Economy
Charting and Mapping China’s Exports Since 2001
Charting and Mapping China’s Exports Since 2001
Between the dawn of the Roman Empire and the first factory built in the Industrial Revolution, China was one of the most powerful economies on the planet, with a gross domestic product that made up roughly 30% of the global economy.
By the 1970s, the country’s economy had regressed to a shadow of its historic self, with a per-capita income equal to one-third of sub-Saharan Africa. But over the next four decades, China’s rapid industrial transformation made it the manufacturing powerhouse of the world, and exports rapidly ballooned.
Which markets are receiving all of these exports? This graphic from Ehsan Soltani uses data from the World Trade Organization and the customs office of China to track the biggest destinations of China’s merchandise exports—defined as goods that leave the territory of a country—since the 2000s.
China’s Top Export Markets from 2001‒2022
In 2001, when China joined the World Trade Organization, the value of its merchandise exports stood at $266 billion. Over the next seven years, the country’s exports grew uninterrupted until the 2008 financial crisis caused a sharp decline in global trade.
This cycle would repeat again with consecutive growth until 2015 (another global trade slowdown), followed by slowed growth until 2020 (the onset of the COVID-19 pandemic).
But merchandise exports skyrocketed by 30% in 2021, and by the end of 2022 had grown to an estimated $3.6 trillion per year. That means China’s exports alone are bigger than the entire economies of countries like the UK, India, and France.
Which countries were receiving most of these merchandise exports? Here are China’s top export markets from 2022 and their change since 2001:
China's Export Market | 2001 | 2022 | Change (%) |
---|---|---|---|
🇺🇸 U.S. | $54,355M | $581,783M | 970% |
🇪🇺 EU | $37,922M | $562,000M | 1,382% |
🇭🇰 Hong Kong | $46,541M | $297,538M | 539% |
🇯🇵 Japan | $44,941M | $172,927M | 285% |
🇰🇷 South Korea | $12,519M | $162,621M | 1,199% |
🇻🇳 Viet Nam | $1,798M | $146,960M | 8,074% |
🇮🇳 India | $1,896M | $118,502M | 6,150% |
🇲🇾 Malaysia | $3,221M | $93,711M | 2,809% |
🇹🇼 Taiwan | $5,001M | $81,587M | 1,531% |
🇬🇧 UK | $6,781M | $81,545M | 1,103% |
🌎 Rest of the World | $48,847M | $1,294,427M | 2,550% |
Total | $263,822M | $3,593,601M | 1,261% |
Despite Trump-era tariffs and a growing geopolitical rift over the last few years, the U.S. has been the biggest market for China’s exports for the last two decades. In 2022, the country received nearly $582 billion in goods from China.
Close behind, the 27 member states of the European Union rank as the second biggest market for exported Chinese goods at $562 billion. The largest individual country was the Netherlands, which accounted for $118 billion or just under 21% of Chinese merchandise exports to the EU.
How do other individual countries compare? Below is the full list of China’s export markets in 2022 by countries and territories:
Country / Territory | China Exports (2022) |
---|---|
U.S. | $581,783M |
Hong Kong | $297,538M |
Japan | $172,927M |
South Korea | $162,621M |
Viet Nam | $146,960M |
India | $118,502M |
Netherlands | $117,731M |
Germany | $116,227M |
Malaysia | $93,711M |
Taiwan | $81,587M |
UK | $81,545M |
Singapore | $81,168M |
Australia | $78,827M |
Thailand | $78,480M |
Mexico | $77,535M |
Russia | $76,123M |
Indonesia | $71,318M |
Philippines | $64,679M |
Brazil | $61,970M |
U.A.E | $53,862M |
Canada | $53,705M |
Italy | $50,908M |
France | $45,663M |
Spain | $41,750M |
Poland | $38,163M |
Saudi Arabia | $37,990M |
Belgium | $35,635M |
Türkiye | $34,034M |
Bangladesh | $26,808M |
South Africa | $24,196M |
Pakistan | $23,089M |
Chile | $22,520M |
Nigeria | $22,300M |
Czech Republic | $18,227M |
Egypt | $17,170M |
Israel | $16,481M |
