IMD WORLD
COMPETITIVENESS
YEARBOOK
2019
IMD WORLDCOMPETITIVENESSCENTER
June 2019IMD WORLD COMPETITIVENESS YEARBOOK 2019
ISBN-13 978-2-9701085-4-2ISSN 1026-2628
Copyright © 2019IMD – International Institute for Management Development23, Ch. de BelleriveP.O. Box 915CH-1001 LausanneSwitzerland
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IMD WORLD COMPETITIVENESS YEARBOOK 2019 3
Preface
This year, the IMD World Competitiveness Yearbook is launched at a decisive moment. In the current highly interconnected and rapidly changing international system, economies are affected by issues ranging from reservations over globalization to skepticism over automation, from the challenge of sustainability to that of implementation. In the medium-term, changes in the international political landscape and tensions in global trade have had a strong impact on the world’s economies. These trends have led to high levels of uncertainty in global markets that ultimately affect the competitiveness of countries.
In the IMD World Competitiveness Yearbook 2019 we continue our mission to advance the understanding and knowledge of competitiveness. Competitiveness is a comprehensive and holistic concept. It evaluates the extent to which a country fosters an environment where enterprises can achieve sustainable growth, generate jobs and, ultimately, increase welfare for its citizens.
How do economies react to the current uncertain times? After perusing the profiles of the 63 economies we study, one realizes that there is not just one path towards advancing competitiveness. Highly competitive economies share an above the average performance across all competitiveness factors. However, their competitiveness portfolio varies: one economy at a given time may pursue a tangible and intangible infrastructure competitiveness strategy, while another may focus on governmental efficiency like business legislation or inclusive institutions. In other words, a ‘one-size-fits-all’ recipe to improve competitiveness simply does not exist.
A unifying theme, however, for the competitive economies is the quality of institutions. A strong institutional framework provides the stability for business to invest and innovate, ensuring a higher quality of life for citizens. This is the main topic we explore in the opening essay of this edition.
As always, we are grateful for the assistance we experienced from many stakeholders. Our Partner Institutes carefully and meticulously collected the necessary data. Our Panel of Experts, as well as many members of the IMD Alumni community from the countries included in this volume, continued to support us in many steps of the process. Last, but not least, the IMD community, faculty and staff, generously contributed with feedback, insights and encouragement in many parts of the project. We are indebted and thankful.
Professor Arturo BrisDirectorIMD World Competitiveness Center
Dr Christos CabolisChief Economist & Head of OperationsIMD World Competitiveness Center
IMD WORLDCOMPETITIVENESSCENTER
Table of ContentsPreface ................................................................................................................................................................3
The IMD World Competitiveness Center ............................................................................................................. 7
Partner Institutes .................................................................................................................................................8
User G uide ........................................................................................................................................................14
Overall and Breakdown Rankings .............................................................................................................15
ompetitiveness ountry rofiles .............................................................................................................16
Statistical Tab les ........................................................................................................................................21
Essay: Institutions, Social Openness and Competitiveness Trends in 2019 ....................................................22
Rankings in a nutshell .......................................................................................................................................33
The 2019 IMD World Competitiveness Ranking .......................................................................................34
Methodology in a Nutshell .........................................................................................................................36
What is the IMD World Competitiveness Ranking? ...................................................................................37
Selected Breakdowns ................................................................................................................................38
ompetitiveness country profiles.......................................................................................................................53
Statistical tab les ..............................................................................................................................................307
Overall Scoreb oard .................................................................................................................................308
Statistical tab les Factor I: Economic performance .................................................................................. 311
tatistical tables actor II overnment efficiency ..................................................................................359
tatistical tables actor III usiness efficiency .......................................................................................401
Statistical tab les Factor IV: Infrastructure ................................................................................................443
Appendices ......................................................................................................................................................503
riteria cluded rom rofiles ...............................................................................................................504
International and Regional Organizations ...............................................................................................505
National Sources .....................................................................................................................................507
Notes and Sources b y Criteria ................................................................................................................512
Index to Criteria .......................................................................................................................................542
IMD WORLD COMPETITIVENESS YEARBOOK 20194
Argentina .............................................................. 54Australia................................................................ 58Austria .................................................................. 62Belgium................................................................. 66Brazil..................................................................... 7 0Bulgaria ................................................................ 7 4Canada ................................................................. 7 8Chile ..................................................................... 82China .................................................................... 86Colomb ia .............................................................. 90Croatia .................................................................. 94Cyprus .................................................................. 98Czech Repub lic .................................................. 102Denmark ............................................................. 106Estonia.................................................................110Finland .................................................................114France .................................................................118G ermany ............................................................. 122G reece ................................................................ 126Hong Kong SAR ................................................. 130Hungary .............................................................. 134Iceland ................................................................ 138India .................................................................... 142Indonesia ............................................................ 146Ireland................................................................. 150Israel ................................................................... 154Italy ..................................................................... 158Ja pan .................................................................. 162Jo rdan................................................................. 166Kazakhstan ......................................................... 17 0Korea Rep. ......................................................... 17 4Latvia .................................................................. 17 8
Lithuania ............................................................. 182Luxemb ourg........................................................ 186Malaysia ............................................................. 190Mexico ................................................................ 194Mongolia ............................................................. 198Netherlands ........................................................ 202New Z ealand ...................................................... 206Norway ............................................................... 210Peru .................................................................... 214Philippines .......................................................... 218Poland ................................................................ 222Portugal .............................................................. 226Q atar................................................................... 230Romania ............................................................. 234Russia................................................................. 238Saudi Arab ia ....................................................... 242Singapore ........................................................... 246Slovak Repub lic .................................................. 250Slovenia .............................................................. 254South Africa ........................................................ 258Spain .................................................................. 262Sweden............................................................... 266Switzerland ......................................................... 27 0Taiwan, China ..................................................... 27 4Thailand .............................................................. 27 8Turkey ................................................................. 282UAE .................................................................... 286Ukraine ............................................................... 290United Kingdom .................................................. 294USA .................................................................... 298Venezuela ........................................................... 302
Competitiveness Country Profiles
IMD WORLD COMPETITIVENESS YEARBOOK 2019 5
The IMD World Competitiveness CenterF or thirty ye ars, the IMD World Competitiveness Center has pioneered research on how countries and companies compete to lay the foundations for sustainable value creation. The competitiveness of nations is probably one of the most significant developments in modern management and IMD is committed to leading the field. The World Competitiveness Center conducts its mission in cooperation w ith a netw ork of 5 6 Partner Institutes w orldw ide to provide the g overnment, business and academic communities w ith the follow ing services:
• Competitiveness Special Reports• Competitiveness Prognostic Reports• Workshops/Mega Dives on competitiveness• IMD World Competitiveness Yearb ook• IMD World Digital Competitiveness Ranking
• IMD World Talent Ranking
The IMD World Competitiveness Center team:
At IMD Professor Arturo Bris Director of The IMD World Competitiveness Center Christos Cab olis Chief Economist & Head of Operations J osé Cab allero Senior Economist Maë lle Desard Marketing Specialist Madeleine Hediger Data Research and Online Services Specialist Catherine J ob in Order and Sales Administrator William Milner Research Proj ects Associate Manager Marco Pistis Research Specialist Maryam Z argari Research Specialist At KAESCO J ean-Franç ois KaeserConsulting
We also have the privilege of collab orating with a unique network of Partner Institutes, and other organizations, which guarantees the relevance of the data gathered.
Contact:Tel: + 41 21/618 02 51E-mail : [email protected]: www.imd.org/wcc
IMD WORLD COMPETITIVENESS YEARBOOK 2019 7
IMD WORLD COMPETITIVENESS YEARBOOK 20198
Partner Institutes
We would like to express our deep appreciation for the contrib ution of our Partner Institutes, enab ling an extensive coverage of competitiveness in their home countries. The following Institutes and people supplied data from national sources and helped distrib ute the survey questionnaires:
Argentina
Research Program on Economic Development and Institutions Faculty of Economic SciencesCatholic University of Argentina, Buenos Aireshttp://www.uca.edu.ar
Dr. Alicia Cab allero, DeanDr. Marcelo F. Resico, Senior EconomistMr. Ignacio Ramaglio, Research Assistant
Australia
CEDA – Committee for Economic Development of Australiawww.ceda.com.au
Ja rrod Ball, Chief Economisto anne unton, Director, ternal Affairs
Austria
Federation of Austrian Industries, ViennaAustrian Institute of Economic Research, Viennahttp://www.iv-net.at
Dr. Christian Helmenstein, Chief EconomistMs. Helena Z wicklMr. Michael Oliver
Belgium
FEB - Federation of Enterprises in Belgium, Brusselswww.vb o-feb .b e
Ms. Carole Demb our, Economist
Brazil
Fundaçã o Dom Cab ral, Innovation and Entrepreneurship Centerhttps://www.fdc.org.b r/
Carlos Arruda, Professor and Director FDC Innovation and Entrepreneurship CenterAna Burcharth, ProfessorDeb ora Rodrigues Dias, Researcher
Bulgaria
enter for the tudy of Democracy, ofiawww.csd.b g
Mr. Ruslan Stefanov, Director, Economic ProgramMs. Daniela Mineva, Research Fellow, Economic ProgramMr. Martin Vladimirov, Analyst, Economic ProgramDr. Todor G alev, Senior Analyst, Economic Program
Canada
Information and Communications Technology Council ( ICTC)www.ictc-ctic.ca
Ms. Alexandra Cutean, Director Research & Policy
Chile
Universidad de ChileFacultad de Economí a y Negocios ( FEN)www.fen.uchile.cl
Dr. Enrique Manzur, Vice DeanDr. Sergio Olavarrieta, Associate ProfessorDr. Pedro Hidalgo, Associate Professor
China
China Institute for Development Planning, Tsinghua University
Prof. Yang Yongheng, Associate Dean of School of Pub lic Policy & Management, Executive Associate Director of China Institute for Development PlanningProf. Wang Youqiang, Associate Director of China Institute for Development PlanningDr. G ong Pu, Research Fellow
IMD WORLD COMPETITIVENESS YEARBOOK 2019 9
Mr. Wang Hongshuai, PhD CandidateMs. Z hang Ruij un, PhD CandidateMs. Song Wenj uan, PhD CandidateMs. Ji ang X ueying, PhD CandidateMr. Wang Ji ancheng, PhD Candidate
Colombia
National Planning Departmenthttps://www.dnp.gov.co/DNPN/Paginas/default.aspx
G loria Amparo Alonso Má smela, Director, National Department of PlanningJu an Seb astiá n Rob ledo Botero, Director, Innovation and Private Sector Development
Croatia
National Competitiveness Councilhttp://konkurentnost.hr/en/
Ivica Mudrinic, PresidentJa dranka G ab le, AdvisorKresimir Ju rlin,, PhD, Researcher
Cyprus
Economics Research Centre, University of CyprusURL http://ucy.ac.cy/erc/en/
Sofronis Clerides, Professor of EconomicsNicoletta Pashourtidou, Assistant Director
ofia Andreou, esearch fficer
Czech Republic
onsumer orum pot ebitelsk f rumwww.spotreb itelskeforum.cz
Dr. Kryšt of Kruliš
Denmark
Confederation of Danish Industryhttps://di.dk/English/Pages/English.aspx
Allan Sø rensen, Chief analyst
Estonia
Estonian Institute of Economic Research ( EKI)www.ki.ee
Enterprise Estonia ( EAS)
Ms. Marj e Jo sing, Director
Mr. Tanel Reb ane, Director of Trade Development Agency
Finland
ETLA - The Research Institute of the Finnish Economywww.etla.fi
Ville Kaitila, ResearcherMarkku Lehmus, Head of ForecastingAki Kangasharj u, Managing Director
France
Business France, Parishttp://en.b usinessfrance.fr/
Ms. Sylvie Montout, Economist
Greece
Federation of Industries of G reece ( SBE) , Thessaloniki
Foundation for Economic and Industrial Research ( FEIR/IOBE) , Athens
Dr. Christos G eorgiou, Director, Research and Documentation DepartmentMr. Constantinos Styliaras, Economist, Research and Documentation Department
Aggelos Tsakanikas, Assistant Professor National Technical University of Athens - Head of Entepreneurship Ob servatory Sophia Stavraki, Research Associate
Hong Kong SAR
Hong Kong Trade Development Councilwww.hktdc.com
Mr. Billy Wong, Deputy Director of ResearchMs. Doris Fung, Economist
IMD WORLD COMPETITIVENESS YEARBOOK 201910
Hungary
ICEG European Center, Budapesthttp://icegec.org
National University of Pub lic Service,Competitiveness and Fiscal Stab ility Research G roup, Budapest - http://en.uni-nke.hu/
Ms. Renata Anna Ja ksa, DirectorDr. Oliver Kovacs, Senior Research Fellow
Prof. Dr. Magdolna Csath, Research Professor
Iceland
Icelandic Chamb er of Commerce, Reykj avikwww.chamb er.is
Mr. Konrad S. G udj onsson, Chief EconomistMr. Isak Einar Runarsson, Economic Analyst
India
National Productivity Council, New Delhiwww.npcindia.gov.in
Dr.K.P.Sunny, Director & Head ( Economic Services)Mr.Raj esh Sund, Deputy Director ( Economic Services)Dr.Raj at Sharma, Deputy Director ( Economic Services)
Indonesia
Lemb aga Management, Faculty of Economics and Business, University of Indonesia, Ja kartahttp://www.lmfeui.com/index.php
NuPMK Consullting, Ja kartahttp://nupmk.co.id
Dr. Toto Pranoto, Managing DirectorDr. Willem A. Makaliwe, Associate Director of Research & ConsultingBayuadi Wib owo, G roup Head of Research ServicesArza Faldy Prameswara, ResearcherTaufiq ur, esearcherHelwa Salsab ila, Researcher
Ms. Tini Moeis, Managing Director,Mr. Firmantoko Soetopo, Director
Ireland
IDA Ireland, Investment and Development Agency, Dub linwww.idaireland.com
Karen Law, Strategy & Planning Executive
Israel
The Federation of Israeli Chamb ers of Commerce, Tel-Avivwww.chamb er.org.il
Israela Many – Deputy Managing Director of Economy and TaxItay Boyman – Executive Economist
Italy
CONFINDUSTRIA, Economic Research Department, Rome www.confindustria.it
Dr. Andrea Montanino, Chief Economist Dr. Cristina Pensa, Economist Dr. Lorena Scaperrotta, Economist
Japan
Mitsub ishi Research Institute, Inc., TokyoResearch Center for Policy and Economywww.mri.co.j p
Dr. Hirotsugu Sakai, Research Director
Jordan
Ministry of planning and International Cooperationwww.mop.gov.j o
Basem Kanan, Head of Policies and Studies DirectorateG hada Issa, Head of Competitiveness Division
Kazakhstan
Economic Research Institute, JS C of the Ministry of National Economy of the Repub lic of Kazakhstan, Nur-Sultan www.economy.kz
Yerlik Karazhan, Chairman of the Board;Shakharb anu Z hakupova, Deputy Chairman of the Board; Bakytgul Khamb ar, Director, Center for Strategic Research and Sustainab le Development; Bayan Ab drakhmanova, Deputy Director, Center for Strategic Research and Sustainab le Development; Natalya Novokshanova, Leading Expert, Center for
IMD WORLD COMPETITIVENESS YEARBOOK 2019 11
Strategic Research and Sustainab le Development; Karlygash Bolat, Leading Expert, Center for Strategic Research and Sustainab le Development; Nauryz Baizakov, Senior Expert, Center for Strategic Research and Sustainab le Development; Temirlan Otepov, Expert, Center for Strategic Research and Sustainab le Development.
Korea Rep.
