2022 Index of Economic Freedom

Country Rankings

OVERALL SCORE84.4
-5.3
WORLD RANK1

#1 Singapore

Read More About SingaporeSingapore’s economic freedom score is 84.4, making its economy the freest in the 2022 Index. Singapore is ranked 1st among 39 countries in the Asia–Pacific region, and its overall score is above the regional and world averages.

Rule of Law

Property Rights94.4

Judicial Effectiveness58.3

Government Integrity92.8

Government Size

Tax Burden90.5

Government Spending90.1

Fiscal Health79.6

Regulatory Efficiency

Business Freedom83.1

Labor Freedom77.0

Monetary Freedom86.5

Open Markets

Trade Freedom95.0

Investment Freedom85.0

Financial Freedom80.0

OVERALL SCORE84.2
+2.3
WORLD RANK2

#2 Switzerland

Read More About SwitzerlandSwitzerland’s economic freedom score is 84.2, making its economy the 2nd freest in the 2022 Index. Switzerland is ranked 1st among 45 countries in the Europe region, and its overall score is well above the regional and world averages.

Rule of Law

Property Rights95.2

Judicial Effectiveness98.0

Government Integrity92.3

Government Size

Tax Burden70.1

Government Spending67.2

Fiscal Health96.3

Regulatory Efficiency

Business Freedom84.3

Labor Freedom60.0

Monetary Freedom84.9

Open Markets

Trade Freedom86.6

Investment Freedom85.0

Financial Freedom90.0

OVERALL SCORE82.0
+0.6
WORLD RANK3

#3 Ireland

Read More About IrelandIreland’s economic freedom score is 82.0, making its economy the 3rd freest in the 2022 Index. Ireland is ranked 2nd among 45 countries in the Europe region, and its overall score is above the regional and world averages.

Rule of Law

Property Rights92.6

Judicial Effectiveness93.0

Government Integrity80.7

Government Size

Tax Burden76.5

Government Spending79.9

Fiscal Health89.0

Regulatory Efficiency

Business Freedom87.2

Labor Freedom60.9

Monetary Freedom85.2

Open Markets

Trade Freedom79.2

Investment Freedom90.0

Financial Freedom70.0

OVERALL SCORE80.6
-3.3
WORLD RANK4

#4 New Zealand

Read More About New ZealandNew Zealand’s economic freedom score is 80.6, making its economy the 4th freest in the 2022 Index. New Zealand is ranked 2nd among 39 countries in the Asia–Pacific region, and its overall score is above the regional and world averages.

Rule of Law

Property Rights88.2

Judicial Effectiveness95.9

Government Integrity97.5

Government Size

Tax Burden70.8

Government Spending53.5

Fiscal Health88.3

Regulatory Efficiency

Business Freedom81.3

Labor Freedom70.5

Monetary Freedom81.8

Open Markets

Trade Freedom90.0

Investment Freedom70.0

Financial Freedom80.0

OVERALL SCORE80.6
+4.6
WORLD RANK5

#5 Luxembourg

Read More About LuxembourgLuxembourg’s economic freedom score is 80.6, making its economy the 5th freest in the 2022 Index. Luxembourg is ranked 3rd among 45 countries in the Europe region, and its overall score is above the regional and world averages.

Rule of Law

Property Rights97.4

Judicial Effectiveness96.4

Government Integrity89.5

Government Size

Tax Burden64.1

Government Spending41.5

Fiscal Health98.7

Regulatory Efficiency

Business Freedom89.3

Labor Freedom56.3

Monetary Freedom80.1

Open Markets

Trade Freedom79.2

Investment Freedom95.0

Financial Freedom80.0

OVERALL SCORE80.1
+1.5
WORLD RANK6

#6 Taiwan

Read More About TaiwanTaiwan’s economic freedom score is 80.1, making its economy the 6th freest in the 2022 Index. Taiwan is ranked 3rd among 39 countries in the Asia–Pacific region, and its overall score is above the regional and world averages.

Rule of Law

Property Rights81.3

Judicial Effectiveness94.2

Government Integrity73.8

Government Size

Tax Burden79.2

Government Spending90.7

Fiscal Health86.6

Regulatory Efficiency

Business Freedom84.3

Labor Freedom68.7

Monetary Freedom86.1

Open Markets

Trade Freedom86.0

Investment Freedom70.0

Financial Freedom60.0

OVERALL SCORE80.0
+1.8
WORLD RANK7

#7 Estonia

Read More About EstoniaEstonia’s economic freedom score is 80.0, making its economy the 7th freest in the 2022 Index. Estonia is ranked 4th among 45 countries in the Europe region, and its overall score is above the regional and world averages.

Rule of Law

Property Rights91.5

Judicial Effectiveness92.3

Government Integrity83.9

Government Size

Tax Burden81.1

Government Spending48.4

Fiscal Health93.3

Regulatory Efficiency

Business Freedom86.9

Labor Freedom61.1

Monetary Freedom82.8

Open Markets

Trade Freedom79.2

Investment Freedom90.0

Financial Freedom70.0

OVERALL SCORE79.5
+2.7
WORLD RANK8

#8 Netherlands

Read More About NetherlandsThe Netherlands’ economic freedom score is 79.5, making its economy the 8th freest in the 2022 Index. The Netherlands is ranked 5th among 45 countries in the Europe region, and its overall score is above the regional and world averages.