Kazakhstan | $16,355M |
Colombia | $15,600M |
Kyrgyzstan | $15,421M |
Cambodia | $14,184M |
Iraq | $13,989M |
Myanmar | $13,616M |
Peru | $13,532M |
Greece | $12,988M |
Argentina | $12,769M |
Panama | $12,647M |
Sweden | $11,396M |
Hungary | $10,473M |
Denmark | $10,192M |
Iran | $9,440M |
New Zealand | $9,175M |
Kenya | $8,249M |
Ghana | $7,926M |
Tanzania | $7,775M |
Switzerland | $7,619M |
Liberia | $7,520M |
Uzbekistan | $7,504M |
Romania | $7,397M |
Slovenia | $6,861M |
Ecuador | $6,288M |
Algeria | $6,276M |
Portugal | $5,978M |
Morocco | $5,741M |
Ireland | $5,726M |
Jordan | $5,707M |
Norway | $5,191M |
Austria | $5,119M |
Congo, DR | $5,118M |
Kuwait | $4,970M |
Finland | $4,553M |
Slovakia | $4,436M |
Guatemala | $4,366M |
Dominican Republic | $4,319M |
Macao | $4,277M |
Oman | $4,205M |
Angola | $4,097M |
Senegal | $4,068M |
Qatar | $3,989M |
Sri Lanka | $3,755M |
Cote d'Ivoire | $3,491M |
Marshall Islands | $3,468M |
Ukraine | $3,300M |
Mozambique | $3,292M |
Belarus | $3,275M |
Djibouti | $3,262M |
Togo | $3,177M |
Cameroon | $3,167M |
Venezuela | $3,009M |
Uruguay | $2,983M |
Mongolia | $2,887M |
Bulgaria | $2,852M |
Yemen | $2,798M |
Lebanon | $2,516M |
Libya | $2,373M |
Costa Rica | $2,369M |
Lao | $2,340M |
Guinea | $2,283M |
Croatia | $2,266M |
Tajikistan | $2,217M |
Ethiopia | $2,217M |
Serbia | $2,177M |
Sudan | $2,034M |
Malta | $1,974M |
Paraguay | $1,895M |
Tunisia | $1,880M |
Lithuania | $1,790M |
Bahrian | $1,772M |
Benin | $1,691M |
El Salvador | $1,659M |
Nepal | $1,655M |
Honduras | $1,560M |
Madagascar | $1,455M |
Papua New Guinea | $1,426M |
Georgia | $1,252M |
Cyprus | $1,168M |
Azerbaijan | $1,136M |
Zimbabwe | $1,125M |
Uganda | $1,077M |
Bolivia | $1,067M |
Somalia | $1,047M |
Jamaica | $1,039M |
Latvia | $1,025M |
Zambia | $980M |
Republic of Congo | $976M |
Mauritius | $974M |
Puerto Rico | $973M |
Estonia | $947M |
Mauritania | $941M |
North Korea | $894M |
Turkmenistan | $868M |
Brunei | $831M |
Nicaragua | $724M |
Albania | $704M |
Niger | $676M |
Haiti | $635M |
Gabon | $583M |
Mali | $581M |
Guyana | $577M |
Sierra Leone | $573M |
Namibia | $557M |
Afghanistan | $553M |
Trinidad and Tobago | $544M |
Luxembourg | $526M |
Burkina Faso | $504M |
Fiji | $503M |
Armenia | $480M |
Gambia | $454M |
Maldives | $451M |
Syria | $425M |
Cuba | $414M |
Rwanda | $407M |
Bahamas | $397M |
Belize | $328M |
Suriname | $321M |
Iceland | $311M |
Timor-Leste | $290M |
Chad | $282M |
Malawi | $281M |
Reunion | $250M |
North Macedonia | $235M |
Equatorial Guinea | $231M |
Botswana | $221M |
Montenegro | $219M |
Moldova | $207M |
Solomon Islands | $196M |
Bosnia and Hercegovina | $185M |
New Caledonia | $169M |
Bhutan | $166M |
Barbados | $161M |
Palestine | $158M |
South Sudan | $157M |
French Polynesia | $154M |
Eritrea | $148M |
Samoa | $124M |
Burundi | $120M |
Virgin Islands,British | $109M |
Antigua and Barbuda | $105M |
Vanuatu | $96M |
Seychelles | $96M |
Cape Verde | $93M |
Bermuda | $83M |
Swaziland | $82M |
Guadeloupe | $68M |
Comoros | $67M |
Liechtenstein | $64M |
Aruba | $64M |
Curacao | $61M |
Lesotho | $60M |
Mayotte | $59M |
Tonga | $57M |
Guinea-Bissau | $57M |
Cayman Islands | $55M |
Palau | $54M |
Central African Republic | $52M |
Martinique | $48M |
Kiribati | $43M |
French Guiana | $39M |
Saint Lucia | $36M |
Dominica | $34M |
Tuvalu | $33M |
Micronesia,FS | $30M |
Netherlands Antilles | $26M |
Grenada | $23M |
Andorra | $22M |
St.Vincent&Grenadines | $22M |
Gibraltar | $18M |
Sao Tome and Principe | $15M |
St.Kitts&Nevis | $15M |
Nauru | $13M |
Monaco | $12M |
Cook Islands | $12M |
Turks&Caicos Islands | $10M |
San Marino | $10M |
Saint Martin Islands | $5M |
Canary Islands | $2M |
Faroe Islands | $2M |
Wallis and Futuna | $2M |
Norfolk Island | $2M |
Western Sahara | $1M |
Greenland | $1M |
Society Islands | $1M |
Will China’s Exports Continue to Grow?
