How do nations score on Economic Freedom Index?

Economic freedom is when a person is liberated to work, consume, invest and produce wherever they want. If a nation is economically abled, then it allows free movement of capital, goods, and labor. The key factor in an economically abled country is ‘free trade’. Subsequently, it plays a very vital role in the development of the society and the nation can economically prosper far better than the countries which have restrictions.

Economic freedom serves multiple functions- by allowing the people to work without the interference of government, more job opportunities are created, thereby reducing the unemployment rate in a county. When more people are employed, there will be higher revenue generation, better innovation in the industry, and hence an optimum utilization of resources.

Economic freedom strengthens the foundation of a country. When the people are economically free, they would invest more in education. An educated citizen is better than 10 uneducated ones. When the education levels rise, the economy flourishes.

To measure the degree of economic freedom in the nations around the world, The Heritage Foundation and The Wall Street Journal have been releasing the Index of Economic Freedom since 1995. The index, which is published annually, covers 12 freedoms- property rights, government integrity, judicial effectiveness, tax burden, government spending, fiscal health, business freedom, labor freedom, monetary freedom, trade freedom, investment freedom, and financial freedom. The scores vary between 0 and 100, with 0 for the least free country and 100 for the freest country.

The table below highlights the details of the Economic Freedom Index 2017.