Korea Institute for International Economic Policy ( KIEP)http://www.kiep.go.kr/eng/
Dr. Heungchong Kim, Senior Research FellowMs. Nayoun Park, Researcher
Latvia
University of Latvia Centre for European and Transition Studies, LU CETShttp://www.lu.lv/cets
Mrs. Z ane Z eib ote
Lithuania
Enterprise Lithuania www.enterpriselithuania.com
Ms. enata edzinskien , Head of Team
Luxembourg
Chamb er of Commerce of the G rand Duchy of Luxemb ourg www.cc.lu
Mr. Marc Wagener, Memb er of the Managing Board Mr. Je an-Baptiste Nivet, Economist Ms. Laure Demezet, Economist
Malaysia
Malaysia Productivity Corporation ( MPC) , Petaling Ja ya, Selangorwww.mpc.gov.my
Dato’ Mohd Razali Hussain, Director G eneralDato’ Ab dul Latif Ab u Seman, Deputy Director G eneralDatin Z ainon Bakar, Director Productivity & Competitiveness Development Division
Mexico
Center for Strategic Studies for Competitivenesswww.ceec.edu.mx
M.C. Carlos Maroto Cab reraM.S. Carlos Maroto Espinosa
Mongolia
Economic Policy and Competitiveness Research Centerwww.ecrc.mn
Mr.Boldb aatar Tserenpuntsag, FounderMr.Tsagaan Puntsag, FounderMs.Lakshmi Booj oo, Director G eneralMs.Odonchimeg Ikhb ayar, Deputy DirectorMr.G anb at Chuluun, Research EconomistMs.Khulan Ja miyandorj , Research EconomistMr.Otgon-Erdene Khandaa, Research EconomistMs.Tungalag Erdeneb at, Research EconomistMs.Yesunchuluu Khuderchuluu, Research EconomistMr.Z olb ayar Enkhb aatar, Research Economist
Netherlands
Confederation of Netherlands Industry and Employers ( VNO-NCW) , The Haguewww.vno-ncw.nl
Mr. Thomas G rosfeldMr. Tim Z andb ergen
New Zealand
Kerridge & Partners, Aucklandhttps://kerridgepartners.com/
Mr Peter Kerridge, Partner
IMD WORLD COMPETITIVENESS YEARBOOK 201912
Peru
CENTRUM PUCP http://centrum.pucp.edu.pe
Mr. Percy Marquina, G eneral DirectorMrs. Beatrice Avolio, Head of the G raduate Business DepartmentMr. Luis Del Carpio, Center of Competitiveness Director Mr. Victor Faj ardo, Research Analyst
Philippines
Asian Institute of Management R.S. Navarro Policy Center for Competitivenesspolicy.aim.edu
Ja mil Paolo Francisco, Executive DirectorTristan Canare, Associate DirectorChristopher Ed Cab overde, Research Associate
Poland
Warsaw School of Economics, Warsawhttp://www.sgh.waw.pl/en/
Dr. Bogdan A. Radomski, Associate Professor of FinanceDr. Marcin Nowakowski, Professor of International Business and Prorector
Portugal
Porto Business School, University of Porto, Portohttps://www.pb s.up.pt/
Prof Á lvaro AlmeidaProf Daniel BessaProf Ramon O’ CallaghanDr. Rui Coutinho
Qatar
Planning and Statistics Authority Department of Strategic Planningwww.psa.gov.qa
Dr. Issa Ju ’ ma Ib rahim, economic expertHissa Alassiry, proj ect manager
Romania
CIT-IRECSON Center of Technological Information, Bucharestwww.cit-irecson.ro
Mr. Bogdan Ciocanel, PhD, DirectorMr. Dan G rigore, Economist
Saudi Arabia
NCC, National Competitiveness Centerhttps://tayseer.gov.sa/
H.E. Dr. Eiman AlMutairi, CEO of National Competitiveness Center
alman M. AlTukhaifi, Director of Analytical DepartmentWaleed AlRudaian, Director of Execution DepartmentDeema Almudaheem, Senior Execution Specialist
Singapore
Singapore Business Federationwww.sb f.org.sg/
Economics Division, Ministry of Trade and Industry, Singaporewww.mti.gov.
Ms. Cheryl Kong, Assistant Executive Director
Slovak Republic
F.A.Hayek foundation, Bratislavahttp://www.hayek.sk/
Martin Reguli, Proj ect ManagerMatú š Pošva nc, Director
Slovenia
Institute for Economic Research, Lj ub lj anahttp://www.ier.si/
University of Lj ub lj ana, Faculty of Economicshttp://www.ef.uni-lj .si/en
Mr. Peter Stanovnik, PhD, Associate ProfessorMs. Sonj a Ursic, M.A.
Ms. Matej a Drnovsek, PhD, Full Professor Mr. Ales Vahcic, PhD, Full Professor
IMD WORLD COMPETITIVENESS YEARBOOK 2019 13
South Africa
Productivity SAhttps://productivitysa.co.za/
Mr Mothunye Mothib a, CEODr Leroi Raputsoane, Chief EconomistMs Ju liet Seb olelo Mashab ela, Economist
Spain
Spanish Confederation of Employers, Madridwww.ceoe.es
Ms. Edita Pereira, Head of Economic Research UnitMs. Paloma Blanco, Economic Research Unit
Taiwan, China
National Development Council, Taipeihttp://www.ndc.gov.tw
Mr. Cheng, Cheng-mount, Deputy Minister Ms. Wu, Ming Huei, Director of Economic Development Department Ms. Lee, Cho-Ji n, Senior Economist
Thailand
Thailand Management Association ( TMA) , Bangkokwww.tma.or.th
Ms. Wanweera achdawong, hief ecutive fficer, TMAMs. Pornkanok Wipusanawan, Director, TMA Center for CompetitivenessMr. Nussati Khaneekul, Senior Manager, TMA Center for Competitiveness
Turkey
TUSIAD, Turkish Industry and Business AssociationEconomic Research Departmentwww.tusiad.org
mr t mamo lu, hief conomistsmet Tosuno lu, pert
United Arab Emirates (UAE)
Federal Competitiveness & Statistics Authority ( FCSA) , Dub aihttp://fcsa.gov.ae/en-us
Ukraine
International Management Institute ( MIM-Kyiv)https://mim.kiev.ua/en
Dr. Iryna Tykhomyrova, PresidentDr. Volodymyr Danko, ProfessorMs. Oksana Kukuruza, External Relations Director
Venezuela
National Council to Investment Promotion ( CONAPRI)www.conapri.org
Mr. Ju an Cab ral, Executive DirectorMs. Litsay uerrero A. conomic Affairs Investor ervices ManagerMr. Luis Mariano odr guez, Legal Affairs Manager
IMD WORLD COMPETITIVENESS YEARBOOK 201914
User Guide
How to use the IMD World Competitiveness Yearb ook and its rankings?
The first section paints a global picture by providing overall rankings and their evolution over a five year time scale.The main elements of this section include
The IMD World Competitiveness Ranking elected breakdowns of the IMD World ompetitiveness anking ompetitiveness actors - ompetitiveness actor ankings - volution of the verall anking and ompetitiveness actors - ub-factor ankings
The second section contains the Competitiveness Country Profiles. ach four page profile analyses the performance of one of the 63 economies that are included in the earbook.
Finally there are the Statistical Tables the individual criteria that are used to build the rankings.
These sections can be used in a number of ways to analyse competitiveness.
IMD WORLD COMPETITIVENESS YEARBOOK 2019 15
Overall and Breakdown Rankings
The IMD World Competitiveness Ranking
The IMD World Competitiveness Ranking presents the overall rankings for the 63 economies covered by
the W . The ranking is calculated on the basis of the 3 ranked criteria included in the earbook 3 Hard and
urvey data. The countries are ranked from the most to the least competitive and the results from the previous year’s
anking are shown in brackets. The inde value or score is also indicated for each country.
(2018 rankings are in parentheses)
COMPETITIVENESS RANKING (Ranks 1 - 30)
(3) Singapore 1
(2) Hong Kong SAR 2
(1) USA 3
(5) Switzerland 4
(7) UAE 5
(4) Netherlands 6
(12) Ireland 7
(6) Denmark 8
(9) Sweden 9
(14) Qatar 10
(8) Norway 11
(11) Luxembourg 12
(10) Canada 13
(13) China 14
(16) Finland 15
(17) Taiwan, China 16
(15) Germany 17
(19) Australia 18
(18) Austria 19
(24) Iceland 20
(23) New Zealand 21
(22) Malaysia 22
(20) United Kingdom 23
(21) Israel 24
(30) Thailand 25
(39) Saudi Arabia 26
(26) Belgium 27
(27) Korea Rep. 28
(32) Lithuania 29
(25) Japan 30
100.000
97.801
97.119
96.005
95.891
94.366
94.115
93.425
92.585
91.948
91.693
91.216
89.222
88.775
88.526
88.239
85.739
85.506
84.407
83.259
83.102
82.544
81.839
80.240
77.233
77.207
77.074
76.504
76.234
74.634
0 10 20 30 40 50 60 70 80 90 100
The 2019 IMD World
(2018 rankings are in parentheses)
COMPETITIVENESS RANKING (Ranks 31 - 63)
(28) France 31
(43) Indonesia 32
(29) Czech Republic 33
(38) Kazakhstan 34
(31) Estonia 35
(36) Spain 36
(37) Slovenia 37
(34) Poland 38
(33) Portugal 39
(40) Latvia 40
(41) Cyprus 41
(35) Chile 42
(44) India 43
(42) Italy 44
(45) Russia 45
(50) Philippines 46
(47) Hungary 47
(48) Bulgaria 48
(49) Romania 49
(51) Mexico 50
(46) Turkey 51
(58) Colombia 52
(55) Slovak Republic 53
(59) Ukraine 54
(54) Peru 55
(53) South Africa 56
(52) Jordan 57
(57) Greece 58
(60) Brazil 59
(61) Croatia 60
(56) Argentina 61
(62) Mongolia 62
(63) Venezuela 63
74.343
73.592
73.476
72.826
72.678
72.088
71.346
71.169
69.276
68.811
67.730
67.690
67.293
65.278
65.201
64.727
63.475
61.654
60.495
59.802
59.673
57.585
57.532
57.303
57.206
57.102
55.656
53.138
50.952
50.791
49.042
45.186
20.113
0 10 20 30 40 50 60 70 80 90 100
The IMD World Competitiveness Ranking presents the 2019 overall ranking for the 63 economies covered b y the WCY. The economies are ranked from the most to the economies are ranked from the most to the least competitive and the results from the previous year’ s ranking ( 2018) are shown in previous year’ s ranking ( 2018) are shown in b rackets. The Scores shown to the left are actually indices ( 0 to 100) generated for the unique purpose of constructing charts and graphics.
Competitiveness Ranking
Selected breakdowns of the IMD World Competitiveness Ranking
In addition to glob al rankings, other rankings are provided to show comparisons based on different perspectives. These rankings include countries split by population size ( populations ab ove and b elow 20 million) , b y G DP per capita to re ect different peer groups above and below
, and three regional rankings drawn from different geographical areas urope-Middle ast-Africa, Asia-
acific and the Americas .
Populations less than 20 million
Singapore 1
Hong Kong SAR 2
Switzerland 3
UAE 4
Netherlands 5
Ireland 6
Denmark 7
Sweden 8
Qatar 9
Norway 10
Luxembourg 11
Finland 12
Austria 13
Iceland 14
New Zealand 15
Israel 16
Belgium 17
Lithuania 18
Czech Republic 19
Kazakhstan 20
Estonia 21
Slovenia 22
Portugal 23
Latvia 24
Cyprus 25
Chile 26
Hungary 27
Bulgaria 28
Romania 29
Slovak Republic 30
Jordan 31
Greece 32
Croatia 33
Mongolia 34
100.000
97.986
96.005
95.891
94.366
94.218
93.425
92.585
91.948
91.693
91.216
88.526
84.407
83.133
83.102
80.152
77.074
76.234
73.476
72.826
72.678
71.346
69.276
68.811
67.730
67.690
63.537
61.654
60.495
57.532
55.450
53.138
50.791
45.186
0 10 20 30 40 50 60 70 80 90 100
Competitiveness Factor Rankings
The global rankings for each of the ompetitiveness actors are then shown as individual ranking tables. Again,
the economies are ranked from the most to the least competitive and the previous year’s rankings are shown in brackets. imilar to the verall anking, the inde values or scores are indicated for each actor. However, there is only one economy that has a score of and one economy with a score of across all four actors.
(2018 rankings are in parentheses)
ECONOMIC PERFORMANCEMacro-economic evaluation of the domestic economy
(1) USA 1( )(2) China 2( )
(5) Qatar 3( )(4) Luxembourg 4( ) g(7) Singapore 5( ) gapp
(11) Ireland 6( )(3) UAE 7( )
(10) Thailand 8( ))(12) Germany 9( )) y
(9) Hong Kong SAR 10( ) g g(8) Malaysia 11( ) y
(13) Canada 12( )(6) Netherlands 13( )
(19) Australia 14(( )(14) Taiwan, China 15(( )(15) Japan 16( ) J p(16) Czech Republic 17( ) p(18) Poland 18( )(22) Cyprus 19( ) yp
(17) Austria 20( )(24) Sweden 21( )(45) United Kingdom 22( )) g
(25) Switzerland 23( )(21) India 24( )(27) Indonesia 25( )(26) Denmark 26( )
(20) Korea Rep. 27( ) p(35) Mexico 28( )(31) Spain 29(23) Saudi Arabia 30(38) Russia 31(40) Norway 32(29) Slovenia 33(30) France 34
(43) Finland 35(33) New Zealand 36(44) Belgium 37(50) Philippines 38(36) Lithuania 39
(37) Israel 40(55) Peru 41
(46) Slovak Republic 42(42) Portugal 43(32) Estonia 44(49) Kazakhstan 45(39) Hungary 46(28) Bulgaria 47(41) Chile 48(34) Romania 49(51) Colombia 50
(52) Turkey 51(53) Latvia 52
(47) Italy 53(57) Iceland 54
(56) Croatia 55(58) Ukraine 56(54) Brazil 57
(48) Mongolia 58(59) South Africa 59
(61) Greece 60(60) Argentina 61
(62) Jordan 62(63) Venezuela 63
95.543 91.705 89.538 83.131 83.067 81.005 78.251 76.653 76.382 75.107 74.205 71.430 70.327 68.980 68.640 68.426 68.345 68.040 67.997 67.528 67.171 66.873 66.125 64.863 64.423 64.398 63.429 63.147 62.935 62.703 62.320 62.276 62.267 62.243 61.647 60.781 60.344 60.143 60.006 59.556 58.945 58.324 57.769 57.673 57.501 57.384 57.190 56.923 56.673 56.525 55.968 55.848 54.646 53.093 51.749 51.505 51.381 49.651 44.477 42.574 40.849 27.771
0 10 20 30 40 50 60 70 80 90 100
IMD WORLD COMPETITIVENESS YEARBOOK 201916
Overall Ranking and Competitiveness Factors
This section presents the overall rankings and the -year trends for each of the four ompetitiveness actors
conomic erformance, overnment fficiency, usiness fficiency and Infrastructure. Thus, the reader is able to
analyze the evolution of an economy’s performance over the past few years relative to the others on a global basis.
