Singapore was the country with the highest degree of economic freedom in 2021, scoring 8.56 out of 10. Hong Kong followed closely behind at 8.55, and Switzerland came next with a score of 8.47. Most of the highest scoring countries are located in East Asia, Europe, North America, and Oceania.
The Economic Freedom Index scores countries on the economic freedom in a number of areas encompassing legal system & property rights, sound money, freedom to trade internationally and regulation.
The index uses a 0-10 scoring scale in each category with higher values representing greater economic freedom.
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Fraser Institute. (September 19, 2023). Best 20 countries for economic freedom in 2021 [Graph]. In Statista. Retrieved May 05, 2025, from https://www.statista.com/statistics/632405/economic-freedom-index-20-highest-countries/
Fraser Institute. "Best 20 countries for economic freedom in 2021." Chart. September 19, 2023. Statista. Accessed May 05, 2025. https://www.statista.com/statistics/632405/economic-freedom-index-20-highest-countries/
Fraser Institute. (2023). Best 20 countries for economic freedom in 2021. Statista. Statista Inc.. Accessed: May 05, 2025. https://www.statista.com/statistics/632405/economic-freedom-index-20-highest-countries/
Fraser Institute. "Best 20 Countries for Economic Freedom in 2021." Statista, Statista Inc., 19 Sep 2023, https://www.statista.com/statistics/632405/economic-freedom-index-20-highest-countries/
Fraser Institute, Best 20 countries for economic freedom in 2021 Statista, https://www.statista.com/statistics/632405/economic-freedom-index-20-highest-countries/ (last visited May 05, 2025)
Best 20 countries for economic freedom in 2021 [Graph], Fraser Institute, September 19, 2023. [Online]. Available: https://www.statista.com/statistics/632405/economic-freedom-index-20-highest-countries/
