Sri Lanka ranks 83 among 162 jurisdictions on the Economic Freedom of the World index,  a position it has secured by gaining 15 places over the last year.

However, the ‘Economic Freedom of the World: 2020 Annual Report’, released by Canada’s Fraser Institute in association with the Advocata Institute Sri Lanka, stated that the island nation would have been placed at a lower rank and given a smaller score if the data were based on 2018, 2019, and 2020, instead of being based only on for 2018 data.
The ranking is based on the categories: 1. Size of Government, 2: Legal System and Property Rights, 3: Sound Money,  4: Freedom to Trade Internationally, and 5: Regulation.
Topping the index is Hong Kong, followed by Singapore. New Zealand, Switzerland, the United States, Australia, Mauritius, Georgia, Canada, and Ireland round out the top 10.