Capitalist Countries 2025

Economic Freedom Index

Top ↓

Last ↑

Economic Freedom Index

1	Singapore	89.7
2	New Zealand	83.9
3	Australia	82.4
4	Switzerland	81.9
5	Ireland	81.4
6	Taiwan	78.6
7	United Kingdom	78.4
8	Estonia	78.2
9	Canada	77.9
10	Denmark	77.8
11	Iceland	77.4
12	Georgia	77.2
13	Mauritius	77.0
14	United Arab Emirates	76.9
14	Lithuania	76.9
16	Netherlands	76.8
17	Finland	76.1
18	Luxembourg	76.0
19	Chile	75.2
20	United States	74.8
21	Sweden	74.7
22	Malaysia	74.4
23	Japan	74.1
24	South Korea	74.0
25	Austria	73.9
26	Czech Republic	73.8
26	Israel	73.8
28	Norway	73.4
29	Germany	72.5
30	Latvia	72.3
31	Qatar	72.0
32	Armenia	71.9
33	Cyprus	71.4
34	Kazakhstan	71.1
35	Bulgaria	70.4
36	Malta	70.2
37	Belgium	70.1
37	Azerbaijan	70.1
39	Spain	69.9
39	Bahrain	69.9
41	Thailand	69.7
41	Poland	69.7
43	Romania	69.5
44	Uruguay	69.3
45	Jamaica	69.0
46	North Macedonia	68.6
47	Slovenia	68.3
47	Rwanda	68.3
49	Colombia	68.1
50	Peru	67.7
51	Botswana	67.6
52	Portugal	67.5
53	Serbia	67.2
53	Hungary	67.2
55	Indonesia	66.9
56	Slovakia	66.3
56	Seychelles	66.3
58	Panama	66.2
59	Saudi Arabia	66.0
60	France	65.7
61	Mexico	65.5
62	Albania	65.2
63	Barbados	65.0
64	Italy	64.9
65	Oman	64.6
65	Bahamas	64.6
65	Jordan	64.6
68	Costa Rica	64.2
69	Kuwait	64.1
69	Philippines	64.1
71	Turkey	64.0
71	Guatemala	64.0
73	Kyrgyzstan	63.7
74	Croatia	63.6
75	Montenegro	63.4
76	Morocco	63.3
77	Bosnia and Herzegovina	62.9
78	Paraguay	62.6
78	Namibia	62.6
80	Moldova	62.5
81	Mongolia	62.4
82	Fiji	62.2
83	Dominican Republic	62.1
84	Vietnam	61.7
84	Ivory Coast	61.7
86	Russia	61.5
87	Tanzania	61.3
88	El Salvador	61.0
88	Belarus	61.0
90	Greece	60.9
91	Honduras	59.8
92	South Africa	59.7
93	Benin	59.6
94	Ghana	59.2
95	Trinidad and Tobago	59.0
96	Papua New Guinea	58.9
97	Nigeria	58.7
98	Uganda	58.6
99	China	58.4
100	Bhutan	58.3
101	Gabon	58.1
102	Senegal	58.0
103	Madagascar	57.7
104	Belize	57.5
104	Togo	57.5
106	Guyana	57.4
107	Cambodia	57.3
108	Tunisia	56.6
109	Burkina Faso	56.5
109	Guinea	56.5
109	India	56.5
112	Nicaragua	56.3
113	Ukraine	56.2
114	Mauritania	56.1
115	Egypt	55.7
115	Sri Lanka	55.7
117	Mali	55.6
118	Tajikistan	55.2
119	Eswatini	55.1
120	Kenya	54.9
120	Guinea Bissau	54.9
122	Angola	54.2
123	Laos	53.9
124	Lesotho	53.5
125	Cameroon	53.4
125	Brazil	53.4
127	Malawi	53.0
128	Argentina	52.7
129	Ecuador	52.4
130	Pakistan	51.7
130	Sierra Leone	51.7
130	Ethiopia	51.7
133	Mozambique	51.6
134	Lebanon	51.4
135	Haiti	50.8
136	Nepal	50.7
137	Zambia	50.4
137	Chad	50.4
139	Burundi	49.9
140	Algeria	49.7
141	Liberia	49.2
142	DR Congo	49.0
143	Central African Republic	48.8
144	Iran	47.2
145	Suriname	46.4
146	Timor Leste	44.7
147	Bolivia	42.7
148	Zimbabwe	39.5
149	Sudan	39.1
150	Venezuela	24.7

↑

Interactive Map
Introduction
Most Capitalist Countries

Capitalism around the Globe

The economics of capitalism, marked by private ownership and the freedom to trade, provides the structural backbone of the world's most productive economies. The capitalist model, shaped by the principles of voluntary exchange, competitive markets, private property rights, and the profit motive, has the potential to spur economic growth, innovation, and higher living standards – when appropriately balanced with regulation and social safety nets. The "Index of Economic Freedom", published by The Heritage Foundation, categorizes countries based on their degree of economic freedom measured across four broad dimensions: Rule of Law, Government Size, Regulatory Efficiency, and Open Markets. It is a useful barometer to grasp the extent of capitalism in various nations. Key findings from the data include:

Topping the list, Singapore ranked as the 'most capitalist' country with an impressive score of 89.7, leading on the strength of its regulatory efficiency and open markets.
The United States registered a score of 74.8, placing it 20th in the list. The U.S., a trailblazer in the global adoption of capitalism, experiences challenges in areas such as fiscal health and government spending.
Countries with advanced economies like New Zealand, Australia, Switzerland, and Ireland closely follow Singapore, scoring high on various dimensions of economic freedom.
It's noteworthy that smaller economies such as Estonia, Mauritius, and Georgia also score high, indicating efficient regulatory practices, and policy implementations favourable to economic freedom.
Conversely, Venezuela, with a score of 24.7 found its place at the end of the list, submerged under authoritarian regime, violated property rights, and collapsed markets. This data provides valuable insights, indicating that the degree of capitalism varies widely around the globe, shaped by a myriad of political, cultural, and social factors. At the same time, it reminds us that capitalism - when accompanied by robust institutions and regulations - can offer a powerful platform for national prosperity and individual wellbeing.

Most Capitalist Countries

The Index of Economic Freedom serves as a crucial barometer for assessing the extent of capitalist principles in practice across various countries. Singapore, renowned for its market-driven economy, leads with a top score of 89.7, embodying the essence of capitalist dynamics. New Zealand follows, reflecting its robust capitalist framework with an impressive score of 83.9. Australia and Switzerland, both with scores of 82.4 and 81.9, are exemplary in their commitment to capitalist principles. Ireland, with a score of 81.4, and Canada, scoring 77.9, further exemplify strong capitalist orientations. The United Kingdom and Estonia, with scores of 78.4 and 78.2, showcase their market-driven economic policies. Taiwan and Germany, rounding off the top list with scores of 78.6 and 72.5, also stand as strong representatives of capitalist economies. Top 10 Nations by Capitalist Orientation Based on Economic Freedom: