The World Economic Forum (WEF) has published its 2012-2013 Global Competitive Report which assesses the competitiveness landscape of 144 economies, providing insight into the drivers of their productivity and prosperity. According to WEF, the report series remains the most comprehensive assessment of national competitiveness worldwide.
The report findings show that Switzerland tops the overall rankings for the fourth consecutive year. Singapore remains in second position with Finland, in third position, overtaking Sweden 4th). These and other Northern and Western European countries dominate the top 10 with the Netherlands, Germany and United Kingdom respectively ranked 5th, 6th and 8th. The United States (7th), Hong Kong (9th) and Japan (10th) complete the top 10.
The large emerging market economies (BRICS) display different performances. Despite a slight decline in the rankings of three places, the People’s Republic of China (29th) continues to lead the group. Of the others, only Brazil (48th) moves up this year, with South Africa (52nd), India (59th) and Russia (67th) experiencing small declines in rankings.
Looking into sub-Saharan region, South Africa(52nd) remains the highest followed by Mauritius(54th) and Rwanda(63rd). Data shows that while some African economies improve with respect to national competitiveness this year, the region as a whole lags behind the rest of the world in competitiveness, requiring efforts across many areas to place the region on a firmly sustainable growth and development path going forward.