2015 2016 2017 2018 2019 2015 2016 2017 2018 2019Argentina 59 55 58 56 61 56 53 56 60 61 Australia 18 17 21 19 18 28 24 25 19 14 Austria 26 24 25 18 19 21 19 40 17 20 Belgium 23 22 23 26 27 22 33 23 44 37 Brazil 56 57 61 60 59 51 55 59 54 57 Bulgaria 55 50 49 48 48 48 40 37 28 47 Canada 5 10 12 10 13 10 14 16 13 12 Chile 35 36 35 35 42 32 34 34 41 48 China 22 25 18 13 14 4 3 2 2 2 Colombia 51 51 54 58 52 46 46 41 51 50 Croatia 58 58 59 61 60 57 56 57 56 55 Cyprus - - 37 41 41 - - 28 22 19 Czech Republic 29 27 28 29 33 26 20 19 16 17 Denmark 8 6 7 6 8 23 22 20 26 26 Estonia 31 31 30 31 35 40 39 44 32 44 Finland 20 20 15 16 15 52 47 45 43 35 France 32 32 31 28 31 27 25 24 30 34 Germany 10 12 13 15 17 8 8 7 12 9 Greece 50 56 57 57 58 58 58 61 61 60 Hong Kong SAR 2 1 1 2 2 9 5 11 9 10 Hungary 48 46 52 47 47 17 26 36 39 46 Iceland 24 23 20 24 20 44 29 39 57 54 India 44 41 45 44 43 16 16 18 21 24 Indonesia 42 48 42 43 32 36 37 33 27 25 Ireland 16 7 6 12 7 12 6 4 11 6 Israel 21 21 22 21 24 30 31 31 37 40 Italy 38 35 44 42 44 41 36 38 47 53 Japan 27 26 26 25 30 29 18 14 15 16 Jordan 52 53 56 52 57 59 57 62 62 62 Kazakhstan 34 47 32 38 34 31 52 54 49 45 Korea Rep. 25 29 29 27 28 15 21 22 20 27 Latvia 43 37 40 40 40 53 51 53 53 52 Lithuania 28 30 33 32 29 35 45 42 36 39 Luxembourg 6 11 8 11 12 5 7 3 4 4 Malaysia 14 19 24 22 22 6 11 13 8 11 Mexico 39 45 48 51 50 19 23 30 35 28 Mongolia 57 60 62 62 62 55 59 60 48 58 Netherlands 15 8 5 4 6 25 9 9 6 13 New Zealand 17 16 16 23 21 37 41 32 33 36 Norway 7 9 11 8 11 24 32 48 40 32 Peru 54 54 55 54 55 50 50 50 55 41 Philippines 41 42 41 50 46 34 38 26 50 38 Poland 33 33 38 34 38 33 27 27 18 18 Portugal 36 39 39 33 39 45 48 51 42 43 Qatar 13 13 17 14 10 2 2 8 5 3 Romania 47 49 50 49 49 47 42 49 34 49 Russia 45 44 46 45 45 43 49 46 38 31 Saudi Arabia - - 36 39 26 - - 21 23 30 Singapore 3 4 3 3 1 3 4 6 7 5 Slovak Republic 46 40 51 55 53 54 44 52 46 42 Slovenia 49 43 43 37 37 42 43 47 29 33 South Africa 53 52 53 53 56 49 54 58 59 59 Spain 37 34 34 36 36 39 30 35 31 29 Sweden 9 5 9 9 9 20 17 17 24 21 Switzerland 4 2 2 5 4 14 10 15 25 23 Taiwan, China 11 14 14 17 16 11 15 12 14 15 Thailand 30 28 27 30 25 13 13 10 10 8 Turkey 40 38 47 46 51 38 35 43 52 51 UAE 12 15 10 7 5 7 12 5 3 7 Ukraine 60 59 60 59 54 60 60 55 58 56 United Kingdom 19 18 19 20 23 18 28 29 45 22 USA 1 3 4 1 3 1 1 1 1 1 Venezuela 61 61 63 63 63 61 61 63 63 63
OVERALL Economic Performance2015 2016 2017 2018 2019
61 58 58 60 61 14 14 18 14 13 39 35 33 32 28 33 28 32 35 36 60 61 62 62 62 49 33 39 37 42 8 10 13 9 14
26 27 26 24 26 35 51 45 46 35 51 53 56 58 56 56 56 57 56 58
- - 22 28 32 31 29 29 27 34 10 8 7 6 6 20 20 23 21 27 17 21 16 15 17 50 52 52 39 48 18 19 21 19 22 57 59 61 61 60 1 1 1 1 1
54 54 54 48 45 22 17 8 16 15 47 47 48 50 46 30 32 30 36 25 15 13 9 13 11 24 22 24 20 30 53 50 53 53 53 42 37 35 41 38 32 44 49 43 43 21 31 19 25 21 28 26 28 29 31 45 30 36 33 33 25 24 34 31 29 12 12 15 17 10 16 18 25 23 24 41 46 51 54 52 55 55 60 57 59 13 15 12 8 9 6 4 5 7 8 7 6 6 5 7
37 41 43 47 49 36 36 37 44 41 29 34 44 40 44 34 48 40 34 37 4 5 11 10 5
46 43 47 51 51 44 39 46 52 47
- - 31 30 18 2 3 3 3 3
48 42 55 55 57 52 45 42 42 39 40 40 50 49 50 43 49 38 38 40 11 11 14 11 16 5 2 2 2 4 9 9 10 12 12
27 23 20 22 20 38 38 41 45 55 3 7 4 4 2
59 57 59 59 54 19 16 17 18 19 23 25 27 26 23 58 60 63 63 63
Government Efficiency2015 2016 2017 2018 2019 2015 2016 2017 2018 2019 2015 2016 2017 2018 2019
61 58 58 60 61 58 55 58 49 59 51 51 52 47 51 Argentina14 14 18 14 13 17 17 27 24 24 19 18 18 16 17 Australia39 35 33 32 28 28 22 17 14 17 20 12 11 14 11 Austria33 28 32 35 36 22 19 26 23 28 17 13 13 20 21 Belgium60 61 62 62 62 51 51 49 50 57 53 46 51 52 54 Brazil49 33 39 37 42 60 54 56 57 54 49 47 47 51 50 Bulgaria8 10 13 9 14 3 12 11 7 16 6 9 10 7 12 Canada
26 27 26 24 26 35 36 31 26 41 44 45 45 43 47 Chile35 51 45 46 35 27 26 18 15 15 25 25 25 19 16 China51 53 56 58 56 41 45 53 56 47 54 56 58 58 56 Colombia56 56 57 56 58 61 61 63 62 63 43 43 46 46 49 Croatia
- - 22 28 32 - - 50 53 52 - - 40 41 42 Cyprus31 29 29 27 34 31 30 34 32 37 28 26 28 30 31 Czech Republic10 8 7 6 6 8 6 8 3 7 3 2 4 3 3 Denmark20 20 23 21 27 36 34 32 27 33 32 33 29 32 34 Estonia17 21 16 15 17 19 21 13 16 13 5 5 6 6 5 Finland50 52 52 39 48 39 37 40 31 38 12 15 12 12 9 France18 19 21 19 22 16 15 16 19 26 9 10 9 11 10 Germany57 59 61 61 60 43 57 57 59 58 35 38 39 40 41 Greece1 1 1 1 1 1 1 1 1 2 15 21 20 23 22 Hong Kong SAR
54 54 54 48 45 57 56 60 58 56 39 39 41 39 39 Hungary22 17 8 16 15 29 27 24 22 19 11 17 17 17 13 Iceland47 47 48 50 46 33 31 29 29 30 58 58 60 56 55 India30 32 30 36 25 34 39 30 35 20 56 57 59 59 53 Indonesia15 13 9 13 11 13 2 3 10 3 24 23 19 21 23 Ireland24 22 24 20 30 21 23 22 18 21 14 14 16 13 18 Israel53 50 53 53 53 44 35 45 44 42 31 32 33 31 32 Italy42 37 35 41 38 25 29 35 36 46 13 11 14 15 15 Japan32 44 49 43 43 47 40 47 39 35 50 52 57 54 58 Jordan21 31 19 25 21 30 44 23 34 29 41 48 43 42 43 Kazakhstan28 26 28 29 31 37 48 44 43 34 21 22 24 18 20 Korea Rep.45 30 36 33 33 42 43 39 40 43 37 37 35 37 35 Latvia25 24 34 31 29 23 28 33 30 23 30 29 30 29 30 Lithuania12 12 15 17 10 4 9 6 8 12 22 24 22 24 25 Luxembourg16 18 25 23 24 10 14 19 17 18 27 31 32 33 28 Malaysia41 46 51 54 52 38 42 36 48 49 52 53 55 55 57 Mexico55 55 60 57 59 53 58 62 61 61 59 60 62 62 62 Mongolia13 15 12 8 9 12 10 4 6 4 8 7 8 9 8 Netherlands6 4 5 7 8 15 13 20 28 22 23 20 23 25 24 New Zealand7 6 6 5 7 5 8 7 5 8 10 6 5 4 7 Norway
37 41 43 47 49 50 50 55 51 55 60 59 61 61 61 Peru36 36 37 44 41 26 24 28 38 32 57 55 54 60 59 Philippines29 34 44 40 44 32 32 37 37 36 34 34 34 34 36 Poland34 48 40 34 37 48 46 46 33 45 26 28 27 26 29 Portugal4 5 11 10 5 11 20 12 13 10 47 41 38 38 40 Qatar
46 43 47 51 51 49 49 52 52 51 42 42 50 49 48 Romania44 39 46 52 47 54 52 51 54 53 36 36 36 35 37 Russia
- - 31 30 18 - - 38 45 25 - - 44 44 38 Saudi Arabia2 3 3 3 3 7 5 10 11 5 7 8 7 8 6 Singapore
48 42 55 55 57 45 38 54 60 60 40 40 42 45 44 Slovak Republic52 45 42 42 39 56 53 48 47 40 33 30 31 28 27 Slovenia40 40 50 49 50 52 47 41 46 44 55 54 56 57 60 South Africa43 49 38 38 40 46 41 42 42 39 29 27 26 27 26 Spain11 11 14 11 16 9 4 9 4 6 4 4 3 5 4 Sweden5 2 2 2 4 6 3 5 9 9 2 3 1 2 2 Switzerland9 9 10 12 12 14 16 15 20 14 18 19 21 22 19 Taiwan, China
27 23 20 22 20 24 25 25 25 27 46 49 49 48 45 Thailand38 38 41 45 55 40 33 43 41 48 45 44 48 50 46 Turkey3 7 4 4 2 18 11 2 2 1 38 35 37 36 33 UAE
59 57 59 59 54 55 60 59 55 50 48 50 53 53 52 Ukraine19 16 17 18 19 20 18 21 21 31 16 16 15 10 14 United Kingdom23 25 27 26 23 2 7 14 12 11 1 1 2 1 1 USA58 60 63 63 63 59 59 61 63 62 61 61 63 63 63 Venezuela
InfrastructureBusiness EfficiencyGovernment Efficiency
Sub-factor Rankings
A summary of the rankings for all sub-factors is presented for the 63 economies for . It is possible, at a glance, to determine in what areas of competitiveness an economy e cels or has particular weaknesses and to make comparisons between countries. These rankings provide a more detailed e amination of specific competitiveness issues and can be used to, for e ample, evaluate the business environment of a country, support international investment decisions, or assess the impact of various public policies.
We view the rankings as a tool for managers or policy makers to use when they analyze the above questions.
bviously, each company must take into consideration the logic of its own economic sector, economic forecasts and its own traditions as well as governments should consider the national identity and value system of their economy.
Sub-factor Rankings
Dom
estic
Eco
nom
y
Inte
rnat
iona
l Tra
de
Inte
rnat
iona
l Inv
estm
ent
Empl
oym
ent
Pric
es
Publ
ic F
inan
ce
Tax
Pol
icy
Inst
itutio
nal F
ram
ewor
k
Busi
ness
Leg
isla
tion
Soci
etal
Fra
mew
ork
Prod
uctiv
ity &
Effi
cien
cy
Labo
r M
arke
t
Fina
nce
Man
agem
ent
Prac
tices
Att
itude
s an
d V
alue
s
Basi
c In
fras
truc
ture
Argentina 62 57 52 53 55 61 48 62 61 53 60 39 59 48 60 47Australia 10 47 15 24 32 15 23 14 10 17 22 20 14 38 27 18Austria 19 18 25 33 24 30 61 17 21 13 13 19 21 10 34 15Belgium 32 8 48 49 31 49 62 26 28 14 16 37 22 25 37 45Brazil 49 51 19 56 42 62 38 61 62 62 61 50 40 53 54 52Bulgaria 56 36 50 46 5 20 25 49 49 47 51 56 53 55 46 50Canada 17 53 10 19 7 29 19 13 14 16 19 17 9 21 13 10Chile 43 60 20 40 21 17 33 21 18 45 52 35 26 50 35 34China 1 24 7 2 54 33 52 30 44 23 26 1 25 14 8 21Colombia 50 52 35 44 10 48 35 56 53 61 58 25 50 42 47 43Croatia 57 23 43 55 36 46 55 55 60 43 57 63 61 63 63 57Cyprus 59 15 8 43 6 56 16 46 23 28 44 45 54 58 53 53Czech Republic 29 17 38 12 25 25 47 31 42 25 28 49 36 43 39 24Denmark 24 28 29 31 37 11 41 4 3 2 7 21 11 6 11 7Estonia 53 20 47 45 26 18 34 32 17 33 37 44 42 28 32 36Finland 36 39 17 42 33 27 54 7 9 4 14 29 7 12 15 16France 15 27 12 54 56 52 63 23 29 22 21 51 13 41 62 17Germany 9 13 9 14 38 14 59 16 20 15 15 30 17 32 38 22Greece 60 21 60 60 27 60 60 57 52 51 50 57 60 56 58 44Hong Kong SAR 18 4 4 17 62 1 2 8 1 20 8 6 1 3 3 3Hungary 23 12 63 34 14 45 46 39 37 41 46 59 49 49 57 32Iceland 45 46 58 8 60 2 31 27 24 6 18 34 35 13 10 1India 5 41 51 13 51 54 24 36 47 55 40 16 28 35 23 49Indonesia 7 59 36 18 16 28 4 37 45 36 45 3 32 20 14 38Ireland 4 7 3 38 41 19 20 15 6 12 1 12 20 2 1 35Israel 34 48 27 28 52 39 21 28 38 30 20 18 33 29 9 48Italy 38 25 32 58 49 58 57 44 43 42 30 53 38 39 50 56Japan 21 44 11 4 59 59 40 24 31 31 56 41 18 60 51 42Jordan 61 55 55 63 50 42 27 45 40 49 48 58 43 24 28 62Kazakhstan 48 56 39 23 35 22 15 42 25 29 36 11 41 19 24 25Korea Rep. 16 45 30 10 53 24 18 33 50 39 38 36 34 47 25 23Latvia 40 38 54 51 22 32 43 35 27 40 39 40 55 40 33 37Lithuania 52 9 59 41 13 26 36 29 26 34 23 27 46 9 20 29Luxembourg 20 5 2 15 44 6 42 10 13 5 11 22 5 23 19 13Malaysia 31 14 22 16 1 31 10 25 36 35 25 7 23 15 16 14Mexico 44 61 31 5 17 40 28 51 57 54 47 28 52 51 55 55Mongolia 42 62 44 59 2 57 32 59 58 50 62 60 62 62 45 60Netherlands 13 3 49 11 39 8 53 6 4 7 4 4 4 11 5 6New Zealand 37 49 41 22 19 10 26 12 7 10 35 24 24 22 17 20Norway 11 50 23 27 43 4 44 3 11 1 3 13 12 8 18 5Peru 47 58 46 26 8 34 30 50 46 58 59 48 48 57 41 54Philippines 12 54 42 21 46 37 14 48 54 44 49 10 39 33 29 61Poland 26 10 40 32 9 38 49 41 39 38 27 38 37 36 48 31Portugal 55 26 34 48 30 53 51 40 19 26 41 43 47 54 31 41Qatar 3 34 37 1 3 9 1 11 22 11 12 5 29 7 6 4Romania 51 40 61 35 20 43 39 52 48 52 33 55 58 52 44 58Russia 35 35 26 30 45 23 17 53 56 56 54 33 44 59 56 40Saudi Arabia 33 42 24 39 15 21 7 18 33 32 24 23 27 26 22 19Singapore 8 1 5 7 58 7 12 2 2 9 9 8 6 16 4 11Slovak Republic 39 19 56 47 23 47 50 54 59 46 34 62 57 61 59 46Slovenia 46 11 53 37 12 35 56 43 35 21 31 52 45 34 40 30South Africa 58 43 33 62 4 55 11 47 51 59 53 42 31 37 52 51Spain 27 22 13 57 28 51 45 38 34 24 32 47 30 44 43 26Sweden 14 33 14 36 40 13 58 9 8 3 6 14 10 5 7 9Switzerland 6 29 18 29 57 5 8 1 12 8 10 15 3 17 21 8Taiwan, China 25 31 28 25 11 12 5 19 30 19 17 32 15 4 12 39Thailand 30 6 21 3 29 16 6 34 32 48 43 9 19 27 26 27Turkey 41 37 45 52 34 41 37 60 41 60 42 54 51 46 49 33UAE 22 2 16 9 18 3 3 5 5 18 2 2 16 1 2 2Ukraine 54 32 57 50 47 44 22 58 55 57 55 46 56 45 36 59United Kingdom 28 30 6 20 61 36 29 20 15 27 29 31 8 30 42 28USA 2 16 1 6 48 50 13 22 16 37 5 26 2 18 30 12Venezuela 63 63 62 61 63 63 9 63 63 63 63 61 63 31 61 63
