Markets
Mapped: Corruption in Countries Around the World
For more detail, view the full-sized version of this infographic
Mapped: Corruption in Countries Around the World
How bad is public sector corruption around the world, and how do different countries compare?
No matter your system of government, the public sector plays a vital role in establishing your economic mobility and political freedoms. Measuring corruption—the abuse of power for private gain—reveals how equal a system truly is.
For more than a decade, the Corruption Perceptions Index (CPI) by Transparency International has been the world’s most widely-used metric for scoring corruption. This infographic uses the 2021 CPI to visualize corruption in countries around the world, and the biggest 10-year changes.
Which Countries are Most (and Least) Corrupt?
How do you measure corruption, which includes behind-the-scenes deals, nepotism, corrupt prosecution, and bribery?
Over the last few decades, the CPI has found success doing so indirectly through perceptions.
By aggregating multiple analyses from country and business experts, the index assigns each country a score on a scale of 0 to 100, where 0 is highly corrupt and 100 is very clean.
Here are the results of the 2021 CPI, with the least corrupt countries at the top:
Corruption Perception by Country | Score (2021) |
---|---|
Denmark | 88 |
Finland | 88 |
New Zealand | 88 |
Norway | 85 |
Singapore | 85 |
Sweden | 85 |
Switzerland | 84 |
Netherlands | 82 |
Luxembourg | 81 |
Germany | 80 |
UK | 78 |
Hong Kong | 76 |
Austria | 74 |
Canada | 74 |
Estonia | 74 |
Iceland | 74 |
Ireland | 74 |
Australia | 73 |
Belgium | 73 |
Japan | 73 |
Uruguay | 73 |
France | 71 |
Seychelles | 70 |
UAE | 69 |
Bhutan | 68 |
Taiwan | 68 |
Chile | 67 |
U.S. | 67 |
Barbados | 65 |
Bahamas | 64 |
Qatar | 63 |
Portugal | 62 |
South Korea | 62 |
Lithuania | 61 |
Spain | 61 |
Israel | 59 |
Latvia | 59 |
Saint Vincent and the Grenadines | 59 |
Cabo Verde | 58 |
Costa Rica | 58 |
Slovenia | 57 |
Italy | 56 |
Poland | 56 |
Saint Lucia | 56 |
Botswana | 55 |
Dominica | 55 |
Fiji | 55 |
Georgia | 55 |
Czechia | 54 |
Malta | 54 |
Mauritius | 54 |
Cyprus | 53 |
Grenada | 53 |
Rwanda | 53 |
Saudi Arabia | 53 |
Oman | 52 |
Slovakia | 52 |
Armenia | 49 |
Greece | 49 |
Jordan | 49 |
Namibia | 49 |
Malaysia | 48 |
Croatia | 47 |
Cuba | 46 |
Montenegro | 46 |
China | 45 |
Romania | 45 |
Sao Tome and Principe | 45 |
Vanuatu | 45 |
Jamaica | 44 |
South Africa | 44 |
Tunisia | 44 |
Ghana | 43 |
Hungary | 43 |
Kuwait | 43 |
Senegal | 43 |
Solomon Islands | 43 |
Bahrain | 42 |
Benin | 42 |
Bulgaria | 42 |
Burkina Faso | 42 |
Belarus | 41 |
Timor-Leste | 41 |