Rule of Law

Property Rights96.2

Judicial Effectiveness96.9

Government Integrity92.3

Government Size

Tax Burden51.2

Government Spending45.4

Fiscal Health93.6

Regulatory Efficiency

Business Freedom88.1

Labor Freedom58.9

Monetary Freedom82.1

Open Markets

Trade Freedom79.2

Investment Freedom90.0

Financial Freedom80.0

OVERALL SCORE78.3
+2.2
WORLD RANK9

#9 Finland

Read More About FinlandFinland’s economic freedom score is 78.3, making its economy the 9th freest in the 2022 Index. Finland is ranked 6th among 45 countries in the Europe region, and its overall score is above the regional and world averages.

Rule of Law

Property Rights100.0

Judicial Effectiveness97.8

Government Integrity96.4

Government Size

Tax Burden68.4

Government Spending10.7

Fiscal Health83.2

Regulatory Efficiency

Business Freedom88.7

Labor Freedom65.1

Monetary Freedom84.9

Open Markets

Trade Freedom79.2

Investment Freedom85.0

Financial Freedom80.0

OVERALL SCORE78.0
+0.2
WORLD RANK10

#10 Denmark

Read More About DenmarkDenmark’s economic freedom score is 78.0, making its economy the 10th freest in the 2022 Index. Denmark is ranked 7th among 45 countries in the Europe region, and its overall score is above the regional and world averages.

Rule of Law

Property Rights98.6

Judicial Effectiveness89.6

Government Integrity99.5

Government Size

Tax Burden42.3

Government Spending21.1

Fiscal Health96.2

Regulatory Efficiency

Business Freedom89.0

Labor Freedom64.4

Monetary Freedom85.7

Open Markets

Trade Freedom79.2

Investment Freedom90.0

Financial Freedom80.0

Free

Rank Country Overall Change rank Country Overall Change
1 Singapore 84.4 -5.3 5 Luxembourg 80.6 +4.6
2 Switzerland 84.2 +2.3 6 Taiwan 80.1 +1.5
3 Ireland 82.0 +0.6 7 Estonia 80.0 +1.8
4 New Zealand 80.6 -3.3

Mostly Free

Rank Country Overall Change rank Country Overall Change
8 Netherlands 79.5 +2.7 22 Austria 73.8 -0.1
9 Finland 78.3 +2.2 23 Cyprus 72.9 +1.5
10 Denmark 78.0 +0.2 24 United Kingdom 72.7 -5.7
11 Sweden 77.9 +3.2 25 United States 72.1 -2.7
12 Australia 77.7 -4.7 26 Georgia 71.8 -5.4
13 Iceland 77.0 -0.4 27 Malta 71.5 +1.3
14 Norway 76.9 +3.5 28 Barbados 71.3 +6.3
15 Canada 76.6 -1.3 29 Bulgaria 71.0 +0.6
16 Germany 76.1 +3.6 30 Mauritius 70.9 -6.1
17 Lithuania 75.8 -1.1 31 Portugal 70.8 +3.3
18 Latvia 74.8 +2.5 32 Slovenia 70.5 +2.2
19 South Korea 74.6 +0.6 33 United Arab Emirates 70.2 -6.7
20 Chile 74.4 -0.8 34 Uruguay 70.0 +0.7
21 Czech Republic 74.4 +0.6

Moderately Free

Rank Country Overall Change rank Country Overall Change
35 Japan 69.9 -4.2 62 Brunei Darussalam 64.8 -1.8
36 Slovak Republic 69.7 +3.4 63 Indonesia 64.4 -2.5
37 Belgium 69.6 -0.5 64 Kazakhstan 64.4 -6.7
38 The Bahamas 68.7 +4.1 65 Saint Lucia 64.3 -3.2
39 Poland 68.7 -1.0 66 Mongolia 63.9 +1.5
40 Samoa 68.3 +6.4 67 Mexico 63.7 -1.8
41 Spain 68.2 -1.7 68 Bosnia and Herzegovina 63.4 +0.5
42 Malaysia 68.1 -6.3 69 Guatemala 63.2 -0.8
43 Israel 68.0 -5.8 70 Thailand 63.2 -6.5
44 Qatar 67.7 -4.3 71 Dominican Republic 63.0 +0.9
45 Croatia 67.6 +4.0 72 Vanuatu 62.9 +2.4
46 Jamaica 67.4 -1.6 73 Paraguay 62.9 +0.3
47 Romania 67.1 -2.4 74 Bahrain 62.0 -7.9
48 Hungary 66.9 -0.3 75 Azerbaijan 61.6 -8.5
49 Cabo Verde 66.7 +2.9 76 Côte d'Ivoire 61.6 -0.1
50 Albania 66.6 +1.4 77 Greece 61.5 +0.6
51 Peru 66.5 -1.2 78 Moldova 61.3 -1.2
52 France 65.9 +0.2 79 Seychelles 61.1 -5.2
53 North Macedonia 65.7 -2.9 80 Philippines 61.1 -3.0
54 Saint Vincent and the Grenadines 65.7 -0.6 81 Benin 61.0 +1.4
55 Costa Rica 65.4 +1.2 82 Micronesia 61.0 +10.6
56 Panama 65.4 -0.8 83 Tonga 60.8 +3.3
57 Italy 65.4 +0.5 84 Vietnam 60.6 -1.1
58 Armenia 65.3 -6.6 85 São Tomé and Príncipe 60.3 +4.4
59 Serbia 65.2 -2.0 86 Kosovo 60.1 -6.4
60 Colombia 65.1 -3.0 87 Jordan 60.1 -4.5
61 Botswana 64.8 -2.8 88 Senegal 60.0 +2.0

