Financial freedom - Country rankings
* indicates monthly or quarterly data series
Financial freedom index (0-100), 2023:
The average for 2023 based on 175 countries was 49 points. The highest value was in Australia: 90 points and the lowest value was in North Korea: 0 points. The indicator is available from 1995 to 2024. Below is a chart for all countries where data are available.Measure: points; Source: The Heritage Foundation
Select indicator
* indicates monthly or quarterly data series
| Countries | Financial freedom, 2023 | Global rank | Available data |
|---|---|---|---|
| Australia | 90 | 1 | 1995 - 2024 |
| Switzerland | 90 | 2 | 1996 - 2024 |
| Bahrain | 80 | 3 | 1995 - 2024 |
| Canada | 80 | 4 | 1995 - 2024 |
| Czechia | 80 | 5 | 1995 - 2024 |
| Denmark | 80 | 6 | 1996 - 2024 |
| Finland | 80 | 7 | 1996 - 2024 |
| Georgia | 80 | 8 | 1996 - 2024 |
| Liechtenstein | 80 | 9 | 2013 - 2024 |
| Luxembourg | 80 | 10 | 1996 - 2024 |
| Netherlands | 80 | 11 | 1996 - 2024 |
| New Zealand | 80 | 12 | 1996 - 2024 |
| Singapore | 80 | 13 | 1995 - 2024 |
| Sweden | 80 | 14 | 1995 - 2024 |
| UK | 80 | 15 | 1995 - 2024 |
| USA | 80 | 16 | 1995 - 2024 |
| Albania | 70 | 17 | 1995 - 2024 |
| Armenia | 70 | 18 | 1996 - 2024 |
| Austria | 70 | 19 | 1995 - 2024 |
| Belgium | 70 | 20 | 1996 - 2024 |
| Botswana | 70 | 21 | 1995 - 2024 |
| Chile | 70 | 22 | 1995 - 2024 |
| Colombia | 70 | 23 | 1995 - 2024 |
| Estonia | 70 | 24 | 1995 - 2024 |
| France | 70 | 25 | 1995 - 2024 |
| Germany | 70 | 26 | 1995 - 2024 |
| Hungary | 70 | 27 | 1995 - 2024 |
| Iceland | 70 | 28 | 1997 - 2024 |
| Ireland | 70 | 29 | 1995 - 2024 |
| Israel | 70 | 30 | 1995 - 2024 |
| Lithuania | 70 | 31 | 1996 - 2024 |
| Mauritius | 70 | 32 | 1999 - 2024 |
| Morocco | 70 | 33 | 1995 - 2024 |
| Panama | 70 | 34 | 1995 - 2024 |
| Poland | 70 | 35 | 1995 - 2024 |
| Slovakia | 70 | 36 | 1995 - 2024 |
| Spain | 70 | 37 | 1995 - 2024 |
| Argentina | 60 | 38 | 1995 - 2024 |
| Azerbaijan | 60 | 39 | 1996 - 2024 |
| Bahamas | 60 | 40 | 1995 - 2024 |
| Barbados | 60 | 41 | 1996 - 2024 |
| Bosnia & Herz. | 60 | 42 | 1998 - 2024 |
| Bulgaria | 60 | 43 | 1995 - 2024 |
| Cape Verde | 60 | 44 | 1996 - 2024 |
| Croatia | 60 | 45 | 1996 - 2024 |
| Cyprus | 60 | 46 | 1996 - 2024 |
| El Salvador | 60 | 47 | 1995 - 2024 |
| Ghana | 60 | 48 | 1995 - 2024 |
| Honduras | 60 | 49 | 1995 - 2024 |
| Indonesia | 60 | 50 | 1995 - 2024 |
| Japan | 60 | 51 | 1995 - 2024 |
| Jordan | 60 | 52 | 1995 - 2024 |
| Kuwait | 60 | 53 | 1996 - 2024 |
| Latvia | 60 | 54 | 1996 - 2024 |
| Mexico | 60 | 55 | 1995 - 2024 |
| North Macedonia | 60 | 56 | 2002 - 2024 |
| Norway | 60 | 57 | 1996 - 2024 |
| Oman | 60 | 58 | 1995 - 2024 |