Trinidad and Tobago | 41 |
India | 40 |
Maldives | 40 |
Colombia | 39 |
Ethiopia | 39 |
Guyana | 39 |
Kosovo | 39 |
Morocco | 39 |
North Macedonia | 39 |
Suriname | 39 |
Tanzania | 39 |
Vietnam | 39 |
Argentina | 38 |
Brazil | 38 |
Indonesia | 38 |
Lesotho | 38 |
Serbia | 38 |
Turkey | 38 |
Gambia | 37 |
Kazakhstan | 37 |
Sri Lanka | 37 |
Cote d'Ivoire | 36 |
Ecuador | 36 |
Moldova | 36 |
Panama | 36 |
Peru | 36 |
Albania | 35 |
Bosnia and Herzegovina | 35 |
Malawi | 35 |
Mongolia | 35 |
Thailand | 35 |
El Salvador | 34 |
Sierra Leone | 34 |
Algeria | 33 |
Egypt | 33 |
Nepal | 33 |
Philippines | 33 |
Zambia | 33 |
Eswatini | 32 |
Ukraine | 32 |
Gabon | 31 |
Mexico | 31 |
Niger | 31 |
Papua New Guinea | 31 |
Azerbaijan | 30 |
Bolivia | 30 |
Djibouti | 30 |
Dominican Republic | 30 |
Kenya | 30 |
Laos | 30 |
Paraguay | 30 |
Togo | 30 |
Angola | 29 |
Liberia | 29 |
Mali | 29 |
Russia | 29 |
Mauritania | 28 |
Myanmar | 28 |
Pakistan | 28 |
Uzbekistan | 28 |
Cameroon | 27 |
Kyrgyzstan | 27 |
Uganda | 27 |
Bangladesh | 26 |
Madagascar | 26 |
Mozambique | 26 |
Guatemala | 25 |
Guinea | 25 |
Iran | 25 |
Tajikistan | 25 |
Central African Republic | 24 |
Lebanon | 24 |
Nigeria | 24 |
Cambodia | 23 |
Honduras | 23 |
Iraq | 23 |
Zimbabwe | 23 |
Eritrea | 22 |
Congo | 21 |
Guinea-Bissau | 21 |
Chad | 20 |
Comoros | 20 |
Haiti | 20 |
Nicaragua | 20 |
Sudan | 20 |
Burundi | 19 |
Democratic Republic of the Congo | 19 |
Turkmenistan | 19 |
Equatorial Guinea | 17 |
Libya | 17 |
Afghanistan | 16 |
North Korea | 16 |
Yemen | 16 |
Venezuela | 14 |
Somalia | 13 |
Syria | 13 |
South Sudan | 11 |
Ranking at the top of the index with scores of 88 are Nordic countries Denmark and Finland, as well as New Zealand.
They’ve consistently topped the CPI over the last decade, and Europe in general had 14 of the top 20 least corrupt countries. Asia also had many notable entrants, including Singapore (tied for #4), Hong Kong (#12), and Japan (tied for #18).
Comparatively, the Americas only had two countries score in the top 20 least corrupt: Canada (tied for #13) and Uruguay (tied for #18). With a score of 67, the U.S. scored at #28 just behind Bhutan, the UAE, and France.
Scoring towards the bottom of the index were many countries currently and historically going through conflict, primarily located in the Middle East and Africa. They include Afghanistan, Venezuela, Somalia, and South Sudan. The latter country finishes at the very bottom of the list, with a score of just 11.
How Corruption in Countries Has Changed (2012–2021)
Corruption is a constant and moving global problem, so it’s also important to measure which countries have had their images improved (or worsened).
