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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  
Chile ranks as the 10th most open economy in the world 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 free.”

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.”