Bangladesh ranks 103rd out of 140 nations on global competitiveness list

17 Octobre, 2018, 12:22 | Auteur: Auguste Feret
  • Ireland ranks 23 in the World Economic Forum's Global Competitiveness Index out of 140 economies. Stock image

In its closely-watched annual Global Competitiveness Report, the WEF said the U.S.is the country closest to the "frontier of competitiveness", an indicator that ranks competitive productivity using a scale from zero to 100.

The top five countries were the U.S., Singapore, Germany, Switzerland, and Japan - all of whom saw their scores increase in 2017, The Wall Street Journal reported.

The country has fallen to 67 out of 140 countries, the World Economic Forum's (WEF's) "Competitiveness Report" for 2018-2019, released on Wednesday, showed.

The last time the US topped the list was 2008.

Among countries in the Association of Southeast Asian Nations (ASEAN), Singapore remains the most competitive, followed by Malaysia, Thailand, and Indonesia, and the Philippines. The top ten includes the Netherlands, Hong Kong, the U.K., Sweden, and Denmark. "It comes second in another two; innovation (behind Germany) and market size (behind China)".

Importantly, the plan needs to demonstrate a strong sense of collaboration between the public and private spheres, the different sectors in the economy and with other economies, he said. It performs less well in the adoption of information and communication technologies (ICT), finishing 31st, while under worker health and financial systems, it ranks well below most of its rich-country peers.

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The report measures national competitiveness - defined as the set of institutions, policies and factors that determine the level of productivity.

The report also weighs in on the now in-vogue topics of trade tensions and the ongoing backlash against globalization visited in several recent election results.

WEF said this year's rankings are not comparable to previous reports, as the organization transitioned to a new Competitiveness Index.

The Philippines also ranked low in terms of business dynamism, especially in the amount of time it takes to start a business, the cost of starting a business, and in insolvency recovery rates.

The WEF has been publishing global competitive reports since 1979, and according to its own mission, has been "providing policy-makers and other stakeholders around the world with an annual assessment of the drivers of long-term growth".

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