Mongolia ranks 75th of 177 countries in 2013 Economic Freedom Index

Mongolia slightly improved its ranking in the 2013 Index of Economic Freedom, published annually by The Wall Street Journal and The Heritage Foundation, which was released January 10, 2013. Out of  177 countries evaluated, Mongolia ranked #75, with a numerical score of 61.7, two-tenths of a point above its 2012 score. Mongolia is in the category “Moderately Free.”  The world average score is 59.6;  the Asian regional average is 57.4  Mongolia ranked seven places below Kazakhstan but above Slovenia, Ghana,  Croatia and Uganda.

For the 19th consecutive year, Hong Kong was ranked #1 globally (89.3 points), followed by #2 Singapore, #3 Australia and #4 New Zealand. North Korea ranked last, #177/177 with a point score of 1.5. In comparison, Russia ranked   #139, China #136, India #119, South Korea  #34, Japan #24, USA #10,  and Canada #6.  

Launched in 1995, the Index evaluates countries in four broad areas of economic freedom: rule of law; regulatory efficiency; limited government; and open markets. Based on its aggregate score, each of 177 countries graded was classified as “free” (i.e. combined scores of 80 or higher); “mostly free” (70-79.9); “moderately free” (60-69.9); “mostly unfree” (50-59.9); or “repressed” (under 50). The world average score of 59.6 was only one-tenth of a point above the 2012 average. Since reaching a peak in 2008, theIndex editors noted , global economic freedom has continued to stagnate. The overall trend for last year, however, was positive: among the 177 countries ranked in the 2013Index, scores improved for 91 countries and declined for 78.

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