The Heritage Foundation has released the 2010 Index of Economic Freedom, which measures the various different types of fiscal and economic freedoms (such as business freedom, fiscal freedom, free trade and property rights) in 138 countries. Lithuania’s economic freedom score is 70.3, making its economy the 29th freest in the 2010 Index.

Lithuania is ranked 15th out of 43 countries in the Europe region, and its overall score is well above the world and regional averages. Lithuania’s overall score is 0.3 point higher than last year, reflecting improved scores in four of the 10 economic freedoms.

10 Economic Freedoms of Lithuania

The authors of the 2010 Index comment on Lithuania’s performance as follows:

“Economic and structural reforms have facilitated Lithuania’s transition into a modern and flexible economy. Open to global trade and investment, Lithuania enjoys high degrees of business freedom, fiscal freedom, and financial freedom. The private sector accounts for about 80% of GDP and has driven steady economic growth at annual rates close to 7% over the past five years. That growth has come to a stop as a result of the global financial crisis, although Lithuania has weathered the turmoil better than some other countries have. Regulation is relatively transparent and efficient. The financial sector is advanced, regionally integrated, and subject to few intrusive restrictions.”

For more information on Lithuania’s assessment visit http://www.heritage.org/index/country/lithuania

Here are the top 10 most free economies in the word:

1. Hong Kong
2. Singapore
3. Australia
4. New Zealand
5. Ireland
6. Switzerland
7. Canada
8. United States
9. Denmark
10. Chile