Luxembourg ranks third in the ICC’s Open Markets Index of 2017
In July 2017, the International Chamber of Commerce (ICC) published a new edition of its Open Markets Index (OMI) study.
The study compares the openness to international trade of 75 countries worldwide.
There are four main areas of focus which are further divided into 23 indicators:
1. Observed openness to trade
2. Trade policy settings
3. Foreign direct investment (FDI) openness
4. Trade-enabling infrastructure
The scale goes from 1 (least open) to 6 (most open).
These are the overall results for Luxembourg:
Overall, Luxembourg ranks 3rd out of 75 economies in the ICC Open Markets Index 2017 which is a very good result. Only Singapore (1st) and Hong Kong (2nd) are better.
Further information an the full report can be found on the website of the ICC (https://iccwbo.org/publication/icc-open-markets-index-2017/)