Today.Az » Business » Azerbaijan rises sharply in competitiveness ranking for 2009-2010
08 September 2009 [16:17] - Today.Az
Azerbaijan ranks 51st at a rating of competitiveness for 2009-2010.
According to the Web site of the World Economic Forum (WEF), at a competitiveness rating designed by WEF for 2009-2010 Azerbaijan has sharply improved ranking compared to the 2008-2009 figures. So, the country improved ranking from 69th to 51st place.
In all post-Soviet area Azerbaijan is second only to indicators of Estonia which ranks 35th. Other ex-Soviet states rank as follows: Lithuania (53), Russia (63), Ukraine (82), Kazakhstan (67) and Latvia (68), Georgia (90). As in the past year, Tajikistan (122) and Kyrgyzstan (123) close the list.
Due to the economic crisis that have hurt the economies of all post-Soviet countries, the ratings of all the Baltic countries and most CIS states except Azerbaijan, who jumped 18 places up, have worsened.
Armenia again ranked 97th in terms of economic competitiveness as a year ago.
The most competitive country in the world is Switzerland which left behind the U.S. indicator which dropped to the 2nd place because of the “weakening financial markets and macroeconomic stability.” The five leaders also include Singapore, Sweden and Denmark. Ten top ten still includes European countries, that is Finland (6), Germany (7) and the Netherlands (10).
The ratings are based on a combination of publicly available statistics and results of survey of CEOs and an extensive annual survey conducted by the World Economic Forum together with its partners (leading research institutes and companies) in the countries analyzed in the report.
This year more than 13, 000 business leaders in 133 countries were polled. Questionnaire is designed to cover a wide range of factors affecting business climate of economies. The report also included a detailed review of the strengths and weaknesses of countries' competitiveness, making it possible to identify priority areas for policy development and key economic reforms.
Global Competitiveness Index, GCI was the major rating in the Report on the Global Competitiveness Index developed for the World Economic Forum by Professor Sala-i-Martin and first introduced in 2004. GCI includes 12 terms of competitiveness and a comprehensive assessment, a sort of “competitive landscape” of world countries at different stages of economic development.
Terms are ‘Social institutions’, ‘Infrastructure’, ‘Macroeconomic stability’, ‘Health and Primary Education’, ‘Higher Education and Training’, ‘The Effectiveness of Market Goods and Services’, ‘Labor Market Efficiency’, ‘Development of Financial Market’, ‘The Technological Level’, ‘The Size of the Market’, ‘The Competitiveness of Companies’ and ‘Innovation Potential.’
/Day.Az/
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