Ranking 2018	Country	Abuse Score	Underlying Situation Score	Global  Score 2018	Global  Score 2017	Difference Score 2017	Ranking 2017	Difference Ranking 2017
1	Norway	0	7.63	7.63	7.6	0.03	1	0
2	Sweden	0	8.31	8.31	8.27	0.04	2	0
3	Netherlands	0	10.01	10.01	11.28	-1.27	5	2
4	Finland	0	10.26	10.26	8.92	1.34	3	-1
5	Switzerland	0	11.27	11.27	12.13	-0.86	7	2
6	Jamaica	0	11.33	11.33	12.73	-1.4	8	2
7	Belgium	0	13.16	13.16	12.75	0.41	9	2
8	New Zealand	0	13.62	13.62	13.98	-0.36	13	5
9	Denmark	45	6.24	13.99	10.36	3.63	4	-5
10	Costa Rica	0	14.01	14.01	11.93	2.08	6	-4
11	Austria	0	14.04	14.04	13.47	0.57	11	0
12	Estonia	0	14.08	14.08	13.55	0.53	12	0
13	Iceland	0	14.1	14.1	13.03	1.07	10	-3
14	Portugal	6.9	14.17	14.17	15.77	-1.6	18	4
15	Germany	28.3	10.9	14.39	14.97	-0.58	16	1
16	Ireland	0	14.59	14.59	14.08	0.51	14	-2
17	Luxembourg	0	14.72	14.72	14.72	0	15	-2
18	Canada	13.9	14.92	15.28	16.53	-1.25	22	4
19	Australia	0	15.46	15.46	16.02	-0.56	19	0
20	Uruguay	0	15.56	15.56	17.43	-1.87	25	5
21	Surinam	0	16.44	16.44	16.07	0.37	20	-1
22	Samoa	0	16.69	16.69	16.41	0.28	21	-1
23	Ghana	0	18.41	18.41	17.95	0.46	26	3
24	Latvia	0	19.63	19.63	18.62	1.01	28	4
25	Cyprus	0	19.85	19.85	19.79	0.06	30	5
26	Namibia	0	20.24	20.24	17.08	3.16	24	-2
27	Slovakia	0	20.26	20.26	15.51	4.75	17	-10
28	South Africa	0	20.39	20.39	20.12	0.27	31	3
29	Cabo Verde	0	20.39	20.39	18.02	2.37	27	-2
30	Liechtenstein	0	20.49	20.49	20.31	0.18	32	2
31	Spain	16.1	20.11	20.51	18.69	1.82	29	-2
32	Slovenia	0	21.69	21.69	21.7	-0.01	37	5
33	France	28.9	20.11	21.87	22.24	-0.37	39	6
34	Czech Republic	0	21.89	21.89	16.91	4.98	23	-11
35	OECS	0	22.11	22.11	22.1	0.01	38	3
36	Lithuania	0	22.2	22.2	21.37	0.83	36	0
37	Andorra	0	22.21	22.21	21.03	1.18	35	-2
38	Chile	0	22.69	22.69	20.53	2.16	33	-5
39	Trinidad and Tobago	11	22.79	22.79	20.62	2.17	34	-5
40	United Kingdom	0	23.25	23.25	22.26	0.99	40	0
41	Burkina Faso	0	23.33	23.33	23.85	-0.52	42	1
42	Taiwan	0	23.36	23.36	24.37	-1.01	45	3
43	South Korea	0	23.51	23.51	27.61	-4.1	63	20
44	Romania	0	23.65	23.65	24.46	-0.81	46	2
45	United States	37.4	20.32	23.73	23.88	-0.15	43	-2
46	Italy	6.9	24.12	24.12	26.26	-2.14	52	6
47	Belize	0	24.55	24.55	23.43	1.12	41	-6
48	Botswana	11	25.29	25.29	24.93	0.36	48	0
49	Comoros	0	25.3	25.3	24.33	0.97	44	-5
50	Senegal	0	25.61	25.61	26.72	-1.11	58	8
51	Tonga	0	25.68	25.68	24.97	0.71	49	-2
52	Argentina	40.1	22.54	26.05	25.07	0.98	50	-2
53	Papua New Guinea	11	26.19	26.19	25.07	1.12	51	-2
54	Madagascar	13.9	26.2	26.2	26.71	-0.51	57	3
55	Guyana	0	26.25	26.25	26.8	-0.55	60	5
56	Mauritius	0	26.45	26.45	26.67	-0.22	56	0
57	Fiji	0	26.55	26.55	28.64	-2.09	67	10
58	Poland	0	26.59	26.59	26.47	0.12	54	-4
59	Dominican Republic	0	26.79	26.79	26.76	0.03	59	0
60	Haïti	0	26.82	26.82	26.36	0.46	53	-7
61	Georgia	0	27.34	27.34	27.76	-0.42	64	3