By using CPI scores dating back to 2012, we can examine how country scores have changed over the last decade:
Change in Corruption by Country | 10-Year Trend (2012-2021) |
---|---|
Seychelles | +18 |
Armenia | +15 |
Italy | +14 |
Greece | +13 |
Myanmar | +13 |
Guyana | +11 |
Uzbekistan | +11 |
Estonia | +10 |
Latvia | +10 |
Belarus | +10 |
Saudi Arabia | +9 |
Kazakhstan | +9 |
Laos | +9 |
Timor-Leste | +8 |
Vietnam | +8 |
Afghanistan | +8 |
North Korea | +8 |
Taiwan | +7 |
Lithuania | +7 |
Senegal | +7 |
Cote d'Ivoire | +7 |
Angola | +7 |
Sudan | +7 |
South Korea | +6 |
Slovakia | +6 |
China | +6 |
Jamaica | +6 |
Benin | +6 |
Ethiopia | +6 |
Indonesia | +6 |
Nepal | +6 |
Ukraine | +6 |
Papua New Guinea | +6 |
Austria | +5 |
Ireland | +5 |
Bhutan | +5 |
Czechia | +5 |
Oman | +5 |
Montenegro | +5 |
Kosovo | +5 |
Paraguay | +5 |
Iraq | +5 |
Somalia | +5 |
United Kingdom | +4 |
Costa Rica | +4 |
Burkina Faso | +4 |
India | +4 |
Tanzania | +4 |
Ecuador | +4 |
Georgia | +3 |
Sao Tome and Principe | +3 |
Tunisia | +3 |
Colombia | +3 |
Argentina | +3 |
Gambia | +3 |
Sierra Leone | +3 |
Azerbaijan | +3 |
Kenya | +3 |
Kyrgyzstan | +3 |
Tajikistan | +3 |
Zimbabwe | +3 |
Trinidad and Tobago | +2 |
Morocco | +2 |
Suriname | +2 |
Albania | +2 |
Turkmenistan | +2 |
Luxembourg | +1 |
Germany | +1 |
Uruguay | +1 |
United Arab Emirates | +1 |
Jordan | +1 |
Namibia | +1 |
Croatia | +1 |
Romania | +1 |
South Africa | +1 |
Bulgaria | +1 |
Egypt | +1 |
Russia | +1 |
Pakistan | +1 |
Cameroon | +1 |
Guinea | +1 |
Cambodia | +1 |
Haiti | +1 |
Chad | +1 |
Norway | 0 |
France | 0 |
Rwanda | 0 |
Moldova | 0 |
Togo | 0 |
Bangladesh | 0 |
Burundi | 0 |
Hong Kong | -1 |
Japan | -1 |
Portugal | -1 |
Israel | -1 |
Malaysia | -1 |
Kuwait | -1 |
Serbia | -1 |
Mongolia | -1 |
Algeria | -1 |
Philippines | -1 |
Denmark | -2 |
Finland | -2 |
New Zealand | -2 |
Singapore | -2 |
Switzerland | -2 |
Netherlands | -2 |
Belgium | -2 |
Cabo Verde | -2 |
Poland | -2 |
Cuba | -2 |
Ghana | -2 |
Panama | -2 |
Peru | -2 |
Malawi | -2 |
Thailand | -2 |
Niger | -2 |
Dominican Republic | -2 |
Uganda | -2 |
Central African Republic | -2 |
Democratic Republic of the Congo | -2 |
Sweden | -3 |
Saint Vincent and the Grenadines | -3 |
Dominica | -3 |
Malta | -3 |
Mauritius | -3 |
Sri Lanka | -3 |
Mexico | -3 |
Mauritania | -3 |
Iran | -3 |
Nigeria | -3 |
Eritrea | -3 |
Equatorial Guinea | -3 |
Spain | -4 |
Slovenia | -4 |
North Macedonia | -4 |
El Salvador | -4 |
Zambia | -4 |
Gabon | -4 |
Bolivia | -4 |
Guinea-Bissau | -4 |
Libya | -4 |
Chile | -5 |
Qatar | -5 |
Brazil | -5 |
Eswatini | -5 |
Mali | -5 |
Mozambique | -5 |
Honduras | -5 |
Congo | -5 |
Venezuela | -5 |
United States of America | -6 |
Djibouti | -6 |
Madagascar | -6 |
Lebanon | -6 |
Bahamas | -7 |
Lesotho | -7 |
Bosnia and Herzegovina | -7 |
Yemen | -7 |
Iceland | -8 |
Guatemala | -8 |
Comoros | -8 |
Bahrain | -9 |
Nicaragua | -9 |
Canada | -10 |
Botswana | -10 |
Barbados | -11 |
Turkey | -11 |
Australia | -12 |
Hungary | -12 |
Liberia | -12 |
Cyprus | -13 |
Syria | -13 |
Saint Lucia | -15 |
Fiji | N/A |
Grenada | N/A |
Vanuatu | N/A |
Solomon Islands | N/A |
Maldives | N/A |
South Sudan | N/A |
The biggest climber with +18 was Seychelles, Africa’s smallest country and also its least corrupt with a score of 70. Other notable improvements include neighboring countries Estonia, Latvia, and Belarus, with Estonia rising into the top 15 least corrupt countries.
