IMD World Competitiveness Booklet 2020

Conversely, Lithuania drops from 29 th to the 31 st spot. In fact, several countries experience a minimal decline in this region. Poland moves down one place from 38 th to the 39 th , Latvia from 40 th to 41 st and Ukraine from 54 th position to 55 th . Furthermore, Romania moves down from 49 th place to 51 st and the Slovak Republic declines from 53 rd place to 57 th . European countries experience no movement in their rankings. The Czech Republic remains in 33 rd position, Hungary in 47 th , Bulgaria in 48 th and Croatia, ranking the lowest in the region, holds the 60 th spot. Several Eastern Kazakhstan shows the largest drop in the overall ranking declining from 34 th place to 42 nd . This is partly because of the country’s deficient performance in international trade and investment, employment, labor market and in the institutional and societal frameworks. Russia also declines from 45 th spot to 50 th . Conversely, Mongolia slightly improves, taking the 61 st spot (compared to its previous 62 nd ). Ex-CIS and Central Asia

South America

Chile remains the highest-ranked country in the South American sub- region at 38 th position (improving from its former 42 nd spot). The country displays improvements in its public finance, business legislation, labor market and management practices. Likewise, Peru and Brazil experience an increase from 55 th position to 52 nd and from 59 th to 56 th , respectively. Conversely, Colombia declines from 52 nd to 54 th and Argentina from 61 st place to 62 nd . Venezuela remains at the bottom of the overall ranking. The UAE leads this sub-region despite the competitiveness decline it experienced this year (as discussed previously). Saudi Arabia improves, reaching 24 th position, up from the 26 th , mainly because of a strong performance in employment, public finance, business legislation and its technological and scientific infrastructures. Turkey also increases in the rankings to 46 th place (from 51 st ). Conversely, Qatar declines to 14 th place from 10 th and Israel drops to 26 th (from 24 th ). Likewise, Jordan moves down from 57 th to 58 th and South Africa from 56 th to 59 th position. Western Asia and Africa

North America

Canada leads this sub-region, ranking 8 th . The USA follows in 10 th spot. Mexico experiences a decline moving down from 50 th to 53 rd .

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IMD WORLD COMPETITIVENESS BOOKLET 2020