In 2023, index of economic freedom for Colombia was 63.1 score. Over the last 9 years, index of economic freedom in Colombia was decreasing on average by 1.23% each year, although before that, it grew from 59.6 score in 2005 to 71.7 score in 2015.
The description is composed by our digital data assistant.Economic freedom is the fundamental right of every human to control his or her own labor and property. In an economically free society, individuals are free to work, produce, consume, and invest in any way they please, with that freedom both protected by the state and unconstrained by the state. In economically free societies, governments allow labor, capital and goods to move freely, and refrain from coercion or constraint of liberty beyond the extent necessary to protect and maintain liberty itself. 100 represents the maximum freedom.