Infrastructureus ness ff c encern ent ff c encc n c erf r ance
Dom
estic
Eco
nom
y
Inte
rnat
iona
l Tra
de
Inte
rnat
iona
l Inv
estm
ent
Empl
oym
ent
Pric
es
Publ
ic F
inan
ce
Tax
Pol
icy
Inst
itutio
nal F
ram
ewor
k
Busi
ness
Leg
isla
tion
Soci
etal
Fra
mew
ork
Prod
uctiv
ity &
Effi
cien
cy
Labo
r M
arke
t
Fina
nce
Man
agem
ent
Prac
tices
Att
itude
s an
d V
alue
s
Basi
c In
fras
truc
ture
Argentina 62 57 52 53 55 61 48 62 61 53 60 39 59 48 60 47Australia 10 47 15 24 32 15 23 14 10 17 22 20 14 38 27 18Austria 19 18 25 33 24 30 61 17 21 13 13 19 21 10 34 15Belgium 32 8 48 49 31 49 62 26 28 14 16 37 22 25 37 45Brazil 49 51 19 56 42 62 38 61 62 62 61 50 40 53 54 52Bulgaria 56 36 50 46 5 20 25 49 49 47 51 56 53 55 46 50Canada 17 53 10 19 7 29 19 13 14 16 19 17 9 21 13 10Chile 43 60 20 40 21 17 33 21 18 45 52 35 26 50 35 34China 1 24 7 2 54 33 52 30 44 23 26 1 25 14 8 21Colombia 50 52 35 44 10 48 35 56 53 61 58 25 50 42 47 43Croatia 57 23 43 55 36 46 55 55 60 43 57 63 61 63 63 57Cyprus 59 15 8 43 6 56 16 46 23 28 44 45 54 58 53 53Czech Republic 29 17 38 12 25 25 47 31 42 25 28 49 36 43 39 24Denmark 24 28 29 31 37 11 41 4 3 2 7 21 11 6 11 7Estonia 53 20 47 45 26 18 34 32 17 33 37 44 42 28 32 36Finland 36 39 17 42 33 27 54 7 9 4 14 29 7 12 15 16France 15 27 12 54 56 52 63 23 29 22 21 51 13 41 62 17Germany 9 13 9 14 38 14 59 16 20 15 15 30 17 32 38 22Greece 60 21 60 60 27 60 60 57 52 51 50 57 60 56 58 44Hong Kong SAR 18 4 4 17 62 1 2 8 1 20 8 6 1 3 3 3Hungary 23 12 63 34 14 45 46 39 37 41 46 59 49 49 57 32Iceland 45 46 58 8 60 2 31 27 24 6 18 34 35 13 10 1India 5 41 51 13 51 54 24 36 47 55 40 16 28 35 23 49Indonesia 7 59 36 18 16 28 4 37 45 36 45 3 32 20 14 38Ireland 4 7 3 38 41 19 20 15 6 12 1 12 20 2 1 35Israel 34 48 27 28 52 39 21 28 38 30 20 18 33 29 9 48Italy 38 25 32 58 49 58 57 44 43 42 30 53 38 39 50 56Japan 21 44 11 4 59 59 40 24 31 31 56 41 18 60 51 42Jordan 61 55 55 63 50 42 27 45 40 49 48 58 43 24 28 62Kazakhstan 48 56 39 23 35 22 15 42 25 29 36 11 41 19 24 25Korea Rep. 16 45 30 10 53 24 18 33 50 39 38 36 34 47 25 23Latvia 40 38 54 51 22 32 43 35 27 40 39 40 55 40 33 37Lithuania 52 9 59 41 13 26 36 29 26 34 23 27 46 9 20 29Luxembourg 20 5 2 15 44 6 42 10 13 5 11 22 5 23 19 13Malaysia 31 14 22 16 1 31 10 25 36 35 25 7 23 15 16 14Mexico 44 61 31 5 17 40 28 51 57 54 47 28 52 51 55 55Mongolia 42 62 44 59 2 57 32 59 58 50 62 60 62 62 45 60Netherlands 13 3 49 11 39 8 53 6 4 7 4 4 4 11 5 6New Zealand 37 49 41 22 19 10 26 12 7 10 35 24 24 22 17 20Norway 11 50 23 27 43 4 44 3 11 1 3 13 12 8 18 5Peru 47 58 46 26 8 34 30 50 46 58 59 48 48 57 41 54Philippines 12 54 42 21 46 37 14 48 54 44 49 10 39 33 29 61Poland 26 10 40 32 9 38 49 41 39 38 27 38 37 36 48 31Portugal 55 26 34 48 30 53 51 40 19 26 41 43 47 54 31 41Qatar 3 34 37 1 3 9 1 11 22 11 12 5 29 7 6 4Romania 51 40 61 35 20 43 39 52 48 52 33 55 58 52 44 58Russia 35 35 26 30 45 23 17 53 56 56 54 33 44 59 56 40Saudi Arabia 33 42 24 39 15 21 7 18 33 32 24 23 27 26 22 19Singapore 8 1 5 7 58 7 12 2 2 9 9 8 6 16 4 11Slovak Republic 39 19 56 47 23 47 50 54 59 46 34 62 57 61 59 46Slovenia 46 11 53 37 12 35 56 43 35 21 31 52 45 34 40 30South Africa 58 43 33 62 4 55 11 47 51 59 53 42 31 37 52 51Spain 27 22 13 57 28 51 45 38 34 24 32 47 30 44 43 26Sweden 14 33 14 36 40 13 58 9 8 3 6 14 10 5 7 9Switzerland 6 29 18 29 57 5 8 1 12 8 10 15 3 17 21 8Taiwan, China 25 31 28 25 11 12 5 19 30 19 17 32 15 4 12 39Thailand 30 6 21 3 29 16 6 34 32 48 43 9 19 27 26 27Turkey 41 37 45 52 34 41 37 60 41 60 42 54 51 46 49 33UAE 22 2 16 9 18 3 3 5 5 18 2 2 16 1 2 2Ukraine 54 32 57 50 47 44 22 58 55 57 55 46 56 45 36 59United Kingdom 28 30 6 20 61 36 29 20 15 27 29 31 8 30 42 28USA 2 16 1 6 48 50 13 22 16 37 5 26 2 18 30 12Venezuela 63 63 62 61 63 63 9 63 63 63 63 61 63 31 61 63
Infrastructureus ness ff c encern ent ff c encc n c erf r ance
Tec
hnol
ogic
al In
fras
truc
ture
Scie
ntifi
c In
fras
truc
ture
Hea
lth a
nd E
nvir
onm
ent
Educ
atio
n
50 54 36 51 Argentina29 20 11 6 Australia26 13 9 13 Austria15 18 22 5 Belgium53 40 40 61 Brazil47 49 49 46 Bulgaria16 19 12 11 Canada45 52 42 48 Chile2 2 47 36 China52 58 50 59 Colombia57 55 37 42 Croatia60 56 33 4 Cyprus30 26 31 40 Czech Republic7 10 3 1 Denmark35 47 28 22 Estonia4 16 5 3 Finland9 12 10 24 France21 5 6 29 Germany48 41 34 45 Greece24 23 20 16 Hong Kong SAR41 35 39 44 Hungary27 33 13 8 Iceland28 36 62 63 India49 45 58 52 Indonesia17 22 17 25 Ireland11 7 25 14 Israel40 21 24 38 Italy25 6 8 32 Japan54 60 48 50 Jordan51 53 57 26 Kazakhstan20 3 32 30 Korea Rep.23 57 30 19 Latvia18 44 26 23 Lithuania37 27 19 18 Luxembourg14 28 41 35 Malaysia56 46 52 62 Mexico62 63 63 53 Mongolia3 15 16 12 Netherlands33 29 15 15 New Zealand10 17 4 10 Norway61 61 51 55 Peru44 59 56 58 Philippines39 31 43 31 Poland34 32 21 28 Portugal46 51 46 43 Qatar36 43 44 49 Romania32 25 54 37 Russia43 34 53 34 Saudi Arabia1 14 23 2 Singapore42 50 38 47 Slovak Republic31 30 27 17 Slovenia59 42 60 60 South Africa19 24 18 39 Spain5 9 2 7 Sweden8 4 1 9 Switzerland13 8 29 20 Taiwan, China38 38 55 56 Thailand55 37 45 54 Turkey22 39 35 41 UAE58 48 59 33 Ukraine12 11 14 27 United Kingdom6 1 7 21 USA63 62 61 57 Venezuela
Infrastructure
Competitiveness Country Profiles
ach four page profile analyses the performance of one of the 63 economies that are included in the IMD World ompetitiveness earbook. The economies are presented in alphabetical order. The term economy signifies an economic entity and does not imply any political independence.
It is possib le, in one glimpse, to evaluate the evolution of each economy over time and its relative strengths and weaknesses. However, each economy’s particular situation is in uenced by its development level, political restraints and social value system.
BASIC FACTS
Capital
Land area (square km '000) 9,9852018
Exchange Rate (per $) 1.2962018
Population - market size (millions) 36.952018
23
Gross Domestic Product (GDP) (US$ billions) 1,711.42018
10
GDP (PPP) per capita (US$) 49,7072018
19
Real GDP growth (%) 1.82018
49
Consumer price inflation (%) 2.242018
32
Unemployment rate (%) 5.602018
36
Labor force (millions) 19.812018
21
Current account balance (% of GDP) -2.672018
50
Direct investment stocks inward ($bn) 1,084.42017
6
Direct investment flows inward (% of GDP) 2.552018
26
PEER GROUPS RANKINGSTHE AMERICAS (9 countries) POPULATIONS > 20 MILLION (29 countries)
COMPETITIVENESS TRENDS - OVERALL
CANADAOVERALL PERFORMANCE (63 countries) Rank
Ottawa
CHALLENGES IN 2019Minimal capacity of educational systems to react to the rapidly-
changing needs of high-growth sectors like technology.
Information and Communications Technology Council (ICTC)
COMPETITIVENESS LANDSCAPE
510 12 10
13
2015 2016 2017 2018 2019
17
53
10
19
7
29
1913 14 16
19 17
9
21
1310
17 1912 11
Dom
estic
Eco
nom
y
Inte
rnat
iona
l Tra
de
Inte
rnat
iona
l Inv
estm
ent
Empl
oym
ent
Pric
es
Publ
ic F
inan
ce
Tax
Pol
icy
Inst
itutio
nal F
ram
ewor
k
Busi
ness
Leg
isla
tion
Soci
etal
Fra
mew
ork
Prod
uctiv
ity &
Effi
cien
cy
Labo
r M
arke
t
Fina
nce
Man
agem
ent
Prac
tices
Att
itude
s an
d V
alue
s
Basi
c In
fras
truc
ture
Tec
hnol
ogic
al In
fras
truc
ture
Scie
ntifi
c In
fras
truc
ture
Hea
lth a
nd E
nvir
onm
ent
Educ
atio
n
Economic Performance Government Efficiency Business Efficiency Infrastructure
2 2 2 2 2
2015 2016 2017 2018 2019
2 2 2 2 2
2015 2016 2017 2018 2019
• Minimal capacity of educational systems to react to the rapidly-changing needs of high-growth sectors like technology.
• Shortage of highly-skilled digital talent available to meet industry demand in high-growth sectors like technology.
• Shortage of favorable incentives to draw high-quality foreign direct investment and increase competition.
• Minimal capacity for startups to become scaleups and reach new markets.
• Insufficient levels of digitization among small businesses.
Provided by:Information and Communications Technology Council (ICTC)
2015 2016 2017 2018 2019 2015 2016 2017 2018 2019Argentina 59 55 58 56 61 56 53 56 60 61 Australia 18 17 21 19 18 28 24 25 19 14 Austria 26 24 25 18 19 21 19 40 17 20 Belgium 23 22 23 26 27 22 33 23 44 37 Brazil 56 57 61 60 59 51 55 59 54 57 Bulgaria 55 50 49 48 48 48 40 37 28 47 Canada 5 10 12 10 13 10 14 16 13 12 Chile 35 36 35 35 42 32 34 34 41 48 China 22 25 18 13 14 4 3 2 2 2 Colombia 51 51 54 58 52 46 46 41 51 50 Croatia 58 58 59 61 60 57 56 57 56 55 Cyprus - - 37 41 41 - - 28 22 19 Czech Republic 29 27 28 29 33 26 20 19 16 17 Denmark 8 6 7 6 8 23 22 20 26 26 Estonia 31 31 30 31 35 40 39 44 32 44 Finland 20 20 15 16 15 52 47 45 43 35 France 32 32 31 28 31 27 25 24 30 34 Germany 10 12 13 15 17 8 8 7 12 9 Greece 50 56 57 57 58 58 58 61 61 60 Hong Kong SAR 2 1 1 2 2 9 5 11 9 10 Hungary 48 46 52 47 47 17 26 36 39 46 Iceland 24 23 20 24 20 44 29 39 57 54 India 44 41 45 44 43 16 16 18 21 24 Indonesia 42 48 42 43 32 36 37 33 27 25 Ireland 16 7 6 12 7 12 6 4 11 6 Israel 21 21 22 21 24 30 31 31 37 40 Italy 38 35 44 42 44 41 36 38 47 53 Japan 27 26 26 25 30 29 18 14 15 16 Jordan 52 53 56 52 57 59 57 62 62 62 Kazakhstan 34 47 32 38 34 31 52 54 49 45 Korea Rep. 25 29 29 27 28 15 21 22 20 27 Latvia 43 37 40 40 40 53 51 53 53 52 Lithuania 28 30 33 32 29 35 45 42 36 39 Luxembourg 6 11 8 11 12 5 7 3 4 4 Malaysia 14 19 24 22 22 6 11 13 8 11 Mexico 39 45 48 51 50 19 23 30 35 28 Mongolia 57 60 62 62 62 55 59 60 48 58 Netherlands 15 8 5 4 6 25 9 9 6 13 New Zealand 17 16 16 23 21 37 41 32 33 36 Norway 7 9 11 8 11 24 32 48 40 32 Peru 54 54 55 54 55 50 50 50 55 41 Philippines 41 42 41 50 46 34 38 26 50 38 Poland 33 33 38 34 38 33 27 27 18 18 Portugal 36 39 39 33 39 45 48 51 42 43 Qatar 13 13 17 14 10 2 2 8 5 3 Romania 47 49 50 49 49 47 42 49 34 49 Russia 45 44 46 45 45 43 49 46 38 31 Saudi Arabia - - 36 39 26 - - 21 23 30 Singapore 3 4 3 3 1 3 4 6 7 5 Slovak Republic 46 40 51 55 53 54 44 52 46 42 Slovenia 49 43 43 37 37 42 43 47 29 33 South Africa 53 52 53 53 56 49 54 58 59 59 Spain 37 34 34 36 36 39 30 35 31 29 Sweden 9 5 9 9 9 20 17 17 24 21 Switzerland 4 2 2 5 4 14 10 15 25 23 Taiwan, China 11 14 14 17 16 11 15 12 14 15 Thailand 30 28 27 30 25 13 13 10 10 8 Turkey 40 38 47 46 51 38 35 43 52 51 UAE 12 15 10 7 5 7 12 5 3 7 Ukraine 60 59 60 59 54 60 60 55 58 56 United Kingdom 19 18 19 20 23 18 28 29 45 22 USA 1 3 4 1 3 1 1 1 1 1 Venezuela 61 61 63 63 63 61 61 63 63 63
OVERALL Economic Performance2015 2016 2017 2018 2019
61 58 58 60 61 14 14 18 14 13 39 35 33 32 28 33 28 32 35 36 60 61 62 62 62 49 33 39 37 42 8 10 13 9 14
26 27 26 24 26 35 51 45 46 35 51 53 56 58 56 56 56 57 56 58
- - 22 28 32 31 29 29 27 34 10 8 7 6 6 20 20 23 21 27 17 21 16 15 17 50 52 52 39 48 18 19 21 19 22 57 59 61 61 60 1 1 1 1 1
54 54 54 48 45 22 17 8 16 15 47 47 48 50 46 30 32 30 36 25 15 13 9 13 11 24 22 24 20 30 53 50 53 53 53 42 37 35 41 38 32 44 49 43 43 21 31 19 25 21 28 26 28 29 31 45 30 36 33 33 25 24 34 31 29 12 12 15 17 10 16 18 25 23 24 41 46 51 54 52 55 55 60 57 59 13 15 12 8 9 6 4 5 7 8 7 6 6 5 7
37 41 43 47 49 36 36 37 44 41 29 34 44 40 44 34 48 40 34 37 4 5 11 10 5
46 43 47 51 51 44 39 46 52 47