62	Bosnia-Herzegovina	0	27.37	27.37	27.83	-0.46	65	3
63	Niger	13.9	27.4	27.4	27.21	0.19	61	-2
64	Malawi	0	27.43	27.43	28.97	-1.54	70	6
65	Malta	45	23.04	27.44	24.76	2.68	47	-18
66	El Salvador	0	27.78	27.78	27.24	0.54	62	-4
67	Japan	0	28.64	28.64	29.44	-0.8	72	5
68	Lesotho	0	28.78	28.78	28.78	0	68	0
69	Croatia	0	28.94	28.94	29.59	-0.65	74	5
70	Hong Kong	6.9	29.04	29.04	29.46	-0.42	73	3
71	Mongolia	0	29.05	29.05	28.95	0.1	69	-2
72	Mauritania	36.4	27.16	29.09	26.49	2.6	55	-17
73	Hungary	0	29.11	29.11	29.01	0.1	71	-2
74	Greece	0	29.19	29.19	30.89	-1.7	88	14
75	Albania	16.1	29.49	29.49	29.92	-0.43	76	1
76	Serbia	0	29.58	29.58	28.05	1.53	66	-10
77	Northern Cyprus	0	29.59	29.59	29.88	-0.29	75	-2
78	Kosovo	6.9	29.61	29.61	30.45	-0.84	82	4
79	Sierra Leone	0	29.98	29.98	30.73	-0.75	85	6
80	Armenia	0	29.99	29.99	30.38	-0.39	79	-1
81	Moldova	6.9	30.01	30.01	30.41	-0.4	80	-1
82	Côte d’Ivoire	20.8	29.76	30.08	30.42	-0.34	81	-1
83	Guinea Bissau	0	30.09	30.09	30.09	0	77	-6
84	Benin	0	30.16	30.16	30.32	-0.16	78	-6
85	Seychelles	0	30.17	30.17	30.86	-0.69	87	2
86	Togo	13.9	30.23	30.23	30.75	-0.52	86	0
87	Israel	27.1	30.05	30.26	31.01	-0.75	91	4
88	Peru	13.9	30.27	30.27	30.98	-0.71	90	2
89	Liberia	0	30.33	30.33	31.12	-0.79	94	5
90	Nicaragua	0	30.41	30.41	31.01	-0.6	92	2
91	Panama	0	30.56	30.56	32.12	-1.56	96	5
92	Ecuador	0	30.56	30.56	33.64	-3.08	105	13
93	Tanzania	0	30.65	30.65	30.65	0	83	-10
94	Bhutan	0	30.73	30.73	30.73	0	84	-10
95	East Timor	0	30.81	30.81	32.82	-2.01	98	3
96	Kenya	23	30.82	30.82	31.2	-0.38	95	-1
97	Tunisia	16.1	30.91	30.91	32.22	-1.31	97	0
98	Kyrgyzstan	26.4	31	31	30.92	0.08	89	-9
99	Mozambique	0	31.12	31.12	31.05	0.07	93	-6
100	Lebanon	23	31.08	31.15	33.01	-1.86	99	-1
101	Ukraine	35.3	30.14	31.16	33.19	-2.03	102	1
102	Brazil	48.9	26.78	31.2	33.58	-2.38	103	1
103	Montenegro	0	31.21	31.21	33.65	-2.44	106	3
104	Guinea	24.8	31.9	31.9	33.15	-1.25	101	-3
105	Kuwait	0	31.91	31.91	33.61	-1.7	104	-1
106	Nepal	23	31.96	32.05	33.02	-0.97	100	-6
107	Paraguay	11	32.32	32.32	35.64	-3.32	110	3
108	Gabon	30.9	31.98	32.37	34.83	-2.46	108	0
109	Republic of North Macedonia	13.9	32.43	32.43	35.74	-3.31	111	2
110	Bolivia	17.9	32.45	32.45	33.88	-1.43	107	-3
111	Bulgaria	0	35.22	35.22	35.01	0.21	109	-2
112	Central African Republic	11	35.25	35.25	36.12	-0.87	113	1
113	Zambia	23	35.02	35.36	36.48	-1.12	114	1
114	Congo-Brazzaville	31.4	35.42	35.42	36.73	-1.31	115	1
115	Mali	0	36.15	36.15	38.27	-2.12	116	1
116	Guatemala	11	36.17	36.17	39.33	-3.16	118	2
117	Uganda	35.6	36.19	36.77	35.94	0.83	112	-5
118	Afghanistan	68.3	29.53	37.28	39.46	-2.18	120	2
119	Nigeria	41.1	36.48	37.41	39.69	-2.28	122	3
120	Maldives	45.7	35.85	37.95	39.3	-1.35	117	-3
121	Angola	0	38.35	38.35	40.42	-2.07	125	4
122	Gambia	0	38.36	38.36	46.7	-8.34	143	21