Like the broader global economy, the Chinese economy is starting to re-adjust.
For one, the country is beginning to rebalance exports from its manufacturing-heavy mix to a more even allocation of both manufacturing and services. Secondly, the economy’s overall reliance on exports has decreased significantly from its highs in the mid-2000s, with an aim to increase domestic consumption and have a more self-sufficient economy overall.
That’s not to say that Chinese dominance on the world export stage is expected to waver. With far-reaching economic policies like the One Belt, One Road initiative and the RCEP trade agreement between 15 countries in Asia and Oceania, there are plenty of future growth avenues for Chinese exports.
As the country faces an unprecedented internal demographic shift in the coming decades, perhaps China’s robust export sector will be key to continued economic growth.

This article was published as a part of Visual Capitalist's Creator Program, which features data-driven visuals from some of our favorite Creators around the world.
Economy
Mapped: The State of Economic Freedom in 2023
How free are people to control their own labor, property, and finances? This map reveals the state of economic freedom globally.

Mapped: The State of Economic Freedom in 2023
The concept of economic freedom serves as a vital framework for evaluating the extent to which individuals and businesses have the freedom to make economic decisions. In countries with low economic freedom, governments exert coercion and constraints on liberties, restricting choice for individuals and businesses, which can ultimately hinder prosperity.
The map above uses the annual Index of Economic Freedom from the Heritage Foundation to showcase the level of economic freedom in every country worldwide on a scale of 0-100, looking at factors like property rights, tax burdens, labor freedom, and so on.
The ranking categorizing scores of 80+ as free economies, 70-79.9 as mostly free, 60-69.9 as moderately free, 50-59.9 as mostly unfree, and 0-49.9 as repressed.
Measuring Economic Freedom
This ranking uses four broad categories with three key indicators each, both qualitative and quantitative, to measure economic freedom.
- Rule of law: property rights, judicial effectiveness, government integrity
- Size of government: tax burdens, fiscal health, government spending
- Regulatory efficiency: labor freedom, monetary freedom, business freedom
- Open markets: financial freedom, trade freedom, investment freedom
The 12 indicators are weighted equally and scored from 0-100. The overall score is then determined from the average of the 12 indicators.
