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Bucharest
September 25, 2021
BUSINESS

Romania advances in global ranking of competitive nations

Romania’s competitiveness continues to improve this year as the country moved up 2 places to the 76th position out of 147 countries in the prestigious “The Global Competitiveness Report 2013-2014” ranking, a press release informs. By a maximum value of 7, the competitiveness index of Romania rose from 4.07 in 2012 to 4.13 this year. Before Romania are countries such as Poland (42), Czech Republic (46), Hungary (63) and Croatia (75), but ahead of countries like Slovakia (78), Republic of Moldova (89) and Greece (91). The index is based on 12 factors affecting the competitiveness. These are: institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, efficiency of the labor market, financial markets, market size, technological readiness, level of business development and innovation. The most competitive country was Switzerland, followed by Singapore, Finland, Germany and the United States, the press release states. Among the Asian economies, Indonesia jumped to 38th, making it the most improved of the G20 economies since 2006. South Korea fell six places to 26th. Conflict-ridden Syria does not figure in this year’s report because researchers were unable to gather needed data.   Egypt, another country in turmoil, dropped 11 places from last year’s index, to the 118th spot.

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