2010 Economic Freedom Ranking
Chile ranks as the 10th most open economy in the world
The country continues to lead Latin America and is at the same level as the United States, offering excellent development perspectives for national and foreign investors.
Monday, February 01, 2010
The country continues to be the Latin American leader in the area
Chile continues to be one of the top 10
economies in the world in terms of economic freedom, according to the 2010 Economic Freedom
Indicator prepared by the Heritage Foundation
together with the Wall Street Journal and a network of research centers, including
Chile’s Libertad y Desarrollo foundation.
Even though it scored slightly under the previous
measurement in 2009, the Chilean economy totals 77.2 points, ranking it in an
excellent 10th place out of 179 countries after an evaluation of 10 economic
behavior categories. In this way, the
country continues to be the Latin American leader in the area, followed by
Uruguay and El Salvador.
Specifically, the result catalogues Chile
as an “almost free economy,” a category that ranges from 70 to 79.9 points. The
country obtains its best results in Size
of the State Sector (89.6 points), Freedom of International trade (88 points)
and Property Rights (85 points). It is worth noting that the country has 20 trade agreements signed with 56
countries from all over the world.
The result is not as optimal in Commercial
Freedom, in which it received a score of 64.8 points, and in Freedom Against
Corruption, a category in which it obtained 69 points.
The list is headed by Hong Kong, followed
by Singapore, Australia, New Zealand, Switzerland and Canada, countries that
received over 80 points and are therefore considered “free economies.” The United States, in turn, received the same
score as Chile and was considered a country with an economy that is “almost
Another recent global acknowledgement for
the Chilean economy was the
country’s official admission into the Organization for Economic Cooperation and
Development (OECD), also known as the “club of wealthy countries.”