- - 31 30 18 2 3 3 3 3
48 42 55 55 57 52 45 42 42 39 40 40 50 49 50 43 49 38 38 40 11 11 14 11 16 5 2 2 2 4 9 9 10 12 12
27 23 20 22 20 38 38 41 45 55 3 7 4 4 2
59 57 59 59 54 19 16 17 18 19 23 25 27 26 23 58 60 63 63 63
Government Efficiency
Dom
est
ic E
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Argentina 62 57 52 53 55 61 48 62 61 53 60 39 59 48 60 47Australia 10 47 15 24 32 15 23 14 10 17 22 20 14 38 27 18Austria 19 18 25 33 24 30 61 17 21 13 13 19 21 10 34 15Belgium 32 8 48 49 31 49 62 26 28 14 16 37 22 25 37 45Brazil 49 51 19 56 42 62 38 61 62 62 61 50 40 53 54 52Bulgaria 56 36 50 46 5 20 25 49 49 47 51 56 53 55 46 50Canada 17 53 10 19 7 29 19 13 14 16 19 17 9 21 13 10Chile 43 60 20 40 21 17 33 21 18 45 52 35 26 50 35 34China 1 24 7 2 54 33 52 30 44 23 26 1 25 14 8 21Colombia 50 52 35 44 10 48 35 56 53 61 58 25 50 42 47 43Croatia 57 23 43 55 36 46 55 55 60 43 57 63 61 63 63 57Cyprus 59 15 8 43 6 56 16 46 23 28 44 45 54 58 53 53Czech Republic 29 17 38 12 25 25 47 31 42 25 28 49 36 43 39 24Denmark 24 28 29 31 37 11 41 4 3 2 7 21 11 6 11 7Estonia 53 20 47 45 26 18 34 32 17 33 37 44 42 28 32 36Finland 36 39 17 42 33 27 54 7 9 4 14 29 7 12 15 16France 15 27 12 54 56 52 63 23 29 22 21 51 13 41 62 17Germany 9 13 9 14 38 14 59 16 20 15 15 30 17 32 38 22Greece 60 21 60 60 27 60 60 57 52 51 50 57 60 56 58 44Hong Kong SAR 18 4 4 17 62 1 2 8 1 20 8 6 1 3 3 3Hungary 23 12 63 34 14 45 46 39 37 41 46 59 49 49 57 32Iceland 45 46 58 8 60 2 31 27 24 6 18 34 35 13 10 1India 5 41 51 13 51 54 24 36 47 55 40 16 28 35 23 49Indonesia 7 59 36 18 16 28 4 37 45 36 45 3 32 20 14 38Ireland 4 7 3 38 41 19 20 15 6 12 1 12 20 2 1 35Israel 34 48 27 28 52 39 21 28 38 30 20 18 33 29 9 48Italy 38 25 32 58 49 58 57 44 43 42 30 53 38 39 50 56Japan 21 44 11 4 59 59 40 24 31 31 56 41 18 60 51 42Jordan 61 55 55 63 50 42 27 45 40 49 48 58 43 24 28 62Kazakhstan 48 56 39 23 35 22 15 42 25 29 36 11 41 19 24 25Korea Rep. 16 45 30 10 53 24 18 33 50 39 38 36 34 47 25 23Latvia 40 38 54 51 22 32 43 35 27 40 39 40 55 40 33 37Lithuania 52 9 59 41 13 26 36 29 26 34 23 27 46 9 20 29Luxembourg 20 5 2 15 44 6 42 10 13 5 11 22 5 23 19 13Malaysia 31 14 22 16 1 31 10 25 36 35 25 7 23 15 16 14Mexico 44 61 31 5 17 40 28 51 57 54 47 28 52 51 55 55Mongolia 42 62 44 59 2 57 32 59 58 50 62 60 62 62 45 60Netherlands 13 3 49 11 39 8 53 6 4 7 4 4 4 11 5 6New Zealand 37 49 41 22 19 10 26 12 7 10 35 24 24 22 17 20Norway 11 50 23 27 43 4 44 3 11 1 3 13 12 8 18 5Peru 47 58 46 26 8 34 30 50 46 58 59 48 48 57 41 54Philippines 12 54 42 21 46 37 14 48 54 44 49 10 39 33 29 61Poland 26 10 40 32 9 38 49 41 39 38 27 38 37 36 48 31Portugal 55 26 34 48 30 53 51 40 19 26 41 43 47 54 31 41Qatar 3 34 37 1 3 9 1 11 22 11 12 5 29 7 6 4Romania 51 40 61 35 20 43 39 52 48 52 33 55 58 52 44 58Russia 35 35 26 30 45 23 17 53 56 56 54 33 44 59 56 40Saudi Arabia 33 42 24 39 15 21 7 18 33 32 24 23 27 26 22 19Singapore 8 1 5 7 58 7 12 2 2 9 9 8 6 16 4 11Slovak Republic 39 19 56 47 23 47 50 54 59 46 34 62 57 61 59 46Slovenia 46 11 53 37 12 35 56 43 35 21 31 52 45 34 40 30South Africa 58 43 33 62 4 55 11 47 51 59 53 42 31 37 52 51Spain 27 22 13 57 28 51 45 38 34 24 32 47 30 44 43 26Sweden 14 33 14 36 40 13 58 9 8 3 6 14 10 5 7 9Switzerland 6 29 18 29 57 5 8 1 12 8 10 15 3 17 21 8Taiwan, China 25 31 28 25 11 12 5 19 30 19 17 32 15 4 12 39Thailand 30 6 21 3 29 16 6 34 32 48 43 9 19 27 26 27Turkey 41 37 45 52 34 41 37 60 41 60 42 54 51 46 49 33UAE 22 2 16 9 18 3 3 5 5 18 2 2 16 1 2 2Ukraine 54 32 57 50 47 44 22 58 55 57 55 46 56 45 36 59United Kingdom 28 30 6 20 61 36 29 20 15 27 29 31 8 30 42 28USA 2 16 1 6 48 50 13 22 16 37 5 26 2 18 30 12Venezuela 63 63 62 61 63 63 9 63 63 63 63 61 63 31 61 63
Infrastructureus ness ff c encern ent ff c encc n c erf r ance
The 2019 IMD World Competitiveness Rankings:Selected Breakdowns
Populations greater than 20 million
USA 1
Canada 2
China 3
Taiwan, China 4
Germany 5
Australia 6
Malaysia 7
United Kingdom 8
Thailand 9
Saudi Arabia 10
Korea Rep. 11
Japan 12
France 13
Indonesia 14
Spain 15
Poland 16
India 17
Italy 18
Russia 19
Philippines 20
Mexico 21
Turkey 22
Colombia 23
Ukraine 24
Peru 25
South Africa 26
Brazil 27
Argentina 28
Venezuela 29
97.119
89.222
88.775
88.239
85.739
85.506
82.544
81.839
77.233
77.207
76.504
74.634
74.343
73.592
72.088
71.169
67.293
65.278
65.201
64.727
59.802
59.673
57.585
57.303
57.206
57.102
50.952
49.042
20.113
0 10 20 30 40 50 60 70 80 90 100
Populations greater than 20 million
Overall Ranking
Sub-Factor Rankings
Breakdown Rankings
IMD WORLD COMPETITIVENESS YEARBOOK 2019 17
Page 1: Competitiveness Trends – Overall
This page shows the economy’s overall performance over time, key economic statistics and challenges in . The following indicators are presented
Overall Performance: The evolution of the overall ranking from to .
Challenges in 2019: Five Competitiveness Challenges that the economy faces in provided by our artner Institutes, when available.
Basic Facts: tatistics of the economy.
Competitiveness Landscape: Highlights the strongest and weakest sub-factors overall. ub-factors indicate categories of competitiveness that are comprised in the four actors
conomic erformance, overnment fficiency, usiness fficiency and Infrastructure. ach factor is divided into sub-factors. verall, there are sub-factors included
in each economy’s ompetitiveness Landscape and the economy’s ranking position is shown for each sub-factor. This Landscape can thus help identify an economy’s overall strengths and weaknesses.
Peer Groups Rankings: ased on geographical region and population size.
IMPROVEMENTSWCY 2018
WCY 2019 DECLINES
WCY 2018
1.1.18 Gross fixed capital formation - real growth -3.16 0.80 1.1.15 Real GDP growth per capita 1.98
2.1.02 Government budget surplus/deficit (%) -0.97 -0.43 1.5.01 Consumer price inflation 1.61
2.3.08 Exchange rate stability 0.005 0.004 1.1.14 Real GDP growth 3.0
2.3.12 Bureaucracy 4.64 5.27 4.5.01 Total public expenditure on education 5.4
2.2.07 Effective personal income tax rate 16.53 14.44 2.3.13 Bribery and corruption 7.92
1.4.07 Unemployment rate 6.34 5.60 3.4.10 Social responsibility 7.62
1.2.02 Current account balance -2.98 -2.67 3.4.04 Credibility of managers 7.46
1.1.19 Resilience of the economy 6.11 6.57 3.5.03 National culture 8.85
4.5.06 Pupil-teacher ratio (secondary education) 12.97 12.00 3.5.02 Image abroad or branding 8.87
1.2.12 Exports of commercial services ($bn) 79.75 85.67 3.2.22 Foreign highly-skilled personnel 8.11
1.2.08 Exports of goods ($bn) 420.86 449.84 1.5.06 Gasoline prices 0.98
2.4.08 Subsidies 5.28 5.64 3.3.16 Credit 7.85
2.1.09 Public finances 5.02 5.35 2.1.11 Pension funding 6.60
4.1.07 Population - growth 1.00 1.07 3.2.23 International experience 5.77
4.2.18 Cyber security 6.23 6.60 2.5.04 Risk of political instability 8.98
COMPETITIVENESS EVOLUTION & ATTRACTIVENESS INDICATORS
CANADACOMPETITIVENESS EVOLUTION
0.76
6.49
6.47
6.42
7.64
7.71
7.14
5.13
The criteria below highlight the 15 biggest Improvements and the 15 biggest Declines in the overall performance of the economy. They are
determined by the largest percentage changes in the value of each criterion from one yearbook to the next.
WCY 2019
8.00
KEY ATTRACTIVENESS INDICATORS
From a list of 15 indicators, respondents of the Executive Opinion Survey were asked to select 5 that they perceived as the key
attractiveness factors of their economy. The chart shows the percentage of responses per indicator from the highest number of responses
to the lowest.
2.24
1.8
4.4
1.10
6.94
5.87
6.5%10.4%11.7%14.3%23.4%26.0%29.9%31.2%32.5%32.5%49.4%50.6%51.9%51.9%64.9%
0% 10% 20% 30% 40% 50% 60% 70%
Competitive tax regimeEffective labor relations
Competency of governmentStrong R&D culture
Dynamism of the economyCost competitiveness
Quality of corporate governanceAccess to financing
Effective legal environmentBusiness-friendly environmentPolicy stability & predictability
Reliable infrastructureOpen and positive attitudes
High educational levelSkilled workforce
%
1 MONGOLIA 22.45
2 HUNGARY 16.45
3 LATVIA 16.39
4 SLOVAK REPUBLIC 15.59
5 UKRAINE 14.30
6 PHILIPPINES 14.03
7 QATAR 12.17
8 CHINA 10.93 2017
9 SLOVENIA 10.59
10 CZECH REPUBLIC 10.40
11 INDIA 9.99
12 IRELAND 9.75
13 POLAND 7.26
14 INDONESIA 6.67
15 BULGARIA 6.53
16 LITHUANIA 6.51
17 SPAIN 5.21
18 PERU 5.19
19 DENMARK 5.05
20 USA 4.89
21 THAILAND 4.78
22 PORTUGAL 4.37
23 NETHERLANDS 4.32
24 BRAZIL 4.13
25 CROATIA 4.10
26 RUSSIA 3.61 2017
27 COLOMBIA 3.51
28 NEW ZEALAND 3.47 2017
29 ITALY 3.44
30 ESTONIA 3.35
31 SWEDEN 3.29
32 AUSTRIA 3.28
33 FINLAND 3.23
34 ISRAEL 3.11
35 FRANCE 2.89
36 AUSTRALIA 2.70
37 GERMANY 2.61
38 CHILE 2.35
39 KAZAKHSTAN 2.30 2017
40 HONG KONG SAR 2.22
41 TAIWAN, CHINA 2.10
42 ICELAND 2.06
43 BELGIUM 2.01
44 SWITZERLAND 1.78
45 UAE 1.62
46 MALAYSIA 1.45
47 JAPAN 1.16
48 NORWAY 0.91
49 CANADA 0.80
50 MEXICO 0.67
51 UNITED KINGDOM -0.01
52 SAUDI ARABIA -0.03
53 SOUTH AFRICA -1.44
54 TURKEY -1.73
55 KOREA REP. -2.24
56 LUXEMBOURG -2.66
57 ROMANIA -3.23
58 SINGAPORE -3.44
59 ARGENTINA -5.82
60 CYPRUS -7.06
61 GREECE -12.22
62 VENEZUELA -14.81 2017
- JORDAN -
Domestic Economy - Growth 1.1.18
GROSS FIXED CAPITAL
FORMATION - REAL GROWTH 2018Percentage change, based on constant prices.
Ranking
Statistical Tables
IMD WORLD COMPETITIVENESS YEARBOOK 201918
Page 2: Competitiveness Evolution & Key Attractiveness Indicators
Competitiveness Evolution: shows the economy’s evolution from to by indicating the greatest improvements and biggest declines in the overall performance of the economy. These are determined by selecting the greatest percentage changes in the value of each criterion from the previous year. These criteria are not to be confused with the strongest or weakest criteria of the economy, which can be found on the last page. An economy can have improved one of its weakest criteria or suffered a decline in one of its strongest.
It is also important to recall that an economy’s ranking position may not necessarily improve or decline as a consequence of its own evolution since it is always relative to the performance of the other economies. Therefore, an improvement may not be re ected by a higher ranking position if other economies have performed better for the criterion in question. The same can be said for any declines in performance the economy’s ranking position relative to
the others may or may not fall, depending on how the other economies have performed.
It should also be noted that certain criteria have been e cluded from the selection those for which the economy has no control or which may have only a very limited impact on competitiveness. or e ample, we do not consider the amount of arable land to be controllable. or more details, please refer to the section Methodology cluded criteria.
Key Attractiveness Indicators: summarizes the indicators that business e ecutives perceive as the most important features that make their economy attractive. The data is drawn from the ecutive pinion urvey and respondents were asked to select key attractiveness indicators from a selection of . The response rates indicate these preferences however, the respondents were not asked to prioritize their choices.