| Paraguay | 60 | 59 | 1995 - 2024 |
| Peru | 60 | 60 | 1995 - 2024 |
| Philippines | 60 | 61 | 1995 - 2024 |
| Portugal | 60 | 62 | 1995 - 2024 |
| Qatar | 60 | 63 | 1999 - 2024 |
| South Korea | 60 | 64 | 1995 - 2024 |
| Taiwan | 60 | 65 | 1995 - 2024 |
| Thailand | 60 | 66 | 1995 - 2024 |
| Turkey | 60 | 67 | 1995 - 2024 |
| UA Emirates | 60 | 68 | 1996 - 2024 |
| Belize | 50 | 69 | 1995 - 2024 |
| Benin | 50 | 70 | 1996 - 2024 |
| Brazil | 50 | 71 | 1995 - 2024 |
| Brunei | 50 | 72 | 2014 - 2024 |
| Cambodia | 50 | 73 | 1997 - 2024 |
| Cameroon | 50 | 74 | 1995 - 2024 |
| Costa Rica | 50 | 75 | 1995 - 2024 |
| Djibouti | 50 | 76 | 1997 - 2024 |
| Egypt | 50 | 77 | 1995 - 2024 |
| Fiji | 50 | 78 | 1995 - 2024 |
| Gambia | 50 | 79 | 1997 - 2024 |
| Greece | 50 | 80 | 1995 - 2024 |
| Guatemala | 50 | 81 | 1995 - 2024 |
| Italy | 50 | 82 | 1995 - 2024 |
| Ivory Coast | 50 | 83 | 1995 - 2024 |
| Jamaica | 50 | 84 | 1995 - 2024 |
| Kazakhstan | 50 | 85 | 1998 - 2024 |
| Kenya | 50 | 86 | 1995 - 2024 |
| Kyrgyzstan | 50 | 87 | 1998 - 2024 |
| Madagascar | 50 | 88 | 1995 - 2024 |
| Malawi | 50 | 89 | 1995 - 2024 |
| Malaysia | 50 | 90 | 1995 - 2024 |
| Malta | 50 | 91 | 1995 - 2024 |
| Moldova | 50 | 92 | 1995 - 2024 |
| Mongolia | 50 | 93 | 1995 - 2024 |
| Montenegro | 50 | 94 | 2002 - 2024 |
| Mozambique | 50 | 95 | 1995 - 2024 |
| Nicaragua | 50 | 96 | 1995 - 2024 |
| Romania | 50 | 97 | 1995 - 2024 |
| Saudi Arabia | 50 | 98 | 1996 - 2024 |
| Serbia | 50 | 99 | 2002 - 2024 |
| Slovenia | 50 | 100 | 1996 - 2024 |
| South Africa | 50 | 101 | 1995 - 2024 |
| Tanzania | 50 | 102 | 1995 - 2024 |
| Tr.&Tobago | 50 | 103 | 1996 - 2024 |
| Uzbekistan | 50 | 104 | 1998 - 2024 |
| Vietnam | 50 | 105 | 1995 - 2024 |
| Zambia | 50 | 106 | 1995 - 2024 |
| Angola | 40 | 107 | 1995 - 2024 |
| Bangladesh | 40 | 108 | 1995 - 2024 |
| Bolivia | 40 | 109 | 1995 - 2024 |
| Burkina Faso | 40 | 110 | 1996 - 2024 |
| Chad | 40 | 111 | 1997 - 2024 |
| Dominica | 40 | 112 | 2009 - 2024 |
| Domin. Rep. | 40 | 113 | 1995 - 2024 |
| Ecuador | 40 | 114 | 1995 - 2024 |
| Gabon | 40 | 115 | 1995 - 2024 |
| Guinea | 40 | 116 | 1995 - 2024 |
| India | 40 | 117 | 1995 - 2024 |
| Lesotho | 40 | 118 | 1996 - 2024 |
| Mali | 40 | 119 | 1995 - 2024 |
| Mauritania | 40 | 120 | 1996 - 2024 |
| Namibia | 40 | 121 | 1997 - 2024 |
| Niger | 40 | 122 | 1996 - 2024 |
| Nigeria | 40 | 123 | 1995 - 2024 |
| Pakistan | 40 | 124 | 1995 - 2024 |
| Rwanda | 40 | 125 | 1997 - 2024 |
| Saint Lucia | 40 | 126 | 2009 - 2024 |
| St. Vincent & ... | 40 | 127 | 2009 - 2024 |
| Senegal | 40 | 128 | 1996 - 2024 |
| Swaziland | 40 | 129 | 1995 - 2024 |
| Uganda | 40 | 130 | 1995 - 2024 |
