The economic freedom rank of the Philippines declined from 70th (out of 180 countries) spot in 2019 to 73rd (out of 178 countries) in 2020 with a score of 64.1 points. This still placed the Philippines in the moderately free economy category, which refers to a geographically and economically diverse group of economies having a score which is above the world average in the economic freedom index. Other categories include free, mostly free, mostly unfree, and repressed economies.
