Friday, September 9, 2011

Global Competitiveness Index 2011-2012

Two days ago, the Word Economic Forum (WEF) released its 2011-2012 Global Competiveness Index. Switzerland retained its top spot for the third consecutive year. The highest ranking Asian country is Singapore, which moved up one rank to the second position. Despite its massive economic problems, the United States still came in at No. 5.

Australia slipped 4 places from Rank 16th to 20th. The WEF commented that Australia was lagging in innovation (22nd), business sophistication (29th) and transport infrastructure, particularly seaports, which has come under strain in recent years from intensifying trade in commodities. The strengths are its efficient financial system (6th), sound and stable banking sector (4th), very good and improving performance in education (11th) and transparent, efficient public and private institutions (ranked 17th and 8th respectively).

The table below shows the top 30 rankings.

Rank
(2011-2012)
Country/EconomyScoreRank
(2010-2011)
Change
1Switzerland5.7410
2Singapore5.6331
3Sweden5.612-1
4Finland5.4773
5United States5.434-1
6Germany5.415-1
7Netherlands5.4181
8Denmark5.4091
9Japan5.406-3
10United Kingdom5.39122
11Hong Kong 5.36110
12Canada5.3310-2
13Taiwan5.26130
14Qatar5.24173
15Belgium5.20194
16Norway5.1814-2
17Saudi Arabia5.17214
18France5.1415-3
19Austria5.1418-1
20Australia5.1116-4
21Malaysia5.08265
22Israel5.07242
23Luxembourg5.0320-3
24South Korea5.0222-2
25New Zealand4.9323-2
26China4.90271
27United Arab Emirates4.8925-2
28Brunei 4.78280
29Ireland 4.77290
30Iceland4.75311

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