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It received an 8.48 rating.
With a rating of 8.48, Singapore ranked second in the latest Economic Freedom of the World report by the Fraser Institute.
This marks the fourth year that Singapore ranked behind Hong Kong in the index.
According to the Fraser Institute, Singapore held the second rank in the 2010, 2015, and 2019 editions of the index.
Fraser Institute measures the degree of economic freedom in five areas – the size of government, legal system and property rights, sound money, freedom to trade internationally, and regulation.
Singapore got a rating of 7.18, 8.3, 9.6, 8.6, and 8.7 in the five areas, respectively.
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