They are also surrounded by enemies, and this ranking "utilizes over 50 individual factors to determine a given nation's PowerIndex ('PwrIndx') score with categ

They are also surrounded by enemies, and this ranking "utilizes over 50 individual factors to determine a given nation's PowerIndex ('PwrIndx') score with categories ranging from military might and financials to logistical capability and geography". Geography probably also explains other oddities like Sweden being at #25 and Finland at #59.