According to the latest report Economic Freedom of the World: 2011 Annual Report released by the Fraser Institute in Canada Latvia is ranked No. 60.

The Fraser Institute has collected data of 2009, and compared to the previous year Latvia has dropped five places in the survey Economic Freedom of the World.

Within one year, Estonia has dropped three places in the survey and is ranked No. 15, but Lithuania has moved up 9 places – to No. 24.

Score of Latvia
Latvia has received a score of 6.92 points out of 10.

Hong Kong remains in first place with a score of 9.01.

It is followed by Singapore (8.68 points), New Zealand (8.2), Switzerland (8.03), Australia (7.98), Canada (7.81), Chile (7.77), the United Kingdom (7.71), Mauritius (7.67), and the USA (7.6).

Overall, the survey Economic Freedom of the World includes 141 countries. The bottom-ranked countries in the survey are Zimbabwe – 4.08, Myanmar – 4.16, and Venezuela – 4.28 (out of 10 points).

The Fraser Institute carries out research of the level of economic freedom since 1996. The total index of economic freedom consists of sub-indexes describing the level of freedom in five areas – size of the government (expenditures, taxes and enterprises), legal structure and security of property rights, access to sound money, freedom to trade internationally and regulation of credit, labour, and business.