2023 Index of Economic Freedom | Statista (2024)

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2023 Index of Economic Freedom | Statista? ›

#1 Singapore. Read More About SingaporeSingapore's economic freedom score is 83.9, making its economy the world's freest in the 2023 Index. Its score is about the same as last year.

#1 Singapore. Read More About SingaporeSingapore's economic freedom score is 83.9, making its economy the world's freest in the 2023 Index. Its score is about the same as last year.

* The Index of Economic Freedom measures the degree of economic freedom in a country on a scale from 0 to 100, based on four complex sets of indicators.

The U.S. maintained its global ranking of 25th freest in the 2023 Index after falling from 20th to 25th in 2022.

The first country to celebrate New Year's Eve annually is the Oceanic country Kiribati—the island of Kiritimati to be precise.

India Emerges As Fastest-Growing Economy Among Top 5

These widely varying figures are the real or inflation-adjusted gross domestic product (GDP) growth numbers of the world's top five economies during January–March 2023. The USA, the world's largest economy, grew 1.1 percent.

According to data published by London-based investment fintech Invezz, Japan, Greece, Italy, Portugal, and the US are the top five nations with the highest level of government debt.

Highest ranking in personal freedoms were Sweden (9.45) and the Netherlands (9.28). In 2020, United States has dropped to rank 17 according to The Human Freedom Index. The Freedom Index does not measure democracy, but it does measure freedom of speech and media, press killings, political imprisonment, etc.

What is the freest country to live in? ›

When looking at the data from the Human Freedom Index, Switzerland emerges as the freest country in the world with a score of 9.11. It is followed closely by New Zealand (9.01) and Denmark (8.98). These countries consistently rank highly in terms of personal, civil, and economic freedoms.

The United States' economic freedom score is 70.6, making its economy the 25th freest in the 2023 Index. Its score is 1.5 points lower than last year. The U.S. is ranked 3rd out of 32 countries in the Americas region, and its overall score remains above the world and regional averages.

Gross Domestic Product (GDP)

The report sets overall 2022 U.S. economic growth at 2.6%, which makes it pretty clear that the U.S. was not in a recession in 2022. However, Bill Adams, chief economist for Comerica Bank, believes that GDP will likely slow sharply in early 2023.

Capitalism is the dominant economic system in Western countries. In comparison, fewer countries use socialist economic systems. As of 2020, only Laos, China, Cuba, and Vietnam claimed to follow the principles of socialism as dictated by Marxist and Leninist theories.

In 2017, Center for International Development at Harvard University, published a research study, projecting that India has emerged as the economic pole of global growth by surpassing China and is expected to maintain its lead over the 2020s.

India is expected to overtake Germany in terms of GDP in 2025 and Japan in 2027 to become the third largest economy after the U.S. and China.

Major events for this 2023 calendar are the ICC Cricket ODI World Cup, the Women's FIFA World Cup, 3rd European Games, the World Urban Games, the inaugural Cycling World Championships, the Invictus Games, Rugby World Cup, World Aquatics Championships, Summer World University Games, the Asian Games, World Athletics ...

The uninhabited islands of Howland and Baker Islands will be the last places to welcome 2023. The island, near the United States, welcomes the New Year at 12 pm GMT (5:30 pm IST on January 1). So, the West still celebrates New Year while it is already evening in India.

What is the fastest growing country in the US? ›

BRICS is an acronym for Brazil, Russia, India, China, and South Africa, a group of five major emerging economies. These economies are recognized for their rapid economic growth and are home to nearly 40% of the world's population and over a quarter of its landmass.

Richest Country in 2050 will be United Kingdom

The United Kingdom's Gross Domestic Product in 2050 is estimated to be 3.58 trillion US dollars, with a per capita income of 49,412 US dollars. The present gap between the British economic wealth and Germany's economic wealth will contract significantly.

The forecasters predict annual-average over annual-average growth in real GDP of 1.3 percent in 2023, unrevised from their estimate of three months ago. The panelists are also maintaining their forecast for growth in the second quarter at an annual rate of 1.0 percent, unchanged compared with their previous projection.

Our projections imply that the world's five largest economies in 2050 (measured in real USD) will be China, the US, India, Indonesia, and Germany (with Indonesia displacing Brazil and Russia among the largest EMs).

As of January 2023, the five countries owning the most US debt are Japan ($1.1 trillion), China ($859 billion), the United Kingdom ($668 billion), Belgium ($331 billion), and Luxembourg ($318 billion).

The public includes foreign investors and foreign governments. These two groups account for 30 percent of the debt. Individual investors and banks represent 15 percent of the debt. The Federal Reserve is holding 12 percent of the treasuries issued.

The United States is the world's third-largest country by both land and total area. It shares land borders with Canada to its north and with Mexico to its south and has maritime borders with the Bahamas, Cuba, Russia, and other nations.

Which country has best human rights? ›

The Human Development Index (HDI) is calculated based on three main factors: life expectancy, education, and per capita income. In 2021, Switzerland was ranked first in the HDI, followed closely by Norway and Iceland. The HDI of a country ranges from 0 to 1, with 1 being the highest possible score.

Overall, in the calendar year 2022, the United States' Nominal GDP at Current Prices totaled at $25.463 Trillion, as compared to $23.315 Trillion in 2021. The three U.S. states with the highest GDPs were California ($3.6 Trillion), Texas ($2.356 Trillion), and New York ($2.053 Trillion).

2022 rankings

In the 2022 index, New Zealand is ranked most free overall, while North Korea is last. Hong Kong was ranked most free in economic liberty, while Norway was ranked most free in the social liberty category.

Highest ranking in personal freedoms were Sweden (9.45) and the Netherlands (9.28). In 2020, United States has dropped to rank 17 according to The Human Freedom Index.

By 2025, the United States would still be the most powerful country of the world, but it would have a little over 18% of the global power. The US would be closely followed by China (nearly 16%), European Union (14%) and India (10%).

What country is #1 in economic freedom? ›

Switzerland ranks first with a human freedom index of 9.11, followed closely by New Zealand at 9.01 and Denmark at 8.98. These countries consistently rank high in terms of personal and economic freedoms, demonstrating a strong commitment to individual rights and free market principles.

Average score: 8.98

Sweden ranks first in the 2021 Good Country Index, which measures a country's contribution to the common good based on various indicators such as international peace and security, prosperity and equality, and health and well-being.

The world's best country to live in is Sweden, as it ranked highest on the world report Quality of Life Index that measured attributes ranging from economic stability and progressivism to innovation and geographical attractions.

By issuing the Declaration of Independence, adopted by the Continental Congress on July 4, 1776, the 13 American colonies severed their political connections to Great Britain.

Ever since our brave forebearers declared America's independence, the United States has been a beacon of liberty, hope and opportunity. Indeed, America is still regarded the world over as a land where success can be achieved regardless of where you've come from.

A free state was a state in which slavery was either prohibited or being phased out. A slave state was one in which slavery was legal. Free states were generally located in the Union, and slave states were located in the Confederacy.

1. China. And, to one's surprise, China will be the most powerful economy in the world in 2050. But this did not take PwC to come up with this conclusion.

According to a recent report by Harvard University, “From economic complexity growth estimates, India is growing at the annual list at the rate of 7.9 percent as the fastest growing country for the coming decade.

What is the least economically free country? ›

Economic freedom, overall index - Country rankings

The average for 2022 based on 175 countries was 60 index points. The highest value was in Singapore: 84 index points and the lowest value was in North Korea: 3 index points. The indicator is available from 1995 to 2022.