Sub-Factor Rankings : 2018
Domestic Economy 18 International Trade 53 International Investment 9 Employment 22 Prices 12
Sub-Factor Rankings : 2018
Public Finance 30 Tax Policy 18 Institutional Framework 13 Business Legislation 8 Societal Framework 10
Sub-Factor Rankings : 2018
Productivity & Efficiency 16 Labor Market 7 Finance 9 Management Practices 6 Attitudes and Values 5
Sub-Factor Rankings : 2018
Basic Infrastructure 5 Technological Infrastructure 15 Scientific Infrastructure 15 Health and Environment 11 Education 4
COMPETITIVENESS TRENDS - FACTOR BREAKDOWN
CANADA
ECONOMIC PERFORMANCE
2019
17 53
10 17
7
2019
29 19 13 14 16
2019
19
19
19 17 9
21 13
BUSINESS EFFICIENCY
GOVERNMENT EFFICIENCY
10
12 11
INFRASTRUCTURE
2019
10 14 16 13 12
2015 2016 2017 2018 2019
8 10 13 914
2015 2016 2017 2018 2019
312 11 7
16
2015 2016 2017 2018 2019
6 9 10 712
2015 2016 2017 2018 2019
Dom
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Eco
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Inte
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Inte
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Empl
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Pric
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Publ
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Tax
Pol
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Inst
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Busi
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Leg
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Soci
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Fra
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Prod
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Effi
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Labo
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Fina
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Argentina 62 57 52 53 55 61 48 62 61 53 60 39 59 48 60 47Australia 10 47 15 24 32 15 23 14 10 17 22 20 14 38 27 18Austria 19 18 25 33 24 30 61 17 21 13 13 19 21 10 34 15Belgium 32 8 48 49 31 49 62 26 28 14 16 37 22 25 37 45Brazil 49 51 19 56 42 62 38 61 62 62 61 50 40 53 54 52Bulgaria 56 36 50 46 5 20 25 49 49 47 51 56 53 55 46 50Canada 17 53 10 19 7 29 19 13 14 16 19 17 9 21 13 10Chile 43 60 20 40 21 17 33 21 18 45 52 35 26 50 35 34China 1 24 7 2 54 33 52 30 44 23 26 1 25 14 8 21Colombia 50 52 35 44 10 48 35 56 53 61 58 25 50 42 47 43Croatia 57 23 43 55 36 46 55 55 60 43 57 63 61 63 63 57Cyprus 59 15 8 43 6 56 16 46 23 28 44 45 54 58 53 53Czech Republic 29 17 38 12 25 25 47 31 42 25 28 49 36 43 39 24Denmark 24 28 29 31 37 11 41 4 3 2 7 21 11 6 11 7Estonia 53 20 47 45 26 18 34 32 17 33 37 44 42 28 32 36Finland 36 39 17 42 33 27 54 7 9 4 14 29 7 12 15 16France 15 27 12 54 56 52 63 23 29 22 21 51 13 41 62 17Germany 9 13 9 14 38 14 59 16 20 15 15 30 17 32 38 22Greece 60 21 60 60 27 60 60 57 52 51 50 57 60 56 58 44Hong Kong SAR 18 4 4 17 62 1 2 8 1 20 8 6 1 3 3 3Hungary 23 12 63 34 14 45 46 39 37 41 46 59 49 49 57 32Iceland 45 46 58 8 60 2 31 27 24 6 18 34 35 13 10 1India 5 41 51 13 51 54 24 36 47 55 40 16 28 35 23 49Indonesia 7 59 36 18 16 28 4 37 45 36 45 3 32 20 14 38Ireland 4 7 3 38 41 19 20 15 6 12 1 12 20 2 1 35Israel 34 48 27 28 52 39 21 28 38 30 20 18 33 29 9 48Italy 38 25 32 58 49 58 57 44 43 42 30 53 38 39 50 56Japan 21 44 11 4 59 59 40 24 31 31 56 41 18 60 51 42Jordan 61 55 55 63 50 42 27 45 40 49 48 58 43 24 28 62Kazakhstan 48 56 39 23 35 22 15 42 25 29 36 11 41 19 24 25Korea Rep. 16 45 30 10 53 24 18 33 50 39 38 36 34 47 25 23Latvia 40 38 54 51 22 32 43 35 27 40 39 40 55 40 33 37Lithuania 52 9 59 41 13 26 36 29 26 34 23 27 46 9 20 29Luxembourg 20 5 2 15 44 6 42 10 13 5 11 22 5 23 19 13Malaysia 31 14 22 16 1 31 10 25 36 35 25 7 23 15 16 14Mexico 44 61 31 5 17 40 28 51 57 54 47 28 52 51 55 55Mongolia 42 62 44 59 2 57 32 59 58 50 62 60 62 62 45 60Netherlands 13 3 49 11 39 8 53 6 4 7 4 4 4 11 5 6New Zealand 37 49 41 22 19 10 26 12 7 10 35 24 24 22 17 20Norway 11 50 23 27 43 4 44 3 11 1 3 13 12 8 18 5Peru 47 58 46 26 8 34 30 50 46 58 59 48 48 57 41 54Philippines 12 54 42 21 46 37 14 48 54 44 49 10 39 33 29 61Poland 26 10 40 32 9 38 49 41 39 38 27 38 37 36 48 31Portugal 55 26 34 48 30 53 51 40 19 26 41 43 47 54 31 41Qatar 3 34 37 1 3 9 1 11 22 11 12 5 29 7 6 4Romania 51 40 61 35 20 43 39 52 48 52 33 55 58 52 44 58Russia 35 35 26 30 45 23 17 53 56 56 54 33 44 59 56 40Saudi Arabia 33 42 24 39 15 21 7 18 33 32 24 23 27 26 22 19Singapore 8 1 5 7 58 7 12 2 2 9 9 8 6 16 4 11Slovak Republic 39 19 56 47 23 47 50 54 59 46 34 62 57 61 59 46Slovenia 46 11 53 37 12 35 56 43 35 21 31 52 45 34 40 30South Africa 58 43 33 62 4 55 11 47 51 59 53 42 31 37 52 51Spain 27 22 13 57 28 51 45 38 34 24 32 47 30 44 43 26Sweden 14 33 14 36 40 13 58 9 8 3 6 14 10 5 7 9Switzerland 6 29 18 29 57 5 8 1 12 8 10 15 3 17 21 8Taiwan, China 25 31 28 25 11 12 5 19 30 19 17 32 15 4 12 39Thailand 30 6 21 3 29 16 6 34 32 48 43 9 19 27 26 27Turkey 41 37 45 52 34 41 37 60 41 60 42 54 51 46 49 33UAE 22 2 16 9 18 3 3 5 5 18 2 2 16 1 2 2Ukraine 54 32 57 50 47 44 22 58 55 57 55 46 56 45 36 59United Kingdom 28 30 6 20 61 36 29 20 15 27 29 31 8 30 42 28USA 2 16 1 6 48 50 13 22 16 37 5 26 2 18 30 12Venezuela 63 63 62 61 63 63 9 63 63 63 63 61 63 31 61 63
Infrastructureus ness ff c encern ent ff c encc n c erf r anceSub-factor Rankings
2015 2016 2017 2018 2019 2015 2016 2017 2018 2019Argentina 59 55 58 56 61 56 53 56 60 61 Australia 18 17 21 19 18 28 24 25 19 14 Austria 26 24 25 18 19 21 19 40 17 20 Belgium 23 22 23 26 27 22 33 23 44 37 Brazil 56 57 61 60 59 51 55 59 54 57 Bulgaria 55 50 49 48 48 48 40 37 28 47 Canada 5 10 12 10 13 10 14 16 13 12 Chile 35 36 35 35 42 32 34 34 41 48 China 22 25 18 13 14 4 3 2 2 2 Colombia 51 51 54 58 52 46 46 41 51 50 Croatia 58 58 59 61 60 57 56 57 56 55 Cyprus - - 37 41 41 - - 28 22 19 Czech Republic 29 27 28 29 33 26 20 19 16 17 Denmark 8 6 7 6 8 23 22 20 26 26 Estonia 31 31 30 31 35 40 39 44 32 44 Finland 20 20 15 16 15 52 47 45 43 35 France 32 32 31 28 31 27 25 24 30 34 Germany 10 12 13 15 17 8 8 7 12 9 Greece 50 56 57 57 58 58 58 61 61 60 Hong Kong SAR 2 1 1 2 2 9 5 11 9 10 Hungary 48 46 52 47 47 17 26 36 39 46 Iceland 24 23 20 24 20 44 29 39 57 54 India 44 41 45 44 43 16 16 18 21 24 Indonesia 42 48 42 43 32 36 37 33 27 25 Ireland 16 7 6 12 7 12 6 4 11 6 Israel 21 21 22 21 24 30 31 31 37 40 Italy 38 35 44 42 44 41 36 38 47 53 Japan 27 26 26 25 30 29 18 14 15 16 Jordan 52 53 56 52 57 59 57 62 62 62 Kazakhstan 34 47 32 38 34 31 52 54 49 45 Korea Rep. 25 29 29 27 28 15 21 22 20 27 Latvia 43 37 40 40 40 53 51 53 53 52 Lithuania 28 30 33 32 29 35 45 42 36 39 Luxembourg 6 11 8 11 12 5 7 3 4 4 Malaysia 14 19 24 22 22 6 11 13 8 11 Mexico 39 45 48 51 50 19 23 30 35 28 Mongolia 57 60 62 62 62 55 59 60 48 58 Netherlands 15 8 5 4 6 25 9 9 6 13 New Zealand 17 16 16 23 21 37 41 32 33 36 Norway 7 9 11 8 11 24 32 48 40 32 Peru 54 54 55 54 55 50 50 50 55 41 Philippines 41 42 41 50 46 34 38 26 50 38 Poland 33 33 38 34 38 33 27 27 18 18 Portugal 36 39 39 33 39 45 48 51 42 43 Qatar 13 13 17 14 10 2 2 8 5 3 Romania 47 49 50 49 49 47 42 49 34 49 Russia 45 44 46 45 45 43 49 46 38 31 Saudi Arabia - - 36 39 26 - - 21 23 30 Singapore 3 4 3 3 1 3 4 6 7 5 Slovak Republic 46 40 51 55 53 54 44 52 46 42 Slovenia 49 43 43 37 37 42 43 47 29 33 South Africa 53 52 53 53 56 49 54 58 59 59 Spain 37 34 34 36 36 39 30 35 31 29 Sweden 9 5 9 9 9 20 17 17 24 21 Switzerland 4 2 2 5 4 14 10 15 25 23 Taiwan, China 11 14 14 17 16 11 15 12 14 15 Thailand 30 28 27 30 25 13 13 10 10 8 Turkey 40 38 47 46 51 38 35 43 52 51 UAE 12 15 10 7 5 7 12 5 3 7 Ukraine 60 59 60 59 54 60 60 55 58 56 United Kingdom 19 18 19 20 23 18 28 29 45 22 USA 1 3 4 1 3 1 1 1 1 1 Venezuela 61 61 63 63 63 61 61 63 63 63
OVERALL Economic Performance2015 2016 2017 2018 2019
61 58 58 60 61 14 14 18 14 13 39 35 33 32 28 33 28 32 35 36 60 61 62 62 62 49 33 39 37 42 8 10 13 9 14
26 27 26 24 26 35 51 45 46 35 51 53 56 58 56 56 56 57 56 58
- - 22 28 32 31 29 29 27 34 10 8 7 6 6 20 20 23 21 27 17 21 16 15 17 50 52 52 39 48 18 19 21 19 22 57 59 61 61 60 1 1 1 1 1
54 54 54 48 45 22 17 8 16 15 47 47 48 50 46 30 32 30 36 25 15 13 9 13 11 24 22 24 20 30 53 50 53 53 53 42 37 35 41 38 32 44 49 43 43 21 31 19 25 21 28 26 28 29 31 45 30 36 33 33 25 24 34 31 29 12 12 15 17 10 16 18 25 23 24 41 46 51 54 52 55 55 60 57 59 13 15 12 8 9 6 4 5 7 8 7 6 6 5 7
37 41 43 47 49 36 36 37 44 41 29 34 44 40 44 34 48 40 34 37 4 5 11 10 5
46 43 47 51 51 44 39 46 52 47
- - 31 30 18 2 3 3 3 3
48 42 55 55 57 52 45 42 42 39 40 40 50 49 50 43 49 38 38 40 11 11 14 11 16 5 2 2 2 4 9 9 10 12 12
27 23 20 22 20 38 38 41 45 55 3 7 4 4 2
59 57 59 59 54 19 16 17 18 19 23 25 27 26 23 58 60 63 63 63
Government Efficiency
Factor Rankings
IMD WORLD COMPETITIVENESS YEARBOOK 2019 19
Page 3: Competitiveness Trends – Factor Breakdown
This page shows the economy’s performance over time for each of the four ompetitiveness actors conomic
erformance, overnment fficiency, usiness fficiency and Infrastructure from to and the twenty sub-factor rankings for and .
Rank5
6
7
8
9
11
13
13
15
15
Rank1
1
2
2
3
9
9
11
11
12
Rank4
6
8
11
12
13
13
13
13
13
Rank2
2
4
5
8
8
9
10
11
12
1.2.08 Exports of goods ($bn) 1.2.13 Exports of commercial services (%) 46
1.3.01 Direct investment flows abroad ($bn) 1.1.18 Gross fixed capital formation - real growth 49
1.3.05 Direct investment flows inward ($bn) 1.2.25 Tourism receipts 48
1.5.05 Food costs 1.2.17 Export concentration by partner 61
1.3.03 Direct investment stocks abroad ($bn) 1.2.02 Current account balance 50
4.4.11 Human development index
CANADASTRENGTHS WEAKNESSES
Infrastructure Infrastructure Rank
3.2.12 Labor force (%)
2.2.11 Employer's social security contribution rate
Business Efficiency Business Efficiency Rank
1.3.02 Direct investment flows abroad (% of GDP) 1.5.04 Office rent 39
Government Efficiency Government Efficiency Rank
BALANCE SHEET - FACTOR BREAKDOWN
1.3.07 Direct investment stocks inward ($bn) 1.1.15 Real GDP growth per capita 52
1.3.04 Direct investment stocks abroad (% of GDP) 1.1.14 Real GDP growth 49
4.3.22 Knowledge transfer
4.2.06 Computers per capita 4.1.10 Dependency ratio 27
4.4.23 Environment-related technologies 4.3.05 Business expenditure on R&D (%) 25
4.4.01 Total health expenditure 4.4.12 Energy intensity 39
4.2.12 Public-private partnerships 4.5.01 Total public expenditure on education 35
4.4.17 Exposure to particle pollution 4.5.03 Gov. expenditure on education per student 40
4.5.08 Higher education achievement 4.3.19 Medium- and high-tech value added 39
4.5.09 Women with degrees 4.2.03 Mobile Telephone costs 63
4.5.07 Secondary school enrollment 4.5.05 Pupil-teacher ratio (primary education) 43
3.3.07 Regulatory compliance (banking laws)
3.4.07 Use of big data and analytics
3.2.22 Foreign highly-skilled personnel 3.1.08 Large corporations 33
3.2.24 Competent senior managers
3.5.03 National culture 3.2.01 Compensation levels 42
3.5.01 Attitudes toward globalization 3.2.23 International experience 40
3.3.10 Stock market capitalization (%) 3.2.06 Working hours 45
3.3.19 Corporate debt 3.2.04 Remuneration of management 44
2.4.10 Competition legislation
2.4.01 Tariff barriers
2.4.18 Immigration laws
2.2.09 Consumption tax rate 2.3.07 Foreign currency reserves per capita 31
2.3.14 Rule of law 2.4.19 Redundancy costs 26
2.4.14 Start-up days 2.4.04 Foreign investors 38
2.4.15 Start-up procedures 2.2.01 Collected total tax revenues 37
2.3.04 Country credit rating 2.1.04 Total general government debt (%) 51
2.3.08 Exchange rate stability 2.2.08 Corporate tax rate on profit 46
1.4.08 Long-term unemployment 1.2.23 Trade to GDP ratio 41
1.4.02 Employment (%) 1.2.09 Exports of goods (%) 39
3.2.18 Skilled labor 3.2.03 Remuneration in services professions 49
Economic Performance Economic Performance Rank
%
1 HONG KONG SAR 0.00
1 QATAR 0.00
3 CANADA 5.00
3 SAUDI ARABIA 5.00
3 TAIWAN, CHINA 5.00
3 UAE 5.00
7 MALAYSIA 6.00
8 SINGAPORE 7.00
8 THAILAND 7.00
10 SWITZERLAND 7.70
11 JAPAN 8.00
12 AUSTRALIA 10.00
12 INDONESIA 10.00
12 KOREA REP. 10.00
12 MONGOLIA 10.00
16 KAZAKHSTAN 12.00
16 PHILIPPINES 12.00
18 GREECE 13.00
19 BRAZIL 14.43 2016
20 INDIA 15.00 2017
20 NEW ZEALAND 15.00
20 SOUTH AFRICA 15.00
23 CHINA 16.00
23 JORDAN 16.00
23 MEXICO 16.00
23 VENEZUELA 16.00
27 ISRAEL 17.00
27 LUXEMBOURG 17.00
29 PERU 18.00
29 POLAND 18.00
29 RUSSIA 18.00
29 TURKEY 18.00
33 CHILE 19.00
33 COLOMBIA 19.00
33 CYPRUS 19.00
33 GERMANY 19.00
33 ROMANIA 19.00
38 AUSTRIA 20.00
38 BULGARIA 20.00
38 ESTONIA 20.00
38 FRANCE 20.00
38 SLOVAK REPUBLIC 20.00
38 UKRAINE 20.00
38 UNITED KINGDOM 20.00
45 ARGENTINA 21.00
45 BELGIUM 21.00
45 CZECH REPUBLIC 21.00
45 LATVIA 21.00
45 LITHUANIA 21.00
45 NETHERLANDS 21.00
45 SPAIN 21.00
52 ITALY 22.00
52 SLOVENIA 22.00
54 IRELAND 23.00
54 PORTUGAL 23.00
56 FINLAND 24.00
56 ICELAND 24.00
58 CROATIA 25.00
58 DENMARK 25.00
58 NORWAY 25.00
58 SWEDEN 25.00
62 HUNGARY 27.00
- USA -
Ranking
Tax Policy 2.2.09
CONSUMPTION TAX RATE
2018Standard rate of VAT/GST
Statistical Tables
IMD WORLD COMPETITIVENESS YEARBOOK 201920
Page 4: Balance Sheet
This page highlights the economy’s strongest and weakest criteria within each actor, which are shown in the form of a balance sheet . ach balance sheet identifies the criteria in which the economy ranks best strengths and the criteria in which its performance is the worst weaknesses . The selection of indicators is determined by the standard deviation values TD of the criteria and are broken down into the four different ompetitiveness actors. In other words, the criteria selected represent the highest
TD values and the lowest TD values per actor and can thus be considered the competitive advantages and disadvantages of the economy.
The full description of the criteria can be found in the statistical tables according to the reference number.
It is important to note that what constitutes a strength or weakness is relative to each economy’s circumstances or development.
nce again, certain criteria have been e cluded from the selection those for which the economy has no control or which may have only a very limited impact on competitiveness. or more details, please refer to the section Methodology cluded criteria.
