2023 Index of Economic Freedom

Country Rankings

OVERALL SCORE83.9
-0.5
WORLD RANK1

#1 Singapore

Read More About SingaporeSingapore’s economic freedom score is 83.9, making its economy the world’s freest in the 2023 Index. Its score is about the same as last year. Singapore is ranked 1st out of 39 countries in the Asia–Pacific region, and its overall score remains significantly higher than the world and regional averages.

Rule of Law

Property Rights94.0

Judicial Effectiveness58.3

Government Integrity91.2

Government Size

Tax Burden90.6

Government Spending89.0

Fiscal Health78.0

Regulatory Efficiency

Business Freedom86.9

Labor Freedom77.3

Monetary Freedom81.9

Open Markets

Trade Freedom95.0

Investment Freedom85.0

Financial Freedom80.0

Free

Rank Country Overall Change rank Country Overall Change
1 Singapore 83.9 -0.5 3 Ireland 82.0 0.0
2 Switzerland 83.8 -0.4 4 Taiwan 80.7 +0.6

Mostly Free

Rank Country Overall Change rank Country Overall Change
5 New Zealand 78.9 -1.7 17 Latvia 72.8 -2.0
6 Estonia 78.6 -1.4 18 Cyprus 72.3 -0.6
7 Luxembourg 78.4 -2.2 19 Iceland 72.2 -4.8
8 Netherlands 78.0 -1.5 20 Lithuania 72.2 -3.6
9 Denmark 77.6 -0.4 21 Czech Republic 71.9 -2.5
10 Sweden 77.5 -0.4 22 Chile 71.1 -3.3
11 Finland 77.1 -1.2 23 Austria 71.1 -2.7
12 Norway 76.9 0.0 24 United Arab Emirates 70.9 +0.7
13 Australia 74.8 -2.9 25 United States 70.6 -1.5
14 Germany 73.7 -2.4 26 Mauritius 70.6 -0.3
15 South Korea 73.7 -0.9 27 Uruguay 70.2 +0.2
16 Canada 73.7 -2.9

Moderately Free

Rank Country Overall Change rank Country Overall Change
28 United Kingdom 69.9 -2.8 56 North Macedonia 63.7 -2.0
29 Barbados 69.8 -1.5 57 France 63.6 -2.3
30 Portugal 69.5 -1.3 58 Serbia 63.5 -1.7
31 Japan 69.3 -0.6 59 Saint Vincent and the Grenadines 63.5 -2.2
32 Bulgaria 69.3 -1.7 60 Indonesia 63.5 -0.9
33 Slovakia 69.0 -0.7 61 Mexico 63.2 -0.5
34 Israel 68.9 +0.9 62 Colombia 63.1 -2.0
35 Georgia 68.7 -3.1 63 Bosnia and Herzegovina 62.9 -0.5
36 Qatar 68.6 +0.9 64 Guatemala 62.7 -0.5
37 Slovenia 68.5 -2.0 65 Dominican Republic 62.6 -0.4
38 Samoa 68.3 0.0 66 Micronesia 62.6 +1.6
39 Jamaica 68.1 +0.7 67 The Bahamas 62.6 -6.1
40 Poland 67.7 -1.0 68 Bahrain 62.5 +0.5
41 Malta 67.5 -4.0 69 Italy 62.3 -3.1
42 Malaysia 67.3 -0.8 70 Vanuatu 62.1 -0.8
43 Belgium 67.1 -2.5 71 Kazakhstan 62.1 -2.3
44 Peru 66.5 0.0 72 Vietnam 61.8 +1.2
45 Costa Rica 66.5 +1.1 73 Mongolia 61.7 -2.2
46 Croatia 66.4 -1.2 74 São Tomé and Príncipe 61.5 +1.2
47 Cabo Verde 65.8 -0.9 75 Azerbaijan 61.4 -0.2
48 Brunei Darussalam 65.7 +0.9 76 Paraguay 61.0 -1.9
49 Albania 65.3 -1.3 77 Montenegro 60.9 +3.1
50 Armenia 65.1 -0.2 78 Kosovo 60.7 +0.6
51 Spain 65.0 -3.2 79 Saint Lucia 60.7 -3.6
52 Botswana 64.9 +0.1 80 Thailand 60.6 -2.6
53 Romania 64.5 -2.6 81 Côte d'Ivoire 60.4 -1.2
54 Hungary 64.1 -2.8 82 Tonga 60.0 -0.8
55 Panama 63.8 -1.6 83 Tanzania 60.0 +0.5

