Financial freedom - Country rankings
* indicates monthly or quarterly data series
Financial freedom index (0-100), 2025:
The average for 2025 based on 175 countries was 48 points. The highest value was in Australia: 80 points and the lowest value was in North Korea: 0 points. The indicator is available from 1995 to 2025. 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, 2025 | Global rank | Available data |
|---|---|---|---|
| Australia | 80 | 1 | 1995 - 2025 |
| Bahrain | 80 | 2 | 1995 - 2025 |
| Czechia | 80 | 3 | 1995 - 2025 |
| Denmark | 80 | 4 | 1996 - 2025 |
| Finland | 80 | 5 | 1996 - 2025 |
| Liechtenstein | 80 | 6 | 2013 - 2025 |
| Luxembourg | 80 | 7 | 1996 - 2025 |
| Netherlands | 80 | 8 | 1996 - 2025 |
| New Zealand | 80 | 9 | 1996 - 2025 |
| Singapore | 80 | 10 | 1995 - 2025 |
| Sweden | 80 | 11 | 1995 - 2025 |
| Switzerland | 80 | 12 | 1996 - 2025 |
| UK | 80 | 13 | 1995 - 2025 |
| USA | 80 | 14 | 1995 - 2025 |
| Morocco | 75 | 15 | 1995 - 2025 |
| Austria | 70 | 16 | 1995 - 2025 |
| Belgium | 70 | 17 | 1996 - 2025 |
| Canada | 70 | 18 | 1995 - 2025 |
| Chile | 70 | 19 | 1995 - 2025 |
| Estonia | 70 | 20 | 1995 - 2025 |
| France | 70 | 21 | 1995 - 2025 |
| Germany | 70 | 22 | 1995 - 2025 |
| Hungary | 70 | 23 | 1995 - 2025 |
| Iceland | 70 | 24 | 1997 - 2025 |
| Ireland | 70 | 25 | 1995 - 2025 |
| Israel | 70 | 26 | 1995 - 2025 |
| Lithuania | 70 | 27 | 1996 - 2025 |
| Mauritius | 70 | 28 | 1999 - 2025 |
| Poland | 70 | 29 | 1995 - 2025 |
| Slovakia | 70 | 30 | 1995 - 2025 |
| Albania | 60 | 31 | 1995 - 2025 |
| Argentina | 60 | 32 | 1995 - 2025 |
| Armenia | 60 | 33 | 1996 - 2025 |
| Azerbaijan | 60 | 34 | 1996 - 2025 |
| Bahamas | 60 | 35 | 1995 - 2025 |
| Barbados | 60 | 36 | 1996 - 2025 |
| Bosnia & Herz. | 60 | 37 | 1998 - 2025 |
| Botswana | 60 | 38 | 1995 - 2025 |
| Cape Verde | 60 | 39 | 1996 - 2025 |
| Colombia | 60 | 40 | 1995 - 2025 |
| Croatia | 60 | 41 | 1996 - 2025 |
| Cyprus | 60 | 42 | 1996 - 2025 |
| El Salvador | 60 | 43 | 1995 - 2025 |
| Georgia | 60 | 44 | 1996 - 2025 |
| Ghana | 60 | 45 | 1995 - 2025 |
| Honduras | 60 | 46 | 1995 - 2025 |
| Indonesia | 60 | 47 | 1995 - 2025 |
| Italy | 60 | 48 | 1995 - 2025 |
| Japan | 60 | 49 | 1995 - 2025 |
| Jordan | 60 | 50 | 1995 - 2025 |
| Latvia | 60 | 51 | 1996 - 2025 |
| Mexico | 60 | 52 | 1995 - 2025 |
| North Macedonia | 60 | 53 | 2002 - 2025 |
| Norway | 60 | 54 | 1996 - 2025 |
| Oman | 60 | 55 | 1995 - 2025 |
| Panama | 60 | 56 | 1995 - 2025 |
| Paraguay | 60 | 57 | 1995 - 2025 |