IMD WORLD COMPETITIVENESS YEARBOOK 2019 21
Statistical Tables
This section presents the data for all criteria and economies that are included in the IMD World
ompetitiveness anking. The economies are ranked on a global basis from the most to the least competitive. A low ranking number indicates a strong competitive position and vice-versa. However, with some criteria the inverse may be true where the lowest value is the most competitive, for e ample, overnment Debt. In these cases, an inverse ranking is used.
conomies are ranked by individual criterion and all criteria are grouped by ompetitiveness actor. The statistical tables present Hard data (A) drawn from international, national and regional organizations.
ollaboration with 6 artner Institutes worldwide helps us gather complete, up-to-date and reliable statistics.
When statistical data is not available or is too out-dated to be relevant for a particular economy, the name appears at the bottom of the statistical table and a dash is shown. When the data is older that the reference year, the year of the data is shown ne t to the criterion value.
The tables also consist of Survey responses (B) from our annual ecutive pinion urvey. Additional information is provided as background data.
The urvey icon indicates that the data is drawn from our ecutive pinion urvey.
All background data are shown by the ackground icon at the top of the table.
Only Hard data and Survey responses are used in the consolidation to determine the rankings. ackground data is not included but provided for information only. The statistical tables which display a anking column indicate that the criterion is used when consolidating the data for the verall coreboard. The ranking shows the economy’s performance in that particular criterion. When data is not available or is too old to be relevant, a dash is shown.
<PICT>!\\Nestor\appl$\WCC\prod\App\BackgroundInfo.png
US$ billions
1 GERMANY 68.48
2 RUSSIA 46.00
3 KOREA REP. 44.60
4 NORWAY 31.35
5 NETHERLANDS 13.39
6 HONG KONG SAR 8.67
7 SWEDEN 4.97
8 GREECE 2.35
9 SWITZERLAND 2.32
10 CZECH REPUBLIC 2.18
11 DENMARK 1.80
12 LUXEMBOURG 1.67
13 SINGAPORE 1.57
14 BULGARIA 1.30
15 NEW ZEALAND 0.71
16 AUSTRIA 0.50
17 SLOVENIA 0.40
18 LITHUANIA 0.35
19 ICELAND 0.28
20 QATAR 0.08
21 IRELAND 0.05
22 ESTONIA -0.17
23 CROATIA -0.30
24 LATVIA -0.35
25 MONGOLIA -0.44
26 SLOVAK REPUBLIC -0.74
27 JORDAN -1.03
28 PORTUGAL -1.08
29 CYPRUS -1.17
30 THAILAND -1.26
31 FINLAND -1.83
32 POLAND -2.21
33 KAZAKHSTAN -2.42
34 UKRAINE -2.81
35 PHILIPPINES -3.27
36 HUNGARY -3.46
37 BELGIUM -3.65
38 CHILE -4.54
39 PERU -4.80
40 ROMANIA -7.23
41 COLOMBIA -7.32
42 CANADA -7.40
43 UAE -7.53
44 AUSTRALIA -7.55
45 TAIWAN, CHINA -7.77
46 ISRAEL -10.83
47 MALAYSIA -13.22
48 SOUTH AFRICA -16.34
49 INDONESIA -22.89
50 ARGENTINA -26.72
51 TURKEY -27.81
52 MEXICO -28.46
53 SPAIN -35.39
54 SAUDI ARABIA -36.27
55 UNITED KINGDOM -40.20
56 ITALY -44.27
57 VENEZUELA -66.91 2017
58 FRANCE -70.31
59 BRAZIL -133.41
60 JAPAN -159.44
61 INDIA -160.81
62 CHINA -644.44
63 USA -873.09
Ranking
Public Finance 2.1.01
GOVERNMENT BUDGET
SURPLUS/DEFICIT ($BN) 2018US$ billions
Hard data (A)
<PICT>!\\Nestor\appl$\WCC\prod\App\Survey.png
Survey [0..10]
1 SINGAPORE 8.79
2 DENMARK 8.60
3 ESTONIA 8.58
4 SWEDEN 8.49
5 NETHERLANDS 8.48
6 UAE 8.38
7 IRELAND 8.29
8 HONG KONG SAR 8.26
9 FINLAND 8.24
10 USA 7.98
11 SWITZERLAND 7.90
12 KAZAKHSTAN 7.89
13 SAUDI ARABIA 7.86
14 LUXEMBOURG 7.84
15 PORTUGAL 7.80
16 AUSTRALIA 7.71
17 NORWAY 7.70
18 ICELAND 7.52
19 NEW ZEALAND 7.45
20 QATAR 7.41
21 UNITED KINGDOM 7.35
22 MALAYSIA 7.28
23 CANADA 7.27
24 CHILE 7.19
25 LITHUANIA 7.06
26 LATVIA 6.96
27 HUNGARY 6.94
28 INDONESIA 6.91
29 CYPRUS 6.90
30 TURKEY 6.85
31 JAPAN 6.73
32 CHINA 6.73
33 THAILAND 6.69
34 INDIA 6.65
35 AUSTRIA 6.29
35 BULGARIA 6.29
35 JORDAN 6.29
38 FRANCE 6.25
39 SLOVENIA 6.19
40 TAIWAN, CHINA 6.17
41 MONGOLIA 6.15
42 SOUTH AFRICA 6.13
43 BELGIUM 6.03
44 GERMANY 5.88
45 UKRAINE 5.85
46 PHILIPPINES 5.79
47 RUSSIA 5.78
48 POLAND 5.55
49 KOREA REP. 5.36
50 CZECH REPUBLIC 5.06
51 ROMANIA 5.04
52 ISRAEL 4.93
53 PERU 4.90
54 MEXICO 4.76
55 ARGENTINA 4.68
56 SPAIN 4.42
57 COLOMBIA 4.33
58 CROATIA 4.21
59 GREECE 4.09
60 SLOVAK REPUBLIC 4.09
61 ITALY 3.91
62 BRAZIL 2.49
63 VENEZUELA 1.63
hindered by legislation supported by legislation
Ranking
Business Legislation - Competition and Regulations 2.4.13
CREATION OF FIRMS
2019Creation of firms is
Survey Responses (B)
IMD WORLD COMPETITIVENESS YEARBOOK 2019 33
RANKINGS IN A NUTSHELL
(2018 rankings are in parentheses)
COMPETITIVENESS RANKING (Ranks 1 - 30)
(3) Singapore 1
(2) Hong Kong SAR 2
(1) USA 3
(5) Switzerland 4
(7) UAE 5
(4) Netherlands 6
(12) Ireland 7
(6) Denmark 8
(9) Sweden 9
(14) Qatar 10
(8) Norway 11
(11) Luxembourg 12
(10) Canada 13
(13) China 14
(16) Finland 15
(17) Taiwan, China 16
(15) Germany 17
(19) Australia 18
(18) Austria 19
(24) Iceland 20
(23) New Zealand 21
(22) Malaysia 22
(20) United Kingdom 23
(21) Israel 24
(30) Thailand 25
(39) Saudi Arabia 26
(26) Belgium 27
(27) Korea Rep. 28
(32) Lithuania 29
(25) Japan 30
100.000
97.986
97.119
96.005
95.891
94.366
94.218
93.425
92.585
91.948
91.693
91.216
89.222
88.775
88.526
88.239
85.739
85.506
84.407
83.133
83.102
82.544
81.839
80.152
77.233
77.207
77.074
76.504
76.234
74.749
0 10 20 30 40 50 60 70 80 90 100
The 2019 IMD World
IMD WORLD COMPETITIVENESS YEARBOOK 201934
(2018 rankings are in parentheses)
COMPETITIVENESS RANKING (Ranks 31 - 63)
(28) France 31
(43) Indonesia 32
(29) Czech Republic 33
(38) Kazakhstan 34
(31) Estonia 35
(36) Spain 36
(37) Slovenia 37
(34) Poland 38
(33) Portugal 39
(40) Latvia 40
(41) Cyprus 41
(35) Chile 42
(44) India 43
(42) Italy 44
(45) Russia 45
(50) Philippines 46
(47) Hungary 47
(48) Bulgaria 48
(49) Romania 49
(51) Mexico 50
(46) Turkey 51
(58) Colombia 52
(55) Slovak Republic 53
(59) Ukraine 54
(54) Peru 55
(53) South Africa 56
(52) Jordan 57
(57) Greece 58
(60) Brazil 59
(61) Croatia 60
(56) Argentina 61
(62) Mongolia 62
(63) Venezuela 63
74.343
73.597
73.476
72.826
72.678
72.088
71.346
71.169
69.276
68.811
67.730
67.690
67.179
65.340
65.201
64.727
63.537
61.654
60.495
59.802
59.673
57.585
57.532
57.303
57.206
57.102
55.450
53.138
50.952
50.791
49.042
45.186
20.113
0 10 20 30 40 50 60 70 80 90 100
The IMD World Competitiveness Ranking presents the 2019 overall ranking for the 63 economies covered b y the WCY. The economies are ranked from the most to the least competitive and the results from the previous year’ s ranking ( 2018) are shown in b rackets. The Scores shown to the left are actually indices ( 0 to 100) generated for the unique purpose of constructing charts and graphics.
Competitiveness Ranking
IMD WORLD COMPETITIVENESS YEARBOOK 2019 35
IMD WORLD COMPETITIVENESS YEARBOOK 201936
Methodology in a NutshellThe IMD World Competitiveness ranking analyzes and ranks the capacity of countries to create and maintain an environment which sustains the competitiveness of enterprises.
It means that we assume that wealth creation takes place primarily at enterprise level ( whether private or state-owned) - this field of research is called competitiveness of enterprises .
However, enterprises operate in a national environment which enhances or hinders their ab ility to compete domestically or internationally - this field of research is called competitiveness of countries and is covered by the World Competitiveness ranking.
Based on analysis made b y leading scholars and b y our own research and experience, the methodology of the World ompetitiveness ranking thus divides the national environment into four main factors
Economic Performanceovernment fficiencyusiness fficiency
Infrastructure
In turn, each of these factors is divided into 5 sub -factors which highlight every facet of the areas analyzed. Altogether, the World Competitiveness ranking features 20 such sub -factors.
These 20 sub -factors comprise 332 criteria, although each sub -factor does not necessarily have the same numb er of criteria ( for example, it takes more criteria to assess Education than to evaluate Prices) .
Each sub -factor, independently of the numb er of criteria it contains, has the same weight in the overall consolidation of results, that is 5% ( 20x5 = 100) .
Criteria can b e hard data, which analyze competitiveness as it can b e measured ( e.g. G DP) or soft data, which analyze competitiveness as it is perceived ( e.g. availab ility of competent managers) . Hard criteria represent a weight of 2/3 in the overall ranking whereas the survey data represent a weight of 1/3.
In addition, some criteria are for b ackground information only, which means that they are not used in calculating the overall competitiveness ranking ( e.g. population under 15) .
Finally, aggregating the results of the 20 sub -factors makes the total consolidation, which leads to the overall ranking of the IMD World Competitiveness ranking.
1.
2.
3.
4.
5.
6.
7 .
8.
9.
10.
IMD WORLD COMPETITIVENESS YEARBOOK 2019 37
What is the IMD World Competitiveness Ranking?
Competitiveness Factors and Sub-factors
Economic Performance overnment fi ien y usiness fi ien y Infrastructure
Macro- economic evaluation of the domestic
economy , employm ent trends and prices.
Extent to w hich g overnment policies
are conducive to competitiveness.
Extent to w hich the national environment
encourag es enterprises to perform in an innovative, profitable and responsible
manner.
tent to hich basic technological scientific and human resources
meet the needs of businesses.
Domestic Economy
International Trade
International Investment
Employment
Prices
FA
CT
OR
SS
UB
-FA
CT
OR
S Pub lic Finance
Tax Policy
Institutional Framework
Business Legislation
Societal Framework
Productivity
Lab or Market
Finance
Management Practices
Attitudes and Values
Basic Infrastructure
Technological Infrastructure
cientific Infrastructure
Health and Environment
Education
Computing the Rankings
Hard Data
Statistics from internationalregional and national sources
143 Criteria
Survey Data
International Panel of Experts Executive Opinion Survey
92 Criteria
Compute STD Values
Individually, for all criteria usedin the rankings
235 Criteria
Criteria Rankings
Each of the 332 criteria is individually ranked for the
countries
Factor Rankings
Economic performance, overnment efficiency, usiness
efficiency, Infrastructure
Overall Rankings
Aggregates the STD values for all the 235 ranked criteria
IMD WORLD COMPETITIVENESS YEARBOOK 201938
The 2019 IMD World Competitiveness Rankings: Selected Breakdowns
Populations greater than 20 million
USA 1
Canada 2
China 3
Taiwan, China 4
Germany 5
Australia 6
Malaysia 7
United Kingdom 8
Thailand 9
Saudi Arabia 10
Korea Rep. 11
Japan 12
France 13
Indonesia 14
Spain 15
Poland 16
India 17
Italy 18
Russia 19
Philippines 20
Mexico 21
Turkey 22
Colombia 23
Ukraine 24
Peru 25
South Africa 26
Brazil 27
Argentina 28
Venezuela 29
97.119
89.222
88.775
88.239
85.739
85.506
82.544
81.839
77.233
77.207
76.504
74.749
74.343
73.597
72.088
71.169
67.179
65.340
65.201
64.727
59.802
59.673
57.585
57.303
57.206
57.102
50.952
49.042
20.113
0 10 20 30 40 50 60 70 80 90 100
Populations greater than 20 million
IMD WORLD COMPETITIVENESS YEARBOOK 2019 39
Populations less than 20 million
Singapore 1
Hong Kong SAR 2
Switzerland 3
UAE 4
Netherlands 5
Ireland 6
Denmark 7
Sweden 8
Qatar 9
Norway 10
Luxembourg 11
Finland 12
Austria 13
Iceland 14
New Zealand 15
Israel 16
Belgium 17
Lithuania 18
Czech Republic 19
Kazakhstan 20
Estonia 21
Slovenia 22
Portugal 23
Latvia 24
Cyprus 25
Chile 26
Hungary 27
Bulgaria 28
Romania 29
Slovak Republic 30
Jordan 31
Greece 32
Croatia 33
Mongolia 34
100.000
97.986
96.005
95.891
94.366
94.218
93.425
92.585
91.948
91.693
91.216
88.526
84.407
83.133
83.102
80.152
77.074
76.234
73.476
72.826
72.678
71.346
69.276
68.811
67.730
67.690
63.537
61.654
60.495
57.532
55.450
53.138
50.791
45.186
0 10 20 30 40 50 60 70 80 90 100
Populations less than 20 million
IMD WORLD COMPETITIVENESS YEARBOOK 201940
GDP per capita greater than $20,000
Singapore 1
Hong Kong SAR 2
USA 3
Switzerland 4
UAE 5
Netherlands 6
Ireland 7
Denmark 8
Sweden 9
Qatar 10
Norway 11
Luxembourg 12
Canada 13
Finland 14
Taiwan, China 15
Germany 16
Australia 17
Austria 18
Iceland 19
New Zealand 20
United Kingdom 21
Israel 22
Saudi Arabia 23
Belgium 24
Korea Rep. 25
Japan 26
France 27
Czech Republic 28
Estonia 29
Spain 30
Slovenia 31
Portugal 32
Cyprus 33
Italy 34
Greece 35
