Thursday 24th September 2020

Nepal Climbs One Position to 109 Rank in Economic Freedom Index

Nepal ranked 110 in 2019 with a 6.49 score and 102 in 2018 with a 6.53 score.
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Nepal Climbs One Position to 109 Rank in Economic Freedom Index

Nepal has stood in the 109th position with a score of 6.48 among the 162 countries and territories included in the “Economic Freedom of the World: 2020 Annual Report.”

According to the report released on September 10 by Samriddhi Foundation in conjunction with Canada’s Fraser Institute, Nepal has climbed one position from 2019 to 2020. Last year, Nepal ranked 110th with a score of 6.49 while it had ranked 102nd in 2018 with a 6.53 score.

The score is the measurement of economic freedom based on five areas: the size of government, access to sound money, legal structure and property rights, freedom to trade internationally, and regulation of credit, labor, and business.

Economic Freedom of the World 2020

The higher score indicates a higher value of economic freedom in the country.

Nepal’s Area Economic Freedom Scores:

Areas Global ranking 2020(Score) 2019(Score)
Size of government 63 6.92 7.22
Legal systems and property rights 104 4.64 4.54
Access to sound money 137 6.81 6.69
Freedom to trade internationally 111 6.59 6.63
Regulation of credit, labor, and business 71 7.36 7.24

The top 10 highest rated countries:

Countries Global rank Score
Hong Kong 1 8.94
Singapore 2 8.65
New Zealand 3 8.53
Switzerland 4 8.43
Australia 5 8.23
USA 6 8.22
Mauritius 7 8.21
Georgia 8 8.18
Canada 9 8.17
Ireland 10 8.13

Other significant rankings include Japan (20), Germany (21), Italy (51), France (58), Mexico (68), Russia (89), India (105), Brazil (105), and China (124).


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