Latvia is considered the 51st most competitive country in the world this year, as opposed to 35th the year prior. This is the worst result among Baltic states, according to results of annual study by the Centre for Global Competitiveness of the Swiss-based International Institute for Management Development (IMD).
This study covered 64 countries of the world.
This year Lithuania is on the 32nd place in this competitiveness index. This country dropped by three positions when compared with the year prior.
Estonia has dropped by four positions. This Baltic country is considered the 26th most competitive country in the world.
According to IMD, the world’s most competitive country this year, like the last, is Denmark. Ireland is 2nd, followed by Switzerland (3rd). Singapore is 4th and Holland is 5th. The Top 10 also includes Hong Kong, Sweden, US and the United Arab Emirates.
Europe’s biggest economy Germany has dropped by seven positions this year and now has 22nd place in the index. China has dropped from 17th to 21st.
The poorest result among EU member states is held by Slovakia, which is 53rd.
The last three spots are taken by Venezuela (64th), Argentina (63rd) and Mongolia (62nd).
The study, which is published annually since 1989, takes into account 335 criteria, including macroeconomic indexes, as well as interviews with businessmen, government officials and academics in the surveyed countries.
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