| Peru | 60 | 58 | 1995 - 2025 |
| Philippines | 60 | 59 | 1995 - 2025 |
| Portugal | 60 | 60 | 1995 - 2025 |
| Qatar | 60 | 61 | 1999 - 2025 |
| South Korea | 60 | 62 | 1995 - 2025 |
| Spain | 60 | 63 | 1995 - 2025 |
| Taiwan | 60 | 64 | 1995 - 2025 |
| Thailand | 60 | 65 | 1995 - 2025 |
| Turkey | 60 | 66 | 1995 - 2025 |
| UA Emirates | 60 | 67 | 1996 - 2025 |
| Uzbekistan | 60 | 68 | 1998 - 2025 |
| Belize | 50 | 69 | 1995 - 2025 |
| Benin | 50 | 70 | 1996 - 2025 |
| Brunei | 50 | 71 | 2014 - 2025 |
| Bulgaria | 50 | 72 | 1995 - 2025 |
| Cambodia | 50 | 73 | 1997 - 2025 |
| Cameroon | 50 | 74 | 1995 - 2025 |
| Djibouti | 50 | 75 | 1997 - 2025 |
| Egypt | 50 | 76 | 1995 - 2025 |
| Fiji | 50 | 77 | 1995 - 2025 |
| Gambia | 50 | 78 | 1997 - 2025 |
| Greece | 50 | 79 | 1995 - 2025 |
| Guatemala | 50 | 80 | 1995 - 2025 |
| Ivory Coast | 50 | 81 | 1995 - 2025 |
| Jamaica | 50 | 82 | 1995 - 2025 |
| Kazakhstan | 50 | 83 | 1998 - 2025 |
| Kenya | 50 | 84 | 1995 - 2025 |
| Kuwait | 50 | 85 | 1996 - 2025 |
| Kyrgyzstan | 50 | 86 | 1998 - 2025 |
| Madagascar | 50 | 87 | 1995 - 2025 |
| Malawi | 50 | 88 | 1995 - 2025 |
| Malaysia | 50 | 89 | 1995 - 2025 |
| Malta | 50 | 90 | 1995 - 2025 |
| Moldova | 50 | 91 | 1995 - 2025 |
| Mongolia | 50 | 92 | 1995 - 2025 |
| Montenegro | 50 | 93 | 2002 - 2025 |
| Nicaragua | 50 | 94 | 1995 - 2025 |
| Romania | 50 | 95 | 1995 - 2025 |
| Saudi Arabia | 50 | 96 | 1996 - 2025 |
| Serbia | 50 | 97 | 2002 - 2025 |
| Slovenia | 50 | 98 | 1996 - 2025 |
| Tanzania | 50 | 99 | 1995 - 2025 |
| Vietnam | 50 | 100 | 1995 - 2025 |
| Zambia | 50 | 101 | 1995 - 2025 |
| Angola | 40 | 102 | 1995 - 2025 |
| Bangladesh | 40 | 103 | 1995 - 2025 |
| Bolivia | 40 | 104 | 1995 - 2025 |
| Brazil | 40 | 105 | 1995 - 2025 |
| Burkina Faso | 40 | 106 | 1996 - 2025 |
| Chad | 40 | 107 | 1997 - 2025 |
| Costa Rica | 40 | 108 | 1995 - 2025 |
| Dominica | 40 | 109 | 2009 - 2025 |
| Domin. Rep. | 40 | 110 | 1995 - 2025 |
| Ecuador | 40 | 111 | 1995 - 2025 |
| Gabon | 40 | 112 | 1995 - 2025 |
| Guinea | 40 | 113 | 1995 - 2025 |
| India | 40 | 114 | 1995 - 2025 |
| Lesotho | 40 | 115 | 1996 - 2025 |
| Mali | 40 | 116 | 1995 - 2025 |
| Mauritania | 40 | 117 | 1996 - 2025 |
| Mozambique | 40 | 118 | 1995 - 2025 |
| Namibia | 40 | 119 | 1997 - 2025 |
| Niger | 40 | 120 | 1996 - 2025 |
| Nigeria | 40 | 121 | 1995 - 2025 |
| Pakistan | 40 | 122 | 1995 - 2025 |
| Rwanda | 40 | 123 | 1997 - 2025 |
| Saint Lucia | 40 | 124 | 2009 - 2025 |
| St. Vincent & ... | 40 | 125 | 2009 - 2025 |
