Singapore: Business freedom

* indicates monthly or quarterly data series
 Singapore

Business freedom index (0-100)

 Latest value 87
 Year 2024
 Measure points
 Data availability 1995 - 2024
 Average 96
 Min - Max 83 - 100
 Source The Heritage Foundation
For that indicator, we provide data for Singapore from 1995 to 2024. The average value for Singapore during that period was 96 points with a minimum of 83 points in 2022 and a maximum of 100 points in 1995. The latest value from 2024 is 87 points. For comparison, the world average in 2024 based on 175 countries is 62 points. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent values chart
Singapore - Business freedom - Recent values chart

Historical chart
Singapore - Business freedom - historical chart - 1995-2024




The Business Freedom index for Singapore from The Heritage Foundation measures the ability to start, operate, and close a business. It reflects the overall burden of regulations and the efficiency of the government of Singapore in the regulatory process.
Definition: The Business freedom index is based on 10 indicators, using data from the World Bank’s Doing Business study: Starting a business-procedures (number), time (days), cost (% of income per capita), and minimum capital (% of income per capita); Obtaining a license—procedures (number), time (days), and cost (% of income per capita); Closing a business—time (years), cost (% of estate), and recovery rate (cents on the dollar).


 Related indicators Latest value Reference Measure
 Property rights 94 2024 points
 Freedom from corruption 88 2024 points
 Fiscal freedom 76 2024 points
 Business freedom 87 2024 points
 Labor freedom 77 2024 points
 Monetary freedom 76.30 2024 points
 Trade freedom 95 2024 points
 Investment freedom 90 2024 points
 Financial freedom 80 2024 points
 Economic freedom, overall index 84 2024 index points
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