Here’s a closer look at every country’s score:
Rank | Country | 2023 Score |
---|---|---|
#1 | 🇸🇬 Singapore | 83.9 |
#2 | 🇨🇭 Switzerland | 83.8 |
#3 | 🇮🇪 Ireland | 82.0 |
#4 | 🇹🇼 Taiwan | 80.7 |
#5 | 🇳🇿 New Zealand | 78.9 |
#6 | 🇪🇪 Estonia | 78.6 |
#7 | 🇱🇺 Luxembourg | 78.4 |
#8 | 🇳🇱 Netherlands | 78.0 |
#9 | 🇩🇰 Denmark | 77.6 |
#10 | 🇸🇪 Sweden | 77.5 |
#11 | 🇫🇮 Finland | 77.1 |
#12 | 🇳🇴 Norway | 76.9 |
#13 | 🇦🇺 Australia | 74.8 |
#14 | 🇩🇪 Germany | 73.7 |
#15 | 🇰🇷 South Korea | 73.7 |
#16 | 🇨🇦 Canada | 73.7 |
#17 | 🇱🇻 Latvia | 72.8 |
#18 | 🇨🇾 Cyprus | 72.3 |
#19 | 🇮🇸 Iceland | 72.2 |
#20 | 🇱🇹 Lithuania | 72.2 |
#21 | 🇨🇿 Czechia | 71.9 |
#22 | 🇨🇱 Chile | 71.1 |
#23 | 🇦🇹 Austria | 71.1 |
#24 | 🇦🇪 United Arab Emirates | 70.9 |
#25 | 🇺🇸 United States | 70.6 |
#26 | 🇲🇺 Mauritius | 70.6 |
#27 | 🇺🇾 Uruguay | 70.2 |
#28 | 🇬🇧 United Kingdom | 69.9 |
#29 | 🇧🇧 Barbados | 69.8 |
#30 | 🇵🇹 Portugal | 69.5 |
#31 | 🇯🇵 Japan | 69.3 |
#32 | 🇧🇬 Bulgaria | 69.3 |
#33 | 🇸🇰 Slovakia | 69.0 |
#34 | 🇮🇱 Israel | 68.9 |
#35 | 🇬🇪 Georgia | 68.7 |
#36 | 🇶🇦 Qatar | 68.6 |
#37 | 🇸🇮 Slovenia | 68.5 |
#38 | 🇼🇸 Samoa | 68.3 |
#39 | 🇯🇲 Jamaica | 68.1 |
#40 | 🇵🇱 Poland | 67.7 |
#41 | 🇲🇹 Malta | 67.5 |
#42 | 🇲🇾 Malaysia | 67.3 |
#43 | 🇧🇪 Belgium | 67.1 |
#44 | 🇵🇪 Peru | 66.5 |
#45 | 🇨🇷 Costa Rica | 66.5 |
#46 | 🇭🇷 Croatia | 66.4 |
#47 | 🇨🇻 Cabo Verde | 65.8 |
#48 | 🇧🇳 Brunei Darussalam | 65.7 |
#49 | 🇦🇱 Albania | 65.3 |
#50 | 🇦🇲 Armenia | 65.1 |
#51 | 🇪🇸 Spain | 65.0 |
#52 | 🇧🇼 Botswana | 64.9 |
#53 | 🇷🇴 Romania | 64.5 |
#54 | 🇭🇺 Hungary | 64.1 |
#55 | 🇵🇦 Panama | 63.8 |
#56 | 🇲🇰 North Macedonia | 63.7 |
#57 | 🇫🇷 France | 63.6 |
#58 | 🇷🇸 Serbia | 63.5 |
#59 | 🇻🇨 Saint Vincent and the Grenadines | 63.5 |
#60 | 🇮🇩 Indonesia | 63.5 |
#61 | 🇲🇽 Mexico | 63.2 |
#62 | 🇨🇴 Colombia | 63.1 |
#63 | 🇧🇦 Bosnia and Herzegovina | 62.9 |
#64 | 🇬🇹 Guatemala | 62.7 |
#65 | 🇩🇴 Dominican Republic | 62.6 |
#66 | 🇧🇸 The Bahamas | 62.6 |
#67 | 🇫🇲 Micronesia | 62.6 |
#68 | 🇧🇭 Bahrain | 62.5 |
#69 | 🇮🇹 Italy | 62.3 |
#70 | 🇻🇺 Vanuatu | 62.1 |
#71 | 🇰🇿 Kazakhstan | 62.1 |
#72 | 🇻🇳 Vietnam | 61.8 |
#73 | 🇲🇳 Mongolia | 61.7 |
#74 | 🇸🇹 São Tomé and Príncipe | 61.5 |
#75 | 🇦🇿 Azerbaijan | 61.4 |
#76 | 🇵🇾 Paraguay | 61.0 |
#77 | 🇲🇪 Montenegro | 60.9 |
#78 | 🇽🇰 Kosovo | 60.7 |
#79 | 🇱🇨 Saint Lucia | 60.7 |
#80 | 🇹🇭 Thailand | 60.6 |
#81 | 🇨🇮 Côte d'Ivoire | 60.4 |
#82 | 🇹🇴 Tonga | 60.0 |
#83 | 🇹🇿 Tanzania | 60.0 |
#84 | 🇧🇯 Benin | 59.8 |
#85 | 🇧🇿 Belize | 59.8 |
#86 | 🇩🇲 Dominica | 59.7 |
#87 | 🇸🇨 Seychelles | 59.5 |
#88 | 🇹🇹 Trinidad and Tobago | 59.5 |
#89 | 🇵🇭 Philippines | 59.3 |
#90 | 🇧🇹 Bhutan | 59.0 |
#91 | 🇲🇬 Madagascar | 58.9 |
