Armenia improves ranking in Global Competitiveness Report 2018

Armenia is ranked 69th (up from 70nd last year) among 141 countries in the Global Competitiveness Report 2019 released by the World Economic Forum (WEF) today.

Armenia’s neighbors Georgia and Azerbaijan are placed 74th and 58th respectively, Turkey is 61st, Iran is 99th.

Armenia’s partners in the Eurasian Economic Union Russia and Kazakhstan are ranked 43rd and 55th respectively. Kyrgyzstan is 96th, no data is available about Belarus.

Singapore is the world’s most competitive economy in 2019, overtaking the United States, which falls to second place. Hong Kong SAR (3rd), Netherlands (4th) and Switzerland (5th) round up the top five.

The index maps the competitiveness landscape of 141 economies through 103 indicators organized into 12 themes. Each indicator, using a scale from 0 to 100, shows how close an economy is to the ideal state or “frontier” of competitiveness.

The pillars, which cover broad socio-economic elements are: institutions, infrastructure, ICT adoption, macroeconomic stability, health, skills, product market, labour market, the financial system, market size, business dynamism and innovation capability.

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