Mostly Unfree

Rank Country Overall Change rank Country Overall Change
89 Ghana 59.8 +0.6 118 Saudi Arabia 55.5 -10.5
90 El Salvador 59.6 -1.4 119 Mauritania 55.3 -0.8
91 Guyana 59.5 +2.1 120 Djibouti 55.3 -0.9
92 Honduras 59.5 -0.3 121 Niger 54.9 -2.4
93 Tanzania 59.5 -1.8 122 Nicaragua 54.8 -1.5
94 Bhutan 59.3 +1.0 123 Papua New Guinea 54.6 -4.3
95 Namibia 59.2 -3.4 124 Nigeria 54.4 -4.3
96 Kiribati 59.2 +14.8 125 Dominica 54.4 +1.4
97 Morocco 59.2 -4.1 126 Ecuador 54.3 +1.9
98 Madagascar 58.9 +1.2 127 Uganda 54.2 -4.4
99 Trinidad and Tobago 58.8 -0.2 128 Tunisia 54.2 -2.4
100 Burkina Faso 58.3 +1.8 129 Guinea 54.2 -2.3
101 Kuwait 58.3 -5.8 130 Ukraine 54.1 -2.1
102 The Gambia 58.0 -0.8 131 India 53.9 -2.6
103 Montenegro 57.8 -5.6 132 Sri Lanka 53.3 -2.4
104 Togo 57.2 -0.3 133 Brazil 53.3 -0.1
105 Rwanda 57.1 -11.2 134 Malawi 53.0 0.0
106 Cambodia 57.1 -0.2 135 Belarus 53.0 -8.0
107 Turkey 56.9 -7.1 136 Cameroon 52.9 -0.5
108 Oman 56.6 -8.0 137 Bangladesh 52.7 -3.8
109 Belize 56.6 -0.9 138 Kenya 52.6 -2.3
110 Solomon Islands 56.5 0.0 139 Angola 52.6 -1.6
111 Fiji 56.4 -5.8 140 Sierra Leone 52.0 +0.3
112 South Africa 56.2 -3.5 141 Eswatini 51.4 -3.7
113 Russia 56.1 -5.4 142 Mozambique 51.3 -0.3
114 Mali 55.9 +0.3 143 Comoros 50.4 -5.3
115 Gabon 55.8 -2.3 144 Argentina 50.1 -2.6
116 Kyrgyz Republic 55.8 -7.9 145 Haiti 50.0 -0.8
117 Uzbekistan 55.7 -2.6

Repressed

Rank Country Overall Change rank Country Overall Change
146 Chad 49.8 -0.6 162 Lebanon 47.3 -4.1
147 Tajikistan 49.7 -5.5 163 Equatorial Guinea 47.2 -2.0
148 Nepal 49.7 -1.0 164 Timor-Leste 46.3 +1.6
149 Burma 49.6 -5.6 165 Turkmenistan 46.2 -1.2
150 Ethiopia 49.6 -2.1 166 Guinea-Bissau 46.0 -8.9
151 Laos 49.2 -4.7 167 Algeria 45.8 -3.9
152 Egypt 49.1 -6.6 168 Central African Republic 45.7 -3.1
153 Pakistan 48.8 -2.9 169 Bolivia 43.0 +0.3
154 Zambia 48.7 -1.7 170 Iran 42.4 -4.8
155 Republic of Congo 48.5 -2.2 171 Eritrea 39.7 -2.6
156 Suriname 48.1 +1.7 172 Burundi 39.4 -10.5
157 Lesotho 48.1 -5.4 173 Zimbabwe 33.1 -6.4
158 China 48.0 -10.4 174 Sudan 32.0 -7.1
159 Liberia 47.9 -1.3 175 Cuba 29.5 +1.4
160 Democratic Republic of Congo 47.6 -1.4 176 Venezuela 24.8 +0.1
161 Maldives 47.3 -7.9 177 North Korea 3.0 -2.2

Not Ranked

Rank Country Overall Change rank Country Overall Change
N/A Afghanistan N/A N/A N/A Somalia N/A N/A
N/A Iraq N/A N/A N/A Syria N/A N/A
N/A Libya N/A N/A N/A Yemen N/A N/A
N/A Liechtenstein N/A N/A

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