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Julia Wendling
2024-10-22 12:53:00
www.visualcapitalist.com
Ranked: The World’s Most Sustainable Economies in 2024
This infographic from the Hinrich Foundation introduces the 2024 edition of the Sustainable Trade Index (STI). The STI is an annual ranking of 30 select global economies developed along with the IMD World Competitiveness Center.
The purpose of the STI is to stimulate meaningful discussions about the linkages between global trade, sustainability, and resilience, serving as a practical tool for governments, policymakers, and researchers.
Overall Ranking for 2024
The overall STI rankings, which are visualized in the first chart of this infographic, are also shown in the table below.
The 2024 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 72 individual indicators. The Universal Health Coverage indicator was newly added to the STI in 2024.
| Rank | Economy | 2024 Score | Change in Rank from 2023 |
|---|---|---|---|
| 1 |  New Zealand |
100.0 | = |
| 2 |  United Kingdom |
97.7 | = |
| 3 |  Australia |
87.4 | +2 |
| 4 |  Singapore |
85.7 | -1 |
| 5 |  Japan |
81.5 | +3 |
| 6 |  South Korea |
81.4 | = |
| 7 |  Hong Kong |
81.4 | -3 |
| 8 |  Canada |
80.0 | -1 |
| 9 |  Taiwan |
72.3 | +1 |
| 10 |  United States |
72.2 | -1 |
| 11 |  Chile |
63.9 | = |
| 12 |  Thailand |
55.4 | +5 |
| 13 |  Philippines |
54.8 | -1 |
| 14 |  Vietnam |
54.1 | -1 |
| 15 |  Malaysia |
52.7 | -1 |
| 16 |  China |
50.9 | = |
| 17 |  Mexico |
48.9 | -2 |
| 18 |  Indonesia |
45.3 | +1 |
| 19 |  Cambodia |
42.4 | -1 |
| 20 |  Peru |
36.0 | +1 |
| 21 |  Ecuador |
32.9 | -1 |
| 22 |  Laos |
25.0 | = |
| 23 |  India |
24.0 | +1 |
| 24 |  Brunei |
22.1 | +2 |
| 25 |  Bangladesh |
21.3 | -2 |
| 26 |  Sri Lanka |
16.8 | -1 |
| 27 |  Myanmar |
11.1 | -2 |
| 28 |  Pakistan |
3.7 | -1 |
| 29 |  Papua New Guinea |
3.2 | -1 |
| 30 |  Russia |
0.0 | = |
New Zealand and the UK kept their #1 and #2 spots again in 2024.
Australia made relatively large improvements in the Environmental pillar (moving up from 10th to 6th place from 2023 to 2024) and the Economic pillar. As a result, the country moved from fifth to third place on the overall STI ranking, surpassing Hong Kong and Singapore.
Japan also leapt from 8th place in 2023 to 5th place this year. The country saw the largest improvement in the Environmental pillar, where it rose to 4th place from 12th last year.
Conversely, Hong Kong saw its ranking slide from 4th in 2023 to 7th place in 2024.
Individual Pillar Rankings
Here’s how each economy ranked in the three underlying pillars of the STI.
| Economy | GDP per Capita (rank) | Economic (rank) | Societal (rank) | Environmental (rank) |
|---|---|---|---|---|
| Singapore |
1 | 2 | 6 | 10 |
| United States |
2 | 4 | 9 | 16 |
| Australia |
3 | 10 | 3 | 6 |
| Canada |
4 | 8 | 2 | 18 |
| Hong Kong |
5 | 1 | 10 | 7 |
| United Kingdom |
6 | 6 | 4 | 2 |
| New Zealand |
7 | 7 | 1 | 1 |
| Brunei |
8 | 21 | 17 | 29 |
| Japan |
9 | 11 | 8 | 4 |
| South Korea |
10 | 3 | 7 | 15 |
| Taiwan |
11 | 9 | 5 | 17 |
| Chile |
12 | 15 | 11 | 11 |
| Russia |
13 | 25 | 22 | 30 |
| Mexico |
14 | 22 | 21 | 5 |
| Malaysia |
15 | 14 | 15 | 14 |
| China |
16 | 5 | 24 | 20 |
| Peru |
17 | 20 | 18 | 25 |
| Thailand |
18 | 12 | 12 | 19 |
| Ecuador |
19 | 23 | 13 | 21 |
| Indonesia |
20 | 17 | 20 | 12 |
| Vietnam |
21 | 13 | 14 | 13 |
| Philippines |
22 | 19 | 19 | 3 |
| Sri Lanka |
23 | 29 | 16 | 23 |
| Bangladesh |
24 | 24 | 26 | 22 |
| Papua New Guinea |
25 | 26 | 30 | 27 |
| India |
26 | 16 | 28 | 28 |
| Cambodia |
27 | 18 | 25 | 9 |
| Laos |
28 | 28 | 23 | 8 |
| Pakistan |
29 | 30 | 27 | 24 |
| Myanmar |
30 | 27 | 29 | 26 |
Interestingly, GDP per capita has a positive correlation with Economic and Societal pillar rankings. However, there is almost no correlation between GDP per capita and the Environmental pillar.
For example, the Philippines ranked in 3rd place for the Environmental pillar, but only 22nd for GDP. Conversely, the U.S., which is ranked 16th place for the Environmental pillar, has the second highest GDP per capita of this group.
Gain More Insights
This infographic is 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.
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The post Ranked: The World’s Most Sustainable Economies in 2024 appeared first on Visual Capitalist.
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