| Vanuatu | 40 | 131 | 2009 - 2024 |
| Algeria | 30 | 132 | 1995 - 2024 |
| Bhutan | 30 | 133 | 2009 - 2024 |
| Burundi | 30 | 134 | 1997 - 2024 |
| C.A. Republic | 30 | 135 | 2002 - 2024 |
| Comoros | 30 | 136 | 2009 - 2024 |
| Eq. Guinea | 30 | 137 | 1999 - 2024 |
| G.-Bissau | 30 | 138 | 1999 - 2024 |
| Guyana | 30 | 139 | 1995 - 2024 |
| Haiti | 30 | 140 | 1995 - 2024 |
| Kiribati | 30 | 141 | 2009 - 2024 |
| Lebanon | 30 | 142 | 1996 - 2024 |
| Maldives | 30 | 143 | 2009 - 2024 |
| Micronesia | 30 | 144 | 2009 - 2024 |
| Nepal | 30 | 145 | 1996 - 2024 |
| Papua N.G. | 30 | 146 | 1996 - 2024 |
| R. of Congo | 30 | 147 | 1996 - 2024 |
| Russia | 30 | 148 | 1995 - 2024 |
| Samoa | 30 | 149 | 1996 - 2024 |
| S.T.&Principe | 30 | 150 | 2009 - 2024 |
| Seychelles | 30 | 151 | 2009 - 2024 |
| Solomon Isl. | 30 | 152 | 2009 - 2024 |
| Sri Lanka | 30 | 153 | 1995 - 2024 |
| Suriname | 30 | 154 | 1996 - 2024 |
| Tajikistan | 30 | 155 | 1998 - 2024 |
| Togo | 30 | 156 | 1999 - 2024 |
| Tunisia | 30 | 157 | 1995 - 2024 |
| Uruguay | 30 | 158 | 1995 - 2024 |
| Belarus | 20 | 159 | 1995 - 2024 |
| Burma | 20 | 160 | 1996 - 2024 |
| China | 20 | 161 | 1995 - 2024 |
| DR Congo | 20 | 162 | 1995 - 2024 |
| Eritrea | 20 | 163 | 2009 - 2024 |
| Ethiopia | 20 | 164 | 1995 - 2024 |
| Laos | 20 | 165 | 1996 - 2024 |
| Liberia | 20 | 166 | 2009 - 2024 |
| Sierra Leone | 20 | 167 | 1995 - 2024 |
| Sudan | 20 | 168 | 1995 - 2024 |
| Tonga | 20 | 169 | 2009 - 2024 |
| Cuba | 10 | 170 | 1995 - 2024 |
| Iran | 10 | 171 | 1996 - 2024 |
| Turkmenistan | 10 | 172 | 1998 - 2024 |
| Venezuela | 10 | 173 | 1995 - 2024 |
| Zimbabwe | 10 | 174 | 1995 - 2024 |
| North Korea | 0 | 175 | 1995 - 2024 |
Definition: The Financial freedom index evaluates: the extent of government regulation of financial services, the degree of state intervention in banks and other financial firms through direct and indirect ownership, the extent of financial and capital market development, government influence on the allocation of credit and openness to foreign competition. Higher index values denote banking efficiency and independence from government control and interference in the financial sector.
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All articles
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22.5
45
67.5
90
Financial freedom in Europe Financial freedom in Asia Financial freedom in Africa Financial freedom in North America Financial freedom in South America Financial freedom in Australia/Oceania Financial freedom in the European union Financial freedom in Sub Sahara Africa Financial freedom in MENA Financial freedom in South East Asia Financial freedom in Latin America