Economic Freedom Index: best 20 countries for freedom to trade worldwide 2021

Published by
Einar H. Dyvik,
Jul 4, 2024
In 2021, Hong Kong had the highest degree of freedom to trade internationally with a score of 9.04 out of 10. In addition, Singapore followed closely behind with a score of 8.94, and Ireland came next with a score of 8.86, making it the highest scoring country in Europe.

Best 20 countries for freedom to trade worldwide in 2021

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Release date

September 2023

Region

Worldwide

Survey time period

2021

Supplementary notes

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.

The freedom to trade internationally section of the index includes; revenue from trade taxes, mean tariff rates, tariff, non-tariff trade barriers, compliance costs of importing and exporting, regulatory trade barriers, black market exchange rates, foreign ownership/investment restrictions, capital controls, and freedom of foreigners to visit.

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