The top 50 economies are a very diverse group. They are not the top 50 scores for economic freedom. They range from Hong Kong #1 to Venezuela #176. They are not the top 50 countries for population. They range from China #1 to Qatar #140. The top 50 economies are the top 50 countries for gross domestic product in terms of purchasing power parity. They range from China #1 $1,368 Billion to Czech Republic #50 $314.6 Billion.

GDP per capita based on purchasing power parity (PPP). PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as the U.S. dollar has in the United States. GDP at purchaser’s prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products.
The top 50 economies range from Qatar $143,427 to Bangladesh $3,373 with respect to GDP per capita. The United States is ranked 7th.

The top 50 economies range from China $1.368 Billion to Czech Republic $314.6 Billion with respect to GDP PPP in Billions. The United States is ranked 2nd.

Country Name GDP (Billions, PPP) GDP per Capita (PPP) Designation
Qatar $320.5 $143,427 Mostly Free
Singapore $452.7 $82,762 Free
Norway $345.2 $66,937 Mostly Free
United Arab Emirates $599.8 $64,479 Mostly Free
Switzerland $472.8 $58,087 Free
Hong Kong SAR $397.5 $54,722 Free
United States $17,418.9 $54,597 Mostly Free
Saudi Arabia $1,605.7 $52,183 Moderately Free
Netherlands $798.6 $47,355 Mostly Free
Australia $1,095.4 $46,433 Free
Austria $395.5 $46,420 Mostly Free
Sweden $448.2 $45,986 Mostly Free
Germany $3,721.6 $45,888 Mostly Free
Taiwan $1,074.5 $45,854 Mostly Free
Canada $1,591.6 $44,843 Mostly Free
Belgium $481.5 $42,973 Moderately Free
France $2,580.8 $40,375 Moderately Free
United Kingdom $2,548.9 $39,511 Mostly Free
Japan $4,750.8 $37,390 Mostly Free
Italy $2,127.7 $35,486 Moderately Free
South Korea $1,778.8 $35,277 Mostly Free
Spain $1,566.4 $33,711 Moderately Free
Czech Republic $314.6 $29,925 Mostly Free
Poland $954.5 $25,105 Moderately Free
Russia $3,564.5 $24,805 Mostly Unfree
Malaysia $746.1 $24,654 Mostly Free
Kazakhstan $418.5 $24,020 Moderately Free
Chile $409.3 $22,971 Mostly Free
Argentina $947.6 $22,582 Repressed
Romania $392.8 $19,712 Moderately Free
Turkey $1,508.1 $19,610 Moderately Free
Mexico $2,140.6 $17,881 Moderately Free
Venezuela $538.9 $17,695 Repressed
Iran $1,334.3 $17,114 Repressed
Brazil $3,263.8 $16,096 Mostly Unfree
Thailand $985.5 $14,354 Moderately Free
Algeria $551.8 $14,259 Mostly Unfree
Colombia $640.1 $13,430 Mostly Free
South Africa $704.5 $13,046 Moderately Free
China $17,617.3 $12,880 Mostly Unfree
Peru $371.3 $11,817 Moderately Free
Egypt $943.1 $10,877 Mostly Unfree
Indonesia $2,676.1 $10,641 Mostly Unfree
Ukraine $370.8 $8,668 Repressed
Philippines $692.2 $6,962 Moderately Free
Nigeria $1,049.1 $6,031 Mostly Unfree
India $7,375.9 $5,855 Mostly Unfree
Vietnam $510.7 $5,635 Mostly Unfree
Pakistan $882.3 $4,736 Mostly Unfree
Bangladesh $533.7 $3,373 Mostly Unfree

Not all of the 50 are following the same strategy for their economy. For some that have not controlled government finances there are debt problems looming on the horizon that could do them in like the former soviet union. There are 30 of the 50 that are underperforming with respect to controlling annual deficit and total public debt listed in the following table. The United States is one of these 30.

