The index published in Economic Freedom of the World measures the degree to which the policies and institutions of countries are supportive of economic freedom. The cornerstones of economic freedom are personal choice, voluntary exchange, freedom to enter markets and compete, and security of the person and privately owned property. Forty-two data points are used to construct a summary index, along with a Gender Legal Rights Adjustment to measure the extent to which women have the same level of economic freedom as men.
In this year’s report, which compares 165 countries and territories, Hong Kong is again number one—although China’s heavy hand will likely lower Hong Kong’s ranking in future years—and Canada (14th) trails the United States (6th). Armenia ranked 15th, occupying the best position among the EAEU countries.