mauritania 53.3 +0.1
105 Indonesia 58.1 -0.4 136 São Tomé and Príncipe 53.3 +4.5
106 Senegal 57.8 +2.4 137 Papua New Guinea 53.1 -0.8
107 Tunisia 57.7 +0.4 138 Togo 53.0 +3.1
108 Nicaragua 57.6 -0.8 139 China 52.7 +0.2
109 Tanzania 57.5 -0.3 140 Tajikistan 52.7 +0.7
110 Cambodia 57.5 +0.1 141 Liberia 52.7 +0.3
111 Moldova 57.5 +0.2 142 Comoros 52.1 +0.7
112 Djibouti 57.5 +1.6 143 Russia 52.1 +0.2
113 The Gambia 57.5 -2.0 144 Guinea 52.1 -1.4
114 Seychelles 57.5 +1.3 145 Guinea-Bissau 52.0 +0.7
115 Bhutan 57.4 +0.7 146 Cameroon 51.9 -0.7
116 Honduras 57.4 +0.3 147 Sierra Leone 51.7 +1.2
117 Belize 56.8 +0.1 148 Vietnam 51.7 +0.9
118 Brazil 56.6 -0.3 149 Ethiopia 51.5 +1.5
119 Mali 56.4 +0.9 150 Laos 51.4 +0.2
120 Nigeria 55.6 +1.3 151 Haiti 51.3 +2.4
121 Pakistan 55.6 +0.4 152 Nepal 51.3 +1.2

Repressed

rank country overall change rank country overall change
153 Belarus 49.8 -0.3 166 Central African Republic 45.9 -0.8
154 Micronesia 49.6 -0.2 167 Timor-Leste 45.5 +2.3
155 Lesotho 49.6 +0.1 168 Democratic Republic of Congo 45.0 +4.4
156 Ecuador 49.2 +1.2 169 Argentina 44.1 -0.5
157 Algeria 48.9 -1.9 170 Republic of Congo 42.7 -1.0
158 Angola 47.9 +0.2 171 Iran 41.8 +1.5
159 Solomon Islands 47.0 +0.8 172 Turkmenistan 41.4 -0.8
160 Uzbekistan 47.0 +0.5 173 Equatorial Guinea 40.4 -4.0
161 Burma 46.9 +0.4 174 Eritrea 38.9 +0.4
162 Ukraine 46.9 -2.4 175 Zimbabwe 37.6 +2.1
163 Bolivia 46.8 -1.6 176 Venezuela 34.3 -2.0
164 Kiribati 46.4 +0.1 177 Cuba 29.6 +0.9
165 Chad 45.9 +1.4 178 North Korea 1.3 +0.3

Not Ranked

rank country overall change rank country overall change
N/A Afghanistan N/A N/A N/A Liechtenstein N/A N/A
N/A Iraq N/A N/A N/A Somalia N/A N/A
N/A Kosovo N/A N/A N/A Sudan N/A N/A
N/A Libya N/A N/A N/A Syria N/A N/A

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