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TAIPEI, (TaiwanToday) – Taiwan ranked fifth in the 2026 Index of Economic Freedom released March 10 by Washington, DC-based think tank The Heritage Foundation, according to the National Development Council.
The country placed third out of 39 in the Asia-Pacific and was classified as “mostly free” along with 26 other economies. The top four spots overall went to Singapore, Switzerland, Ireland and Australia, in that order, with these countries the only ones categorised as “free.”
Praising Taiwan as an exemplary free-market democracy and a global leader in economic freedom, the report said that Taiwan’s dynamic and adaptive economy benefits from a well-functioning institutional framework and that its small and medium enterprises form the backbone of economic growth and resilience.
The country saw improvement in four out of 12 benchmarks used to compile index rankings and was rated as “free” in the six benchmarks of property rights, judicial effectiveness, monetary freedom, government spending, fiscal health and trade freedom.
In response, the NDC said the government implemented a raft of regulatory reforms between 2024 and 2025 to improve the country’s business environment, recruit foreign talent and promote business innovation, among other goals.
The council said that amid ongoing uncertainties, such as artificial intelligence development, geopolitical challenges and US tariff policies, Taiwan is committed to promoting digital transition and sustainable development. The government will continue to help local firms upgrade their digital capabilities and promote industry upgrades to strengthen Taiwan’s global competitiveness, it added.
Beginning in 1995, the annual index tracks economic freedom in 184 markets worldwide in areas spanning government size, open markets, regulatory efficiency and rule of law.
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