#92 | 🇰🇮 Kiribati | 58.8 |
#93 | 🇯🇴 Jordan | 58.8 |
#94 | 🇭🇳 Honduras | 58.7 |
#95 | 🇴🇲 Oman | 58.5 |
#96 | 🇲🇩 Moldova | 58.5 |
#97 | 🇲🇦 Morocco | 58.4 |
#98 | 🇸🇦 Saudi Arabia | 58.3 |
#99 | 🇬🇭 Ghana | 58.0 |
#100 | 🇫🇯 Fiji | 58.0 |
#101 | 🇬🇲 The Gambia | 57.9 |
#102 | 🇳🇦 Namibia | 57.7 |
#103 | 🇸🇳 Senegal | 57.7 |
#104 | 🇹🇷 Türkiye | 56.9 |
#105 | 🇬🇾 Guyana | 56.9 |
#106 | 🇬🇷 Greece | 56.9 |
#107 | 🇸🇧 Solomon Islands | 56.9 |
#108 | 🇰🇼 Kuwait | 56.7 |
#109 | 🇺🇿 Uzbekistan | 56.5 |
#110 | 🇰🇭 Cambodia | 56.5 |
#111 | 🇧🇫 Burkina Faso | 56.2 |
#112 | 🇬🇦 Gabon | 56.1 |
#113 | 🇩🇯 Djibouti | 56.1 |
#114 | 🇸🇻 El Salvador | 56.0 |
#115 | 🇰🇬 Kyrgyzstan | 55.8 |
#116 | 🇿🇦 South Africa | 55.7 |
#117 | 🇲🇷 Mauritania | 55.3 |
#118 | 🇹🇬 Togo | 55.3 |
#119 | 🇪🇨 Ecuador | 55.0 |
#120 | 🇸🇿 Eswatini | 54.9 |
#121 | 🇳🇮 Nicaragua | 54.9 |
#122 | 🇲🇱 Mali | 54.5 |
#123 | 🇧🇩 Bangladesh | 54.4 |
#124 | 🇳🇬 Nigeria | 53.9 |
#125 | 🇷🇺 Russia | 53.8 |
#126 | 🇳🇪 Niger | 53.7 |
#127 | 🇧🇷 Brazil | 53.5 |
#128 | 🇰🇲 Comoros | 53.5 |
#129 | 🇬🇳 Guinea | 53.2 |
#130 | 🇦🇴 Angola | 53.0 |
#131 | 🇮🇳 India | 52.9 |
#132 | 🇹🇳 Tunisia | 52.9 |
#133 | 🇲🇼 Malawi | 52.8 |
#134 | 🇲🇿 Mozambique | 52.5 |
#135 | 🇰🇪 Kenya | 52.5 |
#136 | 🇱🇰 Sri Lanka | 52.2 |
#137 | 🇷🇼 Rwanda | 52.2 |
#138 | 🇹🇩 Chad | 52.0 |
#139 | 🇨🇲 Cameroon | 51.9 |
#140 | 🇵🇬 Papua New Guinea | 51.7 |
#141 | 🇱🇸 Lesotho | 51.6 |
#142 | 🇳🇵 Nepal | 51.4 |
#143 | 🇺🇬 Uganda | 51.4 |
#144 | 🇦🇷 Argentina | 51.0 |
#145 | 🇧🇾 Belarus | 51.0 |
#146 | 🇹🇯 Tajikistan | 50.6 |
#147 | 🇱🇦 Laos | 50.3 |
#148 | 🇸🇱 Sierra Leone | 50.2 |
#149 | 🇭🇹 Haiti | 49.9 |
#150 | 🇱🇷 Liberia | 49.6 |
#151 | 🇪🇬 Egypt | 49.6 |
#152 | 🇵🇰 Pakistan | 49.4 |
#153 | 🇬🇶 Equatorial Guinea | 48.3 |
#154 | 🇨🇳 China | 48.3 |
#155 | 🇪🇹 Ethiopia | 48.3 |
#156 | 🇨🇬 Congo | 48.1 |
#157 | 🇨🇩 Democratic Republic of the Congo | 47.9 |
#158 | 🇿🇲 Zambia | 47.8 |
#159 | 🇹🇱 Timor-Leste | 47.2 |
#160 | 🇲🇻 Maldives | 46.6 |
#161 | 🇹🇲 Turkmenistan | 46.5 |
#162 | 🇲🇲 Myanmar | 46.5 |
#163 | 🇸🇷 Suriname | 46.1 |
#164 | 🇱🇧 Lebanon | 45.6 |
#165 | 🇬🇼 Guinea-Bissau | 44.6 |
#166 | 🇨🇫 Central African Republic | 43.8 |
#167 | 🇧🇴 Bolivia | 43.4 |
#168 | 🇩🇿 Algeria | 43.2 |
#169 | 🇮🇷 Iran | 42.2 |
#170 | 🇧🇮 Burundi | 41.9 |
#171 | 🇪🇷 Eritrea | 39.5 |
#172 | 🇿🇼 Zimbabwe | 39.0 |
#173 | 🇸🇩 Sudan | 32.8 |
#174 | 🇻🇪 Venezuela | 25.8 |
#175 | 🇨🇺 Cuba | 24.3 |
#176 | 🇰🇵 North Korea | 2.9 |
- | 🇮🇶 Iraq | N/A |
- | 🇱🇾 Libya | N/A |
- | 🇱🇮 Liechtenstein | N/A |
- | Afghanistan | N/A |
Only four countries in the world have a score of 80 or above, Ireland, Singapore, Switzerland, and Taiwan, categorizing them as completely free economically.