| Senegal | 40 | 126 | 1996 - 2025 |
| South Africa | 40 | 127 | 1995 - 2025 |
| Swaziland | 40 | 128 | 1995 - 2025 |
| Togo | 40 | 129 | 1999 - 2025 |
| Tr.&Tobago | 40 | 130 | 1996 - 2025 |
| Uganda | 40 | 131 | 1995 - 2025 |
| Vanuatu | 40 | 132 | 2009 - 2025 |
| Bhutan | 30 | 133 | 2009 - 2025 |
| Burundi | 30 | 134 | 1997 - 2025 |
| C.A. Republic | 30 | 135 | 2002 - 2025 |
| Comoros | 30 | 136 | 2009 - 2025 |
| Eq. Guinea | 30 | 137 | 1999 - 2025 |
| G.-Bissau | 30 | 138 | 1999 - 2025 |
| Guyana | 30 | 139 | 1995 - 2025 |
| Kiribati | 30 | 140 | 2009 - 2025 |
| Maldives | 30 | 141 | 2009 - 2025 |
| Micronesia | 30 | 142 | 2009 - 2025 |
| Nepal | 30 | 143 | 1996 - 2025 |
| Papua N.G. | 30 | 144 | 1996 - 2025 |
| R. of Congo | 30 | 145 | 1996 - 2025 |
| Russia | 30 | 146 | 1995 - 2025 |
| Samoa | 30 | 147 | 1996 - 2025 |
| S.T.&Principe | 30 | 148 | 2009 - 2025 |
| Seychelles | 30 | 149 | 2009 - 2025 |
| Solomon Isl. | 30 | 150 | 2009 - 2025 |
| Sri Lanka | 30 | 151 | 1995 - 2025 |
| Tajikistan | 30 | 152 | 1998 - 2025 |
| Tunisia | 30 | 153 | 1995 - 2025 |
| Uruguay | 30 | 154 | 1995 - 2025 |
| Algeria | 20 | 155 | 1995 - 2025 |
| Belarus | 20 | 156 | 1995 - 2025 |
| Burma | 20 | 157 | 1996 - 2025 |
| China | 20 | 158 | 1995 - 2025 |
| DR Congo | 20 | 159 | 1995 - 2025 |
| Eritrea | 20 | 160 | 2009 - 2025 |
| Ethiopia | 20 | 161 | 1995 - 2025 |
| Haiti | 20 | 162 | 1995 - 2025 |
| Laos | 20 | 163 | 1996 - 2025 |
| Lebanon | 20 | 164 | 1996 - 2025 |
| Liberia | 20 | 165 | 2009 - 2025 |
| Sierra Leone | 20 | 166 | 1995 - 2025 |
| Sudan | 20 | 167 | 1995 - 2025 |
| Suriname | 20 | 168 | 1996 - 2025 |
| Tonga | 20 | 169 | 2009 - 2025 |
| Cuba | 10 | 170 | 1995 - 2025 |
| Iran | 10 | 171 | 1996 - 2025 |
| Turkmenistan | 10 | 172 | 1998 - 2025 |
| Venezuela | 10 | 173 | 1995 - 2025 |
| Zimbabwe | 10 | 174 | 1995 - 2025 |
| North Korea | 0 | 175 | 1995 - 2025 |
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.
Selected articles from our guide:
Are trade deficits bad for the economy?
Sources of economic growth
Currency values and investment returns
How to write an economics research paper
All articles
80
80
80
80
80
80
80
80
80
80
80
80
80
80
75
70
70
70
70
70
70
70
70
70
70
70
70
70
70
70
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
40
40
40
40
40
40
40
40
40
40
40
40
40
40
40
40
40
40
40
40
40
40
40
40
40
40
40
40
40
40
40
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
10
10
10
10
10
0
0
20
40
60
80
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