Armenia improves position in Global Competitiveness Report

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Armenia has improved its competitiveness index by 1.4 points in the Global Competitiveness Report 2019 released by the World Economic Forum. As a result, Armenia is ranked 69th in the list of 141 countries. Last year the country was ranked 70th in this list.

Armenia has recorded the highest figure in the pillar of the Labor Market, capturing the 32nd place in the list of 141 countries. At the same time, among the pillars the greatest progress was registered in the Macroeconomic Stability where Armenia is ranked 64th, which means that the country has improved its positions by 25 points against the previous report.

In the Financial System pillar, Armenia again improved its positions, capturing the 69th place.

According to the report, regress has been registered in the Product Market pillar, where Armenia’s positions have declined by 5 points.

In the group of the countries of the Eurasian region, Azerbaijan recorded progress by 11 points, Kazakhstan by 4 points, Moldova by 2 and Kyrgyzstan by 1. Among the countries that recorded regress are Georgia (8 points), Tajikistan (2) and Ukraine (2). Russia has maintained its position and is ranked 43rd.

Countries closer to Armenia with the Global Competitiveness Index are Vietnam, India, Jordan and Brazil.

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