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Ranked: The World’s Most Sustainable Economies in 2023

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The following content is sponsored by The Hinrich Foundation

Ranked: The World’s Most Sustainable Economies in 2023

This infographic from The Hinrich Foundation introduces the 2023 edition of the Sustainable Trade Index (STI), an annual ranking of 30 global economies developed in conjunction with the IMD World Competitiveness Center.

The purpose of the STI is to stimulate meaningful discussions about the linkages between global trade and sustainability, serving as a practical tool for governments, policymakers, and researchers.

Overall Ranking for 2023

The overall STI rankings, which are visualized in the first chart of this infographic, are also shown in the table below.

The 2023 rankings are determined by averaging each economyโ€™s performance in three underlying pillars of sustainability (Economic, Societal, and Environmental). Altogether, the three pillars are supported by 71 individual indicators.

RankEconomy2023 ScoreChange in Rank
from 2022
1๐Ÿ‡ณ๐Ÿ‡ฟ New Zealand100.0=
2๐Ÿ‡ฌ๐Ÿ‡ง United Kingdom96.5=
3๐Ÿ‡ธ๐Ÿ‡ฌ Singapore94.12
4๐Ÿ‡ญ๐Ÿ‡ฐ Hong Kong, SAR85.6-1
5๐Ÿ‡ฆ๐Ÿ‡บ Australia84.51
6๐Ÿ‡ฐ๐Ÿ‡ท South Korea84.22
7๐Ÿ‡จ๐Ÿ‡ฆ Canada82.1=
8๐Ÿ‡ฏ๐Ÿ‡ต Japan79.3-4
9๐Ÿ‡บ๐Ÿ‡ธ United States77.2=
10๐Ÿ‡น๐Ÿ‡ผ Taiwan65.9=
11๐Ÿ‡จ๐Ÿ‡ฑ Chile64.4=
12๐Ÿ‡ต๐Ÿ‡ญ Philippines61.4=
13๐Ÿ‡ป๐Ÿ‡ณ Vietnam58.87
14๐Ÿ‡ฒ๐Ÿ‡พ Malaysia58.1=
15๐Ÿ‡ฒ๐Ÿ‡ฝ Mexico53.81
16๐Ÿ‡จ๐Ÿ‡ณ China50.1-3
17๐Ÿ‡น๐Ÿ‡ญ Thailand50.1-2
18๐Ÿ‡ฐ๐Ÿ‡ญ Cambodia49.4-1
19๐Ÿ‡ฎ๐Ÿ‡ฉ Indonesia49.1-1
20๐Ÿ‡ช๐Ÿ‡จ Ecuador38.5-1
21๐Ÿ‡ต๐Ÿ‡ช Peru38.4=
22๐Ÿ‡ฑ๐Ÿ‡ฆ Laos30.91
23๐Ÿ‡ง๐Ÿ‡ฉ Bangladesh29.11
24๐Ÿ‡ฎ๐Ÿ‡ณ India26.02
25๐Ÿ‡ฑ๐Ÿ‡ฐ Sri Lanka23.7-3
26๐Ÿ‡ง๐Ÿ‡ณ Brunei19.6-1
27๐Ÿ‡ต๐Ÿ‡ฐ Pakistan12.02
28๐Ÿ‡ต๐Ÿ‡ฌ Papua New Guinea11.6-1
29๐Ÿ‡ฒ๐Ÿ‡ฒ Myanmar4.3-1
30๐Ÿ‡ท๐Ÿ‡บ Russia0.0=

As in previous years, the most sustainable economies in the STI continue to be those with relatively small populations and an above-average GDP per capita.

The biggest decliner this year is Japan, which fell four places due to its weaker performance in the Environmental pillar relative to 2022.

On the other hand, Vietnam climbed seven places. The Southeast Asian country improved in all three aspects of the STI, with the biggest jump in the Environmental pillar.

Individual Pillar Rankings

Hereโ€™s how each economy ranked in the three underlying pillars of the STI. Do any of these results surprise you? 

EconomyGDP per Capita
(rank)
Economic
(rank)
Societal
(rank)
Environmental
(rank)
๐Ÿ‡ฆ๐Ÿ‡บ Australia312310
๐Ÿ‡ง๐Ÿ‡ฉ Bangladesh25232622
๐Ÿ‡ง๐Ÿ‡ณ Brunei8211829
๐Ÿ‡ฐ๐Ÿ‡ญ Cambodia28172211
๐Ÿ‡จ๐Ÿ‡ฆ Canada49119
๐Ÿ‡จ๐Ÿ‡ฑ Chile13131114
๐Ÿ‡จ๐Ÿ‡ณ China1472520
๐Ÿ‡ช๐Ÿ‡จ Ecuador19241618
๐Ÿ‡ญ๐Ÿ‡ฐ Hong Kong, SAR53107
๐Ÿ‡ฎ๐Ÿ‡ณ India26192828
๐Ÿ‡ฎ๐Ÿ‡ฉ Indonesia2018239
๐Ÿ‡ฏ๐Ÿ‡ต Japan910512
๐Ÿ‡ฑ๐Ÿ‡ฆ Laos2729196
๐Ÿ‡ฒ๐Ÿ‡พ Malaysia15111713
๐Ÿ‡ฒ๐Ÿ‡ฝ Mexico1622213
๐Ÿ‡ฒ๐Ÿ‡ฒ Myanmar30263021
๐Ÿ‡ณ๐Ÿ‡ฟ New Zealand6821
๐Ÿ‡ต๐Ÿ‡ฐ Pakistan29282726
๐Ÿ‡ต๐Ÿ‡ฌ Papua New Guinea23272925
๐Ÿ‡ต๐Ÿ‡ช Peru18202023
๐Ÿ‡ต๐Ÿ‡ญ Philippines2216144
๐Ÿ‡ท๐Ÿ‡บ Russia12252430
๐Ÿ‡ธ๐Ÿ‡ฌ Singapore1185
๐Ÿ‡ฐ๐Ÿ‡ท South Korea112717
๐Ÿ‡ฑ๐Ÿ‡ฐ Sri Lanka24301316
๐Ÿ‡น๐Ÿ‡ผ Taiwan106627
๐Ÿ‡น๐Ÿ‡ญ Thailand17141224
๐Ÿ‡ฌ๐Ÿ‡ง United Kingdom7542
๐Ÿ‡บ๐Ÿ‡ธ United States24915
๐Ÿ‡ป๐Ÿ‡ณ Vietnam2115158

Due to the structure of the Sustainable Trade Index, economies can only rank highly if they perform well across all three of the underlying pillars. This mirrors the reality of sustainability, where balancing economic, social, and environmental priorities is critical.

Gain More Insights

This infographic was just a preview of what the Sustainable Trade Index has to offer. To learn more, visit The Hinrich Foundation, where you can download additional resources including the entire report for free.

Hinrich-IMD Sustainable Trade Index 2023
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