Armenia improves positions in Global Competitiveness Index

YEREVAN, OCTOBER 17, ARMENPRESS. Armenia is ranked 70th among 140 countries in the Global Competitiveness Index 2018 ranking which has been released by the World Economic Forum. Compared to the previous year, Armenia improved its positions by 2 points, reports Armenpress.

US leads the ranking with 85.6 points, is followed by Singapore – 83.5 points, Germany – 82.8, Switzerland – 82.6 and Japan – 82.5.

The competitiveness is assessed based on the analysis of 12 main indicators – state structures, infrastructures, macro-economic environment, figures in healthcare, education sectors, commodity market, efficiency of labor market, financial market development, technological preparedness and market volumes. Armenia has recorded progress in 11 out of 12 indicators.

Significant progress has been recorded in the figures of technological preparedness, healthcare, education, commodity market, labor market efficiency and innovative capacities levels. Regress was recorded only in terms of macro-economic figures.

Despite improvement of positions in the Global Competitiveness Index, Armenia is still behind the countries of the region. In particular, Azerbaijan is ranked 69th and Georgia – 66th. These two regional countries, however, recorded regress compared to the previous year.

Edited and translated by Aneta Harutyunyan