Numerous indicators and ratings aimed at assessing and comparing states based on different criteria, such as volume of gross domestic product (GDP), freedom of speech, gender equality, or attractiveness of local cuisine, have become an integral part of contemporary communications and international relations. Country rankings can be used as a basis for agenda setting, political influence, or developing approaches to global governance. National governments sometimes use rankings developed by international intergovernmental and non-governmental organizations, or in some cases by business entities, as benchmarks for their countriesʼ development and national scorecards and indexes. Or, if the ratings are considered unsatisfactory, governments can distance themselves from such reports, accusing their authors of political bias. Lately, the phenomena of international indicators and ratings, the principles behind their development, and their influence and usage in the context of global governance have attracted attention of researchers specializing in international relations and other social science disciplines. This article examines different theoretical approaches to analyzing the phenomena of indexes and ratings and provides evaluation of the phenomena. The author focuses on the premises for the increasing interest in comparative approaches and emergence of newly developed ratings and indexes, highlights limitations and weaknesses of such approaches, and examines new trends in the field and possible scenarios of its future development in the context of current global transformations.