Macau’s economy is the freest of Lusophone territories and ranks ninth among Asia-Pacific regions, according to the Heritage Foundation’s annual report released today.
The Index of Economic Freedom 2019 places Macao in the 34th place in the ranking, with 71 points, well above the rest of the Portuguese-speaking world: Cape Verde (73rd), Sao Tome and Principe (134th), Guinea-Bissau (135), Brazil (150), Angola (156), Mozambique (163), and Timor-Leste (172).
Macau is also ahead of Portugal, which this year occupies the 62nd place.
On the other hand, among the 43 Asia-Pacific regions, the small territory that lived more than 400 years under Portuguese administration appears in ninth, after Hong Kong, Singapore, New Zealand, Australia, Taiwan, Malaysia, South Korea and Japan.
Hong Kong leads the ranking, contrasting strongly with mainland China, which ranks 100th in the list of 180 countries. Venezuela is in the penultimate position, ahead of only North Korea.
The Index of Economic Freedom distributes countries by five sections: “free” (80 to 100 points), “almost free” (70 to 79.9), “moderately free” (60 to 69.9), ” “(50 to 59.9) and” repressed “(40 to 49.9).
According to the Monetary Authority of Macao, the region has been classified in the last 11 years as a “moderately free” economy.