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ECONOMY

Azerbaijan ranks 55th in Global Competitiveness Report

07.09.2011 [16:14]
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Baku, September 7 (AZERTAC). Azerbaijan ranked 55th in the overall rankings in the Global Competitiveness Report.

The Global Competitiveness Report 2011-2012, comes out amid multiple challenges to the global economy and a continuing shift in the balance of economic activity away from advanced economies and toward emerging markets. Policymakers are struggling to find ways to manage the present economic challenges while preparing their economies to perform well in an increasingly complex global landscape and the report offers a unique tool in addressing some key issues.

This year’s report findings show that Switzerland tops the overall rankings. Singapore overtakes Sweden for second position. Northern and Western European countries dominate the top 10 with Sweden (3rd), Finland (4th), Germany (6th), the Netherlands (7th), Denmark (8th) and the United Kingdom (10th). Japan remains the second-ranked Asian economy at 9th place, despite falling three places since last year.

Among the post-Soviet states, Estonia ranked 33rd, Lithuania 44th, Russia 66th, Kazakhstan 72nd and Ukraine 82nd.

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