123	Chad	28.3	38.45	38.45	39.66	-1.21	121	-2
124	Indonesia	17.9	39.68	39.68	39.93	-0.25	124	0
125	Qatar	0	40.16	40.16	39.83	0.33	123	-2
126	Zimbabwe	23	40.53	40.53	41.44	-0.91	128	2
127	Oman	34	40.67	40.67	40.46	0.21	126	-1
128	United Arab Emirates	40.8	40.37	40.86	39.39	1.47	119	-9
129	Cameroon	34.7	40.72	40.92	41.59	-0.67	130	1
130	Colombia	46.8	39.58	41.03	41.47	-0.44	129	-1
131	Sri Lanka	6.9	41.37	41.37	44.34	-2.97	141	10
132	Jordan	0	41.71	41.71	43.24	-1.53	138	6
133	Philippines	58.9	38.43	42.53	41.08	1.45	127	-6
134	Palestine	48.7	40.68	42.96	42.9	0.06	135	1
135	Morocco / Western Sahara	27.1	43.13	43.13	42.42	0.71	133	-2
136	Algeria	13.9	43.13	43.13	42.83	0.3	134	-2
137	Myanmar	47.4	41.66	43.15	41.82	1.33	131	-6
138	India	60.1	39.01	43.24	42.94	0.3	136	-2
139	Pakistan	49.7	41.63	43.24	43.55	-0.31	139	0
140	Thailand	47.6	43.49	44.31	44.69	-0.38	142	2
141	Honduras	46.3	44.95	45.23	43.75	1.48	140	-1
142	Cambodia	37.4	45.9	45.9	42.07	3.83	132	-10
143	Venezuela	45.6	45.56	46.03	42.94	3.09	137	-6
144	South Sudan	46	46.88	46.88	48.16	-1.28	145	1
145	Malaysia	0	47.41	47.41	46.89	0.52	144	-1
146	Bangladesh	54.3	47.2	48.62	48.36	0.26	146	0
147	Mexico	69.5	43.77	48.91	48.97	-0.06	147	0
148	Russia	55.8	48.24	49.96	49.45	0.51	148	0
149	Tajikistan	30	50.06	50.06	50.27	-0.21	149	0
150	Ethiopia	65.4	46.07	50.17	50.34	-0.17	150	0
151	Singapore	0	50.95	50.95	51.1	-0.15	151	0
152	Swaziland	0	51.46	51.46	51.27	0.19	152	0
153	Brunei	0	51.48	51.48	53.72	-2.24	156	3
154	Democratic Republic of Congo	44.7	51.6	51.6	52.67	-1.07	154	0
155	Belarus	50.2	52.28	52.59	52.43	0.16	153	-2
156	Rwanda	13.9	52.9	52.9	54.11	-1.21	159	3
157	Turkey	63.7	50.96	53.5	52.98	0.52	155	-2
158	Kazakhstan	33	54.41	54.41	54.01	0.4	157	-1
159	Burundi	23	55.26	55.26	55.78	-0.52	160	1
160	Iraq	68	53.71	56.56	54.03	2.53	158	-2
161	Egypt	63.9	54.9	56.72	55.78	0.94	161	0
162	Libya	50.4	56.79	56.79	56.81	-0.02	163	1
163	Azerbaijan	59.6	57.81	59.73	56.4	3.33	162	-1
164	Iran	67.6	59	60.71	65.12	-4.41	165	1
165	Uzbekistan	68.3	58.65	60.84	66.11	-5.27	169	4
166	Bahrain	60.8	59.72	60.85	58.88	1.97	164	-2
167	Yemen	57.9	61.68	62.23	65.8	-3.57	166	-1
168	Somalia	60.9	61.5	63.04	65.95	-2.91	167	-1
169	Saudi Arabia	63.1	61.89	63.13	66.02	-2.89	168	-1
170	Laos	56	66.41	66.41	66.41	0	170	0
171	Equatorial Guinea	0	66.47	66.47	66.47	0	171	0
172	Cuba	35.6	68.9	68.9	71.75	-2.85	173	1
173	Djibouti	0	70.77	70.77	70.54	0.23	172	-1
174	Sudan	23	71.13	71.13	73.56	-2.43	174	0
175	Vietnam	66	75.05	75.05	73.96	1.09	175	0
176	China	81.7	76.5	78.29	77.66	0.63	176	0
177	Syria	81.6	77	79.22	81.49	-2.27	177	0
178	Turkmenistan	34.3	84.2	84.2	84.19	0.01	178	0
179	Eritrea	71.4	84.24	84.24	84.24	0	179	0
180	North Korea	51.9	88.87	88.87	84.98	3.89	180	0

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