Country Gov’t Spending Monetary Freedom Public Debt (% of GDP) Designation
Venezuela 56.7 33.8 45.6 Repressed
Argentina 51.3 44.0 48.6 Repressed
Iran 93.2 50.6 12.2 Repressed
Brazil 55.2 64.2 65.2 Mostly Unfree
Egypt 65.9 65.8 90.5 Mostly Unfree
Ukraine 30.6 66.9 71.2 Repressed
Vietnam 75.1 70.6 58.7 Mostly Unfree
China 74.3 70.6 41.1 Mostly Unfree
Pakistan 86.2 71.5 64.2 Mostly Unfree
India 78.1 72.8 65.0 Mostly Unfree
Norway 41.8 76.2 30.1 Mostly Free
United Kingdom 39.0 76.4 89.5 Mostly Free
Canada 50.4 76.9 86.5 Mostly Free
United States 54.7 77.0 104.8 Mostly Free
Mexico 76.4 77.4 50.1 Moderately Free
France 2.5 79.1 95.1 Moderately Free
Japan 46.2 81.2 246.4 Mostly Free
Austria 22.4 81.7 86.8 Mostly Free
Singapore 90.1 81.8 98.8 Free
Taiwan 88.7 83.2 37.6 Mostly Free
Germany 41.3 83.3 73.1 Mostly Free
Netherlands 34.4 83.4 68.3 Mostly Free
Belgium 11.0 84.0 105.6 Moderately Free
Czech Republic 47.3 84.1 41.6 Mostly Free
Italy 22.1 84.5 132.1 Moderately Free
Spain 41.1 84.7 97.7 Moderately Free
Poland 46.5 85.2 48.8 Moderately Free
Australia 62.0 85.2 34.3 Free
Sweden 14.9 87.1 41.5 Mostly Free
Switzerland 66.3 87.8 46.1 Free

The following table are the 20 who appear to have a handle on government financing. Some of these in this list may surprise you. The governments in police states could be toppled for not taking care of their security forces, but not for mishandling government financing.

Country Fiscal Freedom Tax Burden % of GDP Designation
Qatar 99.7 5.2 Mostly Free
Saudi Arabia 99.7 4.3 Moderately Free
United Arab Emirates 95.0 22.4 Mostly Free
Kazakhstan 93.0 14.0 Moderately Free
Hong Kong SAR 92.6 15.7 Free
Romania 87.5 27.2 Moderately Free
Nigeria 85.1 3.1 Mostly Unfree
Malaysia 85.0 15.8 Mostly Free
Indonesia 83.4 11.8 Mostly Unfree
Russia 82.2 34.8 Mostly Unfree
Thailand 81.1 16.2 Moderately Free
Algeria 81.0 12.2 Mostly Unfree
Colombia 80.1 16.5 Mostly Free
Philippines 79.0 13.3 Moderately Free
Peru 78.5 18.6 Moderately Free
Turkey 75.2 29.3 Moderately Free
Chile 74.8 20.2 Mostly Free
South Korea 73.8 24.3 Mostly Free
Bangladesh 72.7 9.0 Mostly Unfree
South Africa 70.1 24.7 Moderately Free

The following images are graphs that show how sometimes two governments start off about the same, and then one tweaks their economic policy and rises while the other one drops.

Germany Czech

Norway Bangladesh

Australia Madagascar

Malaysia Venezuela

In every year of George W. Bush’s second term the US was designated a free economy, and we have dropped from being the 6th best in the world to 11th best. In terms of GDP the US has dropped from first place to second place behind China.

The economic freedom rankings include low population city-states Hong Kong and Singapore, and they can always score higher than a country with a large population. However, there are countries with a large population who also have good freedom rankings and are financially sustainable.

Chile #7
United Arab Emirates #25
South Korea #27
Malaysia #29
Colombia #33

pilgrim
I am retired after 36 years of being a state of Indiana employee. I enjoy writing and reading conservative blogs.