Mostly Unfree

Rank Country Overall Change rank Country Overall Change
84 Benin 59.8 -1.2 117 Mauritania 55.3 0.0
85 Belize 59.8 +3.2 118 Togo 55.3 -1.9
86 Dominica 59.7 +5.3 119 Ecuador 55.0 +0.7
87 Seychelles 59.5 -1.6 120 Eswatini 54.9 +3.5
88 Trinidad and Tobago 59.5 +0.7 121 Nicaragua 54.9 +0.1
89 Philippines 59.3 -1.8 122 Mali 54.5 -1.4
90 Bhutan 59.0 -0.3 123 Bangladesh 54.4 +1.7
91 Madagascar 58.9 0.0 124 Nigeria 53.9 -0.5
92 Kiribati 58.8 -0.4 125 Russia 53.8 -2.3
93 Jordan 58.8 -1.3 126 Niger 53.7 -1.2
94 Honduras 58.7 -0.8 127 Brazil 53.5 +0.2
95 Oman 58.5 +1.9 128 Comoros 53.5 +3.1
96 Moldova 58.5 -2.8 129 Guinea 53.2 -1.0
97 Morocco 58.4 -0.8 130 Angola 53.0 +0.4
98 Saudi Arabia 58.3 +2.8 131 India 52.9 -1.0
99 Ghana 58.0 -1.8 132 Tunisia 52.9 -1.3
100 Fiji 58.0 +1.6 133 Malawi 52.8 -0.2
101 The Gambia 57.9 -0.1 134 Mozambique 52.5 +1.2
102 Namibia 57.7 -1.5 135 Kenya 52.5 -0.1
103 Senegal 57.7 -2.3 136 Sri Lanka 52.2 -1.1
104 Türkiye 56.9 0.0 137 Rwanda 52.2 -4.9
105 Guyana 56.9 -2.6 138 Chad 52.0 +2.2
106 Solomon Islands 56.9 +0.4 139 Cameroon 51.9 -1.0
107 Greece 56.9 -4.6 140 Papua New Guinea 51.7 -2.9
108 Kuwait 56.7 -1.6 141 Lesotho 51.6 +3.5
109 Uzbekistan 56.5 +0.8 142 Nepal 51.4 +1.7
110 Cambodia 56.5 -0.6 143 Uganda 51.4 -2.8
111 Burkina Faso 56.2 -2.1 144 Argentina 51.0 +0.9
112 Djibouti 56.1 +0.8 145 Belarus 51.0 -2.0
113 Gabon 56.1 +0.3 146 Tajikistan 50.6 +0.9
114 El Salvador 56.0 -3.6 147 Laos 50.3 +1.1
115 Kyrgyz Republic 55.8 0.0 148 Sierra Leone 50.2 -1.8
116 South Africa 55.7 -0.5

Repressed

Rank Country Overall Change rank Country Overall Change
149 Haiti 49.9 -0.1 163 Suriname 46.1 -2.0
150 Liberia 49.6 +1.7 164 Lebanon 45.6 -1.7
151 Egypt 49.6 +0.5 165 Guinea-Bissau 44.6 -1.4
152 Pakistan 49.4 +0.6 166 Central African Republic 43.8 -1.9
153 Equatorial Guinea 48.3 +1.1 167 Bolivia 43.4 +0.4
154 China 48.3 +0.3 168 Algeria 43.2 -2.6
155 Ethiopia 48.3 -1.3 169 Iran 42.2 -0.2
156 Republic of Congo 48.1 -0.4 170 Burundi 41.9 +2.5
157 Democratic Republic of Congo 47.9 +0.3 171 Eritrea 39.5 -0.2
158 Zambia 47.8 -0.9 172 Zimbabwe 39.0 +5.9
159 Timor-Leste 47.2 +0.9 173 Sudan 32.8 +0.8
160 Maldives 46.6 -0.7 174 Venezuela 25.8 +1.0
161 Turkmenistan 46.5 +0.3 175 Cuba 24.3 -5.2
162 Burma 46.5 -3.1 176 North Korea 2.9 -0.1

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 Ukraine N/A N/A
N/A Liechtenstein N/A N/A N/A Yemen N/A N/A

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