Mauritius is the 6th most economically free jurisdiction in the world with an 8.08 rating, according to the Fraser Institute’s Economic Freedom of the World 2015 Annual Report.
The report measures economic freedom by analysing the policies and institutions of 157 countries and territories. The cornerstones of economic freedom are personal choice, voluntary exchange, freedom to enter markets and compete, and security of the person and privately owned property.
The top 10 most economically free jurisdictions, based on 2013 statistics (which is the most recent year of available data), are: Hong Kong, Singapore, New Zealand, Switzerland, United Arab Emirates, Mauritius, Jordan, Ireland and Canada, with the United Kingdom and Chile tied for the 10th ranking.
42 distinct pieces of data points are used to measure the degree of economic freedom in five broad areas.
For these five areas, Mauritius ratings, on a scale of 10, are as follows:
- Size of Government: expenditures, taxes, and enterprises - 7.87
- Legal structure and security of property rights - 6.55
- Access to sound money - 9.67
- Freedom to trade internationally - 8.49
- Regulation of credit, labour, and business - 7.82
According to the Report, nations in the top quartile of economic freedom had an average per-capita GDP of $38,601 in 2013, compared to $6,986 for bottom quartile nations. Life expectancy is 80.1 years, compared to 63.1 years.
The rankings of some other major countries are the United States (16th), Japan (26th), Germany (29th), South Korea (39th), Italy (68th), France (70th), Mexico (93st), Russia (99th), China (111th), India (114th), and Brazil (118th).
The 10 lowest-ranked countries are Angola, Central African Republic, Zimbabwe, Algeria, Argentina, Syria, Chad, Libya, Republic of Congo, and Venezuela.
The Fraser Institute produces the annual Economic Freedom of the World report in cooperation with the Economic Freedom Network, a group of independent research and educational institutes in 90 nations and territories.