Ranked: The World’s Most Sustainable Economies in 2023

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Ranked: The World’s Most Sustainable Economies in 2023
Published 7 hours ago on October 24, 2023
By Marcus Lu
The following content is sponsored by The Hinrich Foundation


Ranked: The World’s Most Sustainable Economies in 2023
This infographic from The Hinrich Foundation introduces the 2023 edition
of the Sustainable Trade Index (STI), an annual ranking of 30 global
economies developed in conjunction with the IMD World Competitiveness
Center.

The purpose of the STI is to stimulate meaningful discussions about the
linkages between global trade and sustainability, serving as a practical
tool for governments, policymakers, and researchers.

Overall Ranking for 2023
The overall STI rankings, which are visualized in the first chart of
this infographic, are also shown in the table below.

The 2023 rankings are determined by averaging each economy’s performance
in three underlying pillars of sustainability (Economic, Societal, and
Environmental). Altogether, the three pillars are supported by 71
individual indicators.

Rank Economy 2023 Score Change in Rank
from 2022
1 🇳🇿 New Zealand 100.0 =
2 🇬🇧 United Kingdom 96.5 =
3 🇸🇬 Singapore 94.1 2
4 🇭🇰 Hong Kong, SAR 85.6 -1
5 🇦🇺 Australia 84.5 1
6 🇰🇷 South Korea 84.2 2
7 🇨🇦 Canada 82.1 =
8 🇯🇵 Japan 79.3 -4
9 🇺🇸 United States 77.2 =
10 🇹🇼 Taiwan 65.9 =
11 🇨🇱 Chile 64.4 =
12 🇵🇭 Philippines 61.4 =
13 🇻🇳 Vietnam 58.8 7
14 🇲🇾 Malaysia 58.1 =
15 🇲🇽 Mexico 53.8 1

ECONOMYSPONSORED POSTRanked: The World’s Most Sustainable Economies in 2023
Published 7 hours ago on October 24, 2023
By Marcus Lu
The following content is sponsored by The Hinrich Foundation





Ranked: The World’s Most Sustainable Economies in 2023
This infographic from The Hinrich Foundation introduces the 2023 edition
of the Sustainable Trade Index (STI), an annual ranking of 30 global
economies developed in conjunction with the IMD World Competitiveness
Center.

The purpose of the STI is to stimulate meaningful discussions about the
linkages between global trade and sustainability, serving as a practical
tool for governments, policymakers, and researchers.

Overall Ranking for 2023
The overall STI rankings, which are visualized in the first chart of
this infographic, are also shown in the table below.

The 2023 rankings are determined by averaging each economy’s performance
in three underlying pillars of sustainability (Economic, Societal, and
Environmental). Altogether, the three pillars are supported by 71
individual indicators.

Rank Economy 2023 Score Change in Rank
from 2022
1 🇳🇿 New Zealand 100.0 =
2 🇬🇧 United Kingdom 96.5 =
3 🇸🇬 Singapore 94.1 2
4 🇭🇰 Hong Kong, SAR 85.6 -1
5 🇦🇺 Australia 84.5 1
6 🇰🇷 South Korea 84.2 2
7 🇨🇦 Canada 82.1 =
8 🇯🇵 Japan 79.3 -4
9 🇺🇸 United States 77.2 =
10 🇹🇼 Taiwan 65.9 =
11 🇨🇱 Chile 64.4 =
12 🇵🇭 Philippines 61.4 =
13 🇻🇳 Vietnam 58.8 7
14 🇲🇾 Malaysia 58.1 =
15 🇲🇽 Mexico 53.8 1
PreviousNext
As in previous years, the most sustainable economies in the STI continue
to be those with relatively small populations and an above-average GDP
per capita.

The biggest decliner this year is Japan, which fell four places due to
its weaker performance in the Environmental pillar relative to 2022.

On the other hand, Vietnam climbed seven places. The Southeast Asian
country improved in all three aspects of the STI, with the biggest jump
in the Environmental pillar.

Individual Pillar Rankings
Here’s how each economy ranked in the three underlying pillars of the
STI. Do any of these results surprise you?

Economy GDP per Capita
(rank) Economic
(rank) Societal
(rank) Environmental
(rank)
🇦🇺 Australia 3 12 3 10
🇧🇩 Bangladesh 25 23 26 22
🇧🇳 Brunei 8 21 18 29
🇰🇭 Cambodia 28 17 22 11
🇨🇦 Canada 4 9 1 19
🇨🇱 Chile 13 13 11 14
🇨🇳 China 14 7 25 20
🇪🇨 Ecuador 19 24 16 18
🇭🇰 Hong Kong, SAR 5 3 10 7
🇮🇳 India 26 19 28 28
🇮🇩 Indonesia 20 18 23 9
🇯🇵 Japan 9 10 5 12
🇱🇦 Laos 27 29 19 6
🇲🇾 Malaysia 15 11 17 13
🇲🇽 Mexico 16 22 21 3
PreviousNext
Due to the structure of the Sustainable Trade Index, economies can only
rank highly if they perform well across all three of the underlying
pillars. This mirrors the reality of sustainability, where balancing
economic, social, and environmental priorities is critical.

Gain More Insights
This infographic was just a preview of what the Sustainable Trade Index
has to offer. To learn more, visit The Hinrich Foundation, where you can
download additional resources including the entire report for free.