On the opposite side, both Australia (-12) and Canada (-10) have actually fallen out of the top 10 least corrupt countries over the last decade. They’re joined by decreases in Hungary (-12) and Syria (-13), which is now ranked as the world’s second-most corrupt country.
Which countries will rise and fall in corruption perceptions over the next 10 years, and how do your perceptions compare with this list?
Markets
The Top Google Searches Related to Investing in 2022
What was on investors’ minds in 2022? Discover the top Google searches and how the dominant trends played out in portfolios.


The Top Google Searches Related to Investing in 2022
It was a turbulent year for the markets in 2022, with geopolitical conflict, rising prices, and the labor market playing key roles. Which stories captured investors’ attention the most?
This infographic from New York Life Investments outlines the top Google searches related to investing in 2022, and offers a closer look at some of the trends.
Top Google Searches: Year in Review
We picked some of the top economic and investing stories that saw peak search interest in the U.S. each month, according to Google Trends.
Month of Peak Interest | Search Term |
---|---|
January | Great Resignation |
February | Russian Stock Market |
March | Oil Price |
April | Housing Bubble |
May | Value Investing |
June | Bitcoin |
July | Recession |
August | Inflation |
September | US Dollar |
October | OPEC |
November | Layoffs |
December | Interest Rate Forecast |
Data based on exact searches in the U.S. from December 26, 2021 to December 18, 2022.
Let’s look at each quarter in more detail, to see how these top Google searches were related to activity in the economy and investors’ portfolios.
Q1 2022
The start of the year was marked by U.S. workers quitting their jobs in record numbers, and the effects of the Russia-Ukraine war. For instance, the price of crude oil skyrocketed after the war caused supply uncertainties. Early March’s peak of $125 per barrel was a 13-year high.
Date | Closing Price of WTI Crude Oil (USD/Barrel) |
---|---|
January 2, 2022 | $76 |
March 3, 2022 | $125 |
December 29, 2022 | $80 |
While crude oil lost nearly all its gains by year-end, the energy sector in general performed well. In fact, the S&P 500 Energy Index gained 57% over the year compared to the S&P 500’s 19% loss.
Q2 2022
The second quarter of 2022 saw abnormal house price growth, renewed interest in value investing, and a bitcoin crash. In particular, value investing performed much better than growth investing over the course of the year.
Index | Price Return in 2022 |
---|---|
S&P 500 Value Index | -7.4% |
S&P 500 Growth Index | -30.1% |
Value stocks have typically outperformed during periods of rising rates, and 2022 was no exception.
Q3 2022
The third quarter was defined by worries about a recession and inflation, along with interest in the rising U.S. dollar. In fact, the U.S. dollar gained against nearly every major currency.
Currency | USD Appreciation Against Currency (Dec 31 2020-Sep 30 2022) |
---|---|
Japanese Yen | 40.1% |
Chinese Yuan | 9.2% |
Euro | 25.1% |
Canadian Dollar | 7.2% |
British Pound | 22.0% |
Australian Dollar | 18.1% |
Higher interest rates made the U.S. dollar more attractive to investors, since it meant they would get a higher return on their fixed income investments.
Q4 2022
The end of the year was dominated by OPEC cutting oil production, high layoffs in the tech sector, and curiosity about the future of interest rates. The Federal Reserve’s December 2022 economic projections offer clues about the trajectory of the policy rate.
2023 | 2024 | 2025 | Longer Run | |
---|---|---|---|---|
Minimum Projection | 4.9% | 3.1% | 2.4% | 2.3% |
Median Projection | 5.1% | 4.1% | 3.1% | 2.5% |
Maximum Projection | 5.6% | 5.6% | 5.6% | 3.3% |
The Federal Reserve expects interest rates to peak in 2023, with rates to remain elevated above pre-pandemic levels for the foreseeable future.
The Top Google Searches to Come
After a year of volatility across asset classes, economic uncertainty remains. Which themes will become investors’ top Google searches in 2023?
Find out how New York Life Investments can help you make sense of market trends.

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