For twenty-seven years the Index has delivered thoughtful analysis in a clear, friendly, and straight-forward format. With new resources for users and a website tailored for research and education, the Index of Economic Freedom is poised to help readers track over two decades of the advancement in economic freedom, prosperity, and opportunity and promote these ideas in their homes, schools, and communities.
The Index covers 12 freedoms – from property rights to financial freedom – in 184 countries for the period of July 2019 to June 2020.
Top Ranked Countries
- Rank 1: Singapore
- Rank 2: New Zealand
- Rank 3: Australia
- Rank 4: Switzerland
- Rank 5: Ireland
Sri Lanka’s economic freedom score is 55.7, making its economy the 131st freest in the 2021 Index. Its overall score has decreased by 1.7 points, primarily because of a decline in trade freedom. Sri Lanka is ranked 28th among 40 countries in the Asia–Pacific region, and its overall score is below the regional and world averages.
Sri Lanka’s economy remained in the mostly unfree ranks this year. Seven of Sri Lanka’s 12 Index indicators are in the repressed category. To achieve greater economic freedom, the government would need to implement deep, broad, and well-institutionalized reforms to raise very low scores for property rights, judicial effectiveness, and government integrity. Debt reduction would also be required.
Impact of Pandemic: As of December 1, 2020, 122 deaths had been attributed to the pandemic in Sri Lanka, and the economy was forecast to contract by 4.6 percent for the year.
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