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Armenia ranked 70 in Global Competitiveness Index

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18.10.2018
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In the Global Competitiveness Index (2018) of the World Economic Forum (WEF), the Republic of Armenia ranked 70th.

On October 17 of this year, the World Economic Forum published the Annual Report on the Global Competitiveness Index 2018. According to the results of the 2018 rating, Armenia ranked 70th with an average score of 59.9.

In particular, of the 12 factors of competitiveness, the improvement occurred due to eleven factors, the decrease occurred only in one macroeconomic environment.

The competitive advantages of Armenia are the labor market - 33rd  place and the commodity market - 39th place. The weak positions of  Armenia are determined by the factors <Market size> - 118th place,  <Macroeconomic stability> - 89th place and <Financial system> - 87th  place and <Infrastructure> - 74th place. In the remaining positions,  Armenia occupies modest places from 60 - on <Innovative capital> to  67 positions on <Institutional Development>. On <Information and  Communication Technologies> Armenia occupies the 56th place.

Note that this year the rating was headed by the United States of  America, which is among the top three for the past 5 years. The leaders of the rating also remain Singapore, Germany, Switzerland, and  Japan. 

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