​Azerbaijan raised in the world ranking of economic competitiveness

Baku. 3 September. REPORT.AZ/ Azerbaijan has improved its position in the annual ranking of the world's economies in 2014-2015, compiled by the World Economic Forum (WEF). Report informs, this year Azerbaijan took the 38th place in the list, up one position from last year.

If Azerbaijan was on the 57th place in 2010-2011 of competitiveness ranking; in 2011-2012 - on the 55th, in 2012-2013 - on the 46th; so in 2013-2014 the country took the 39th place.

Azerbaijan has been a leader in the CIS on competitiveness index for the sixth time, followed by Kazakhstan (50th place), Russia (53), Ukraine (76), Armenia (85). Turkey is located on the 45th place in the rankings, Georgia - on the 69th.

Switzerland is on the top of the ranking of competitiveness, as it was last year. The top three also includes Singapore and the United States.

In calculating the index of competitiveness for each country WEF uses 12 basic indicators - the quality of institutions, infrastructure, macroeconomic stability, health and primary education, higher education and training, goods market efficiency, labor market efficiency, financial market development, technological level, the volume of the internal market competitiveness of companies, the innovation potential.