Let’s now look at things from a more regional perspective.
Europe
From a regional perspective, Europe ranks the strongest in economic freedom.
Despite being a powerhouse within Europe, Germany ranks 10th in the continent, with a score of 73.7. One of the categories Germany scored the weakest in was government spending (28.3/100). Over the last three years, government spending has averaged 49% of GDP.
Ireland ranks third globally, scoring particularly high in categories like property rights and judicial effectiveness. The country also has no minimum capital requirement—which is typically a banking regulation and corporate law issue determining how many assets an organization must hold—making it attractive for businesses to set up shop on the Emerald Isle.
Africa
Currently, Africa is the continent with the least economic freedom in the world, however, it is also the region with the highest potential for economic growth. A booming population, and thus, labor force, are promising for future innovation. In fact, it’s anticipated that Africa will see an increase of 2.5 billion people by the end of the century.
The lowest scoring country in Africa is Sudan, a country under further strain thanks to rife civil conflict. Historically, economic development has been constrained by rampant corruption and a lack of institutional capacity.
Conversely, Botswana registered the highest score on continental Africa (64.9), ranking higher than countries like France and Italy.
The Americas
In the Americas, the United States ranks 3rd regionally—25th overall—with a score of 70.6. The report attributes the categorization of U.S. as only “mostly free” to issues like inflation, increasing government debt, and unchecked deficit spending. Public debt currently sits at a figure equivalent to more than 128% of GDP.
In South America, Chile comes out on top, ranking above many other economic powerhouses like the U.S., the UK, and Japan. However, the 2021 election of a new Constitutional Assembly could risk the current economic state, as it favors a much more socialist approach to the economy.
East Asia and Oceania
China’s score is among the lowest in East Asia & Oceania, ranking 154th in the world categorizing it as a repressed economy. The ruling Chinese Communist Party routinely exercises direct control over economic activity. China’s protectionist stance towards foreign investment and a plethora of trade tariffs imposed by other nations also factor in here.
In India, where public debt is equivalent to about 84% of GDP, fiscal health is the worst-scoring category. Additionally, much of the economy remains quite informal; a large share of people work in jobs without tax slips, recorded income, or formal contracts protecting them, which challenges labor freedoms.
The Middle East and Central Asia
It may come as no surprise that the United Arab Emirates has the highest score in the Middle East. The UAE has implemented various measures and initiatives, such as tax exemptions, duty-free zones, streamlined business registration processes, and flexible regulatory frameworks to encourage entrepreneurship and foreign direct investment. As well, the top individual and corporate tax rates in the country are 0%.
Türkiye’s lowest scoring category relates to judiciary effectiveness and the rule of law. President Recep Tayyip Erdoğan, who has already been in power for two decades, recently won the country’s election, again cementing his authority over Turkish politics. This makes it unlikely that Türkiye’s economic freedom score will recover in the short to medium term.
Where Does This Data Come From?
Source: The Index of Economic Freedom from the Heritage Foundation
Data notes: A number of countries were not ranked due to unavailable data or other factors, like ongoing war, that made it difficult to properly assess the economy. These countries include: Ukraine, Afghanistan, Iraq, Libya, Liechtenstein, Somalia, Syria, and Yemen.
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Central Banks2 weeks ago
Charted: Public Trust in the Federal Reserve
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Announcement4 weeks ago
Calling All Data Storytellers to Enter our Creator Program Challenge
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AI2 weeks ago
Ranked: The World’s Top 25 Websites in 2023