100.000
97.986
97.119
96.005
95.891
94.366
94.218
93.425
92.585
91.948
91.693
91.216
89.222
88.526
88.239
85.739
85.506
84.407
83.133
83.102
81.839
80.152
77.207
77.074
76.504
74.749
74.343
73.476
72.678
72.088
71.346
69.276
67.730
65.340
53.138
0 10 20 30 40 50 60 70 80 90 100
GDP per capita greater than $20,000
IMD WORLD COMPETITIVENESS YEARBOOK 2019 41
GDP per capita less than $20,000
China 1
Malaysia 2
Thailand 3
Lithuania 4
Indonesia 5
Kazakhstan 6
Poland 7
Latvia 8
Chile 9
India 10
Russia 11
Philippines 12
Hungary 13
Bulgaria 14
Romania 15
Mexico 16
Turkey 17
Colombia 18
Slovak Republic 19
Ukraine 20
Peru 21
South Africa 22
Jordan 23
Brazil 24
Croatia 25
Argentina 26
Mongolia 27
Venezuela 28
88.775
82.544
77.233
76.234
73.597
72.826
71.169
68.811
67.690
67.179
65.201
64.727
63.537
61.654
60.495
59.802
59.673
57.585
57.532
57.303
57.206
57.102
55.450
50.952
50.791
49.042
45.186
20.113
0 10 20 30 40 50 60 70 80 90 100
GDP per capita less than $20,000
IMD WORLD COMPETITIVENESS YEARBOOK 201942
Europe - Middle East - Africa
Switzerland 1
UAE 2
Netherlands 3
Ireland 4
Denmark 5
Sweden 6
Qatar 7
Norway 8
Luxembourg 9
Finland 10
Germany 11
Austria 12
Iceland 13
United Kingdom 14
Israel 15
Saudi Arabia 16
Belgium 17
Lithuania 18
France 19
Czech Republic 20
Kazakhstan 21
Estonia 22
Spain 23
Slovenia 24
Poland 25
Portugal 26
Latvia 27
Cyprus 28
Italy 29
Russia 30
Hungary 31
Bulgaria 32
Romania 33
Turkey 34
Slovak Republic 35
Ukraine 36
South Africa 37
Jordan 38
Greece 39
Croatia 40
96.005
95.891
94.366
94.218
93.425
92.585
91.948
91.693
91.216
88.526
85.739
84.407
83.133
81.839
80.152
77.207
77.074
76.234
74.343
73.476
72.826
72.678
72.088
71.346
71.169
69.276
68.811
67.730
65.340
65.201
63.537
61.654
60.495
59.673
57.532
57.303
57.102
55.450
53.138
50.791
0 10 20 30 40 50 60 70 80 90 100
Europe - Middle East - Africa
IMD WORLD COMPETITIVENESS YEARBOOK 2019 43
Asia - Pacific
Singapore 1
Hong Kong SAR 2
China 3
Taiwan, China 4
Australia 5
New Zealand 6
Malaysia 7
Thailand 8
Korea Rep. 9
Japan 10
Indonesia 11
India 12
Philippines 13
Mongolia 14
100.000
97.986
88.775
88.239
85.506
83.102
82.544
77.233
76.504
74.749
73.597
67.179
64.727
45.186
0 10 20 30 40 50 60 70 80 90 100
The Americas
USA 1
Canada 2
Chile 3
Mexico 4
Colombia 5
Peru 6
Brazil 7
Argentina 8
Venezuela 9
97.119
89.222
67.690
59.802
57.585
57.206
50.952
49.042
20.113
0 10 20 30 40 50 60 70 80 90 100
si cific
The Americas
IMD WORLD COMPETITIVENESS YEARBOOK 201944
(2018 rankings are in parentheses)
ECONOMIC PERFORMANCEMacro-economic evaluation of the domestic economy
(1) USA 1( )(2) China 2( )
(5) Qatar 3( )(4) Luxembourg 4( ) g(7) Singapore 5( ) gapp
(11) Ireland 6( )(3) UAE 7( )
(10) Thailand 8( ))(12) Germany 9( )) y
(9) Hong Kong SAR 10( ) g g(8) Malaysia 11( ) y
(13) Canada 12( )(6) Netherlands 13( )
(19) Australia 14(( )(14) Taiwan, China 15(( )(15) Japan 16( ) J p(16) Czech Republic 17( ) p(18) Poland 18( )(22) Cyprus 19( ) yp
(17) Austria 20( )(24) Sweden 21( )(45) United Kingdom 22( )) g
(25) Switzerland 23( )(21) India 24( )(27) Indonesia 25( )(26) Denmark 26( )
(20) Korea Rep. 27( ) p(35) Mexico 28( )(31) Spain 29( ) Sp(23) Saudi Arabia 30( )(38) Russia 31( )(40) Norway 32( ) y(29) Slovenia 33( )(30) France 34( )
(43) Finland 35( )(33) New Zealand 36( )(44) Belgium 37( ) g(50) Philippines 38( ) pp(36) Lithuania 39( )
(37) Israel 40( )(55) Peru 41(( )
(46) Slovak Republic 42( ) p(42) Portugal 43( ) ga(32) Estonia 44( )(49) Kazakhstan 45( )(39) Hungary 46( ) ga y(28) Bulgaria 47( ) ga(41) Chile 48( )(34) Romania 49( ))(51) Colombia 50( ))
(52) Turkey 51( ) y(53) Latvia 52( )
(47) Italy 53( ) y(57) Iceland 54( )
(56) Croatia 55( )(58) Ukraine 56( )(54) Brazil 57( )
(48) Mongolia 58( ) g(59) South Africa 59( )
(61) Greece 60( )(60) Argentina 61
(62) Jordan 62(63) Venezuela 63
95.543 91.705 89.538 83.131 83.067 81.005 78.251 76.653 76.382 75.107 74.205 71.430 70.327 68.980 68.640 68.426 68.345 68.040 67.997 67.528 67.171 66.873 66.125 64.863 64.423 64.398 63.429 63.147 62.935 62.703 62.320 62.276 62.267 62.243 61.647 60.781 60.344 60.143 60.006 59.556 58.945 58.324 57.769 57.673 57.501 57.384 57.190 56.923 56.673 56.525 55.968 55.848 54.646 53.093 51.749 51.505 51.381 49.651 44.477 42.574 40.849 27.771
0 10 20 30 40 50 60 70 80 90 100
Economic Performance
Macro-economic evaluation of the domestic economy
( 2018 rankings are in parentheses)
IMD WORLD COMPETITIVENESS YEARBOOK 2019 45
(2018 rankings are in parentheses)
GOVERNMENT EFFICIENCYExtent to which government policies are conducive to competitiveness
(1) Hong Kong SAR 1gg(4) UAE 2( )
(3) Singapore 3(( ) gap(2) Switzerland 4))
(10) Qatar 5( )(6) Denmark 6( )(5) Norway 7( ) y 7
(7) New Zealand 8( )(8) Netherlands 9( )(17) Luxembourg 10( )
(13) Ireland 11( )(12) Taiwan, China 12( )
(14) Australia 13(( )(9) Canada 14( )(16) Iceland 15( )
(11) Sweden 16( )(15) Finland 17( )
(30) Saudi Arabia 18( )(18) United Kingdom 19( ) g
(22) Thailand 20( )(25) Kazakhstan 21(( )(19) Germany 22(( )(26) USA 23(( )
(23) Malaysia 24( ) y(36) Indonesia 25( )(24) Chile 26( ))(21) Estonia 27( ))
(32) Austria 28( )(31) Lithuania 29( )(20) Israel 30( )
(29) Korea Rep. 31( ) p(28) Cyprus 32( ) yp
(33) Latvia 33( )(27) Czech Republic 34( )
(46) China 35( )(35) Belgium 36( ) g
(34) Portugal 37( ) ga(41) Japan 38( ) J p
(42) Slovenia 39( )(38) Spain 40( ) SpSp(44) Philippines 41( ) pp
(37) Bulgaria 42( ) ga(43) Jordan 43( ) J(40) Poland 44( )
(48) Hungary 45( ) gaga y(50) India 46( )(52) Russia 47( )
(39) France 48( )(47) Peru 49( )
(49) South Africa 50( )(51) Romania 51(( )(54) Mexico 52( )
(53) Italy 53( ) y(59) Ukraine 54( )
(45) Turkey 55( ) y(58) Colombia 56( )(55) Slovak Republic 57( )
(56) Croatia 58( )(57) Mongolia 59( )
(61) Greece 60( )(60) Argentina 61( ) g
(62) Brazil 62(63) Venezuela 63
97.390 95.585 93.835 93.194 91.918 85.161 85.030 82.512 81.905 81.619 80.793 79.974 78.484 78.264 78.009 77.378 75.400 72.913 70.374 69.837 68.944 68.926 68.523 67.808 67.259 66.881 66.871 65.499 63.687 63.364 62.072 61.362 59.785 59.637 57.833 57.637 57.013 56.937 56.175 55.904 55.713 55.246 54.084 54.053 53.074 52.543 52.429 51.222 50.920 50.437 48.536 48.101 44.096 43.688 42.705 42.704 42.611 40.877 39.596 34.441 28.112 25.067
2.889
0 10 20 30 40 50 60 70 80 90 100
e n en Efficiency
Extent to which government policies are conductive to competitiveness
( 2018 rankings are in parentheses)
IMD WORLD COMPETITIVENESS YEARBOOK 201946
(2018 rankings are in parentheses)
Extent to which enterprises are performing in an innovative, profitable and responsible manner
BUSINESS EFFICIENCY
(2) UAE 1(2) UAE 1(2) UAE 1(2) UAE 1(1) Hong Kong SAR 2(1) Hong Kong SAR 2(1) Hong Kong SAR 2(1) Hong Kong SAR 2
(10) Ireland 3(10) Ireland 3(10) Ireland 3(10) Ireland 3(6) Netherlands 4(6) Netherlands 4(6) Netherlands 4(6) Netherlands 4
(11) Singapore 5(11) Singapore 5(4) Sweden 6(4) Sweden 6(4) Sweden 6
(3) Denmark 7(3) Denmark 7(3) Denmark 7(5) Norway 8(5) Norway 8(5) Norway 8
(9) Switzerland 9(9) Switzerland 9(9) Switzerland 9(13) Qatar 10(13) Qatar 10(13) Qatar 10
(12) USA 11(12) USA 11(12) USA 11(8) Luxembourg 12(8) Luxembourg 12(8) Luxembourg 12(16) Finland 13(16) Finland 13(16) Finland 13
(20) Taiwan, China 14(20) Taiwan, China 14(20) Taiwan, China 14(15) China 15(15) China 15(15) China 15
(7) Canada 16(7) Canada 16(14) Austria 17(14) Austria 17(14) Austria 17(17) Malaysia 18(17) Malaysia 18(17) Malaysia 18
(22) Iceland 19(22) Iceland 19(22) Iceland 19(35) Indonesia 20(35) Indonesia 20(35) Indonesia 20(18) Israel 21(18) Israel 21(18) Israel 21
(28) New Zealand 22(28) New Zealand 22(28) New Zealand 22(30) Lithuania 23(30) Lithuania 23(30) Lithuania 23(24) Australia 24(24) Australia 24(24) Australia 24(45) Saudi Arabia 25(45) Saudi Arabia 25(45) Saudi Arabia 25
(19) Germany 26(19) Germany 26(19) Germany 26(25) Thailand 27(25) Thailand 27(25) Thailand 27(23) Belgium 28(23) Belgium 28(23) Belgium 28(34) Kazakhstan 29(34) Kazakhstan 29(34) Kazakhstan 29
(29) India 30(29) India 30(29) India 30(21) United Kingdom 31(21) United Kingdom 31(21) United Kingdom 31
(38) Philippines 32(38) Philippines 32(27) Estonia 33(27) Estonia 33(27) Estonia 33(43) Korea Rep. 34(43) Korea Rep. 34(43) Korea Rep. 34
(39) Jordan 35(39) Jordan 35(39) Jordan 35(37) Poland 36(37) Poland 36(37) Poland 36
(32) Czech Republic 37(32) Czech Republic 37(32) Czech Republic 37(31) France 38(31) France 38(31) France 38
(42) Spain 39(42) Spain 39(42) Spain 39(47) Slovenia 40(47) Slovenia 40(47) Slovenia 40
(26) Chile 41(26) Chile 41(26) Chile 41(44) Italy 42(44) Italy 42(44) Italy 42(40) Latvia 43(40) Latvia 43(40) Latvia 43
(46) South Africa 44(46) South Africa 44(46) South Africa 44(33) Portugal 45(33) Portugal 45
(36) Japan 46(36) Japan 46(36) Japan 46(56) Colombia 47(56) Colombia 47(56) Colombia 47
(41) Turkey 48(41) Turkey 48(41) Turkey 48(48) Mexico 49(48) Mexico 49(48) Mexico 49(55) Ukraine 50(55) Ukraine 50(55) Ukraine 50
(52) Romania 51(52) Romania 51(52) Romania 51(53) Cyprus 52(53) Cyprus 52(53) Cyprus 52(54) Russia 53(54) Russia 53(54) Russia 53(57) Bulgaria 54(57) Bulgaria 54(57) Bulgaria 54
(51) Peru 55(51) Peru 55(51) Peru 55(58) Hungary 56(58) Hungary 56
(50) Brazil 57(50) Brazil 57(59) Greece 58(59) Greece 58(59) Greece 58(49) Argentina 59(49) Argentina 59(49) Argentina 59
(60) Slovak Republic 60(60) Slovak Republic 60(61) Mongolia 61(61) Mongolia 61(61) Mongolia 61
(63) Venezuela 62(63) Venezuela 62(63) Venezuela 62(62) Croatia 63
100.000 97.726 95.142 92.658 89.310 88.461 86.654 86.426 85.628 85.276 83.550 82.663 82.400 81.931 80.590 79.370 76.384 76.360 75.142 73.586 73.306 71.136 70.223 70.098 69.843 69.076 68.444 68.151 67.690 65.107 64.638 60.906 58.410 58.185 57.189 56.054 55.400 55.290 54.586 53.756 53.244 52.799 52.791 51.484 50.950 48.229 46.715 46.199 44.754 44.567 43.378 42.329 42.084 41.899 41.019 40.521 39.244 35.936 35.785 33.718 22.686 18.048 17.839
0 10 20 30 40 50 60 70 80 90 100
Business Efficiency
tent to which enterprises are performing in an innovative, profitable and responsible manner
( 2018 rankings are in parentheses)
IMD WORLD COMPETITIVENESS YEARBOOK 2019 47(2018 rankings are in parentheses)
INFRASTRUCTUREExtent to which basic, technological, scientific and human resources meet the needs of business
(1) USA 1(1) USA 1(1) USA 1(2) Switzerland 2(2) Switzerland 2(2) Switzerland 2(2) Switzerland 2(3) Denmark 3(3) Denmark 3(3) Denmark 3(5) Sweden 4(5) Sweden 4
(6) Finland 5(6) Finland 5(6) Finland 5(8) Singapore 6(8) Singapore 6(8) Singapore 6
(4) Norway 7(4) Norway 7(4) Norway 7(9) Netherlands 8(9) Netherlands 8(9) Netherlands 8
(12) France 9(12) France 9(12) France 9(11) Germany 10(11) Germany 10(11) Germany 10(14) Austria 11(14) Austria 11(14) Austria 11(7) Canada 12(7) Canada 12(7) Canada 12
(17) Iceland 13(17) Iceland 13(17) Iceland 13(10) United Kingdom 14(10) United Kingdom 14(15) Japan 15(15) Japan 15(19) China 16(19) China 16(19) China 16
(16) Australia 17(16) Australia 17(16) Australia 17(13) Israel 18(13) Israel 18(13) Israel 18
(22) Taiwan, China 19(22) Taiwan, China 19(22) Taiwan, China 19(18) Korea Rep. 20(18) Korea Rep. 20(18) Korea Rep. 20(20) Belgium 21(20) Belgium 21(20) Belgium 21(23) Hong Kong SAR 22(23) Hong Kong SAR 22(23) Hong Kong SAR 22
(21) Ireland 23(21) Ireland 23(21) Ireland 23(25) New Zealand 24(25) New Zealand 24(25) New Zealand 24
(24) Luxembourg 25(24) Luxembourg 25(27) Spain 26(27) Spain 26(27) Spain 26
(28) Slovenia 27(28) Slovenia 27(28) Slovenia 27(33) Malaysia 28(33) Malaysia 28(33) Malaysia 28(26) Portugal 29(26) Portugal 29(26) Portugal 29(29) Lithuania 30(29) Lithuania 30(29) Lithuania 30
(30) Czech Republic 31(30) Czech Republic 31(30) Czech Republic 31(31) Italy 32(31) Italy 32(31) Italy 32(36) UAE 33(36) UAE 33(36) UAE 33
(32) Estonia 34(32) Estonia 34(32) Estonia 34(37) Latvia 35(37) Latvia 35(37) Latvia 35(34) Poland 36(34) Poland 36
(35) Russia 37(35) Russia 37(35) Russia 37(44) Saudi Arabia 38(44) Saudi Arabia 38(44) Saudi Arabia 38(39) Hungary 39(39) Hungary 39(39) Hungary 39
(38) Qatar 40(38) Qatar 40(38) Qatar 40(40) Greece 41(40) Greece 41(40) Greece 41(41) Cyprus 42(41) Cyprus 42(41) Cyprus 42
(42) Kazakhstan 43(42) Kazakhstan 43(42) Kazakhstan 43(45) Slovak Republic 44(45) Slovak Republic 44(45) Slovak Republic 44
(48) Thailand 45(48) Thailand 45(48) Thailand 45(50) Turkey 46(50) Turkey 46(50) Turkey 46(43) Chile 47(43) Chile 47(43) Chile 47(49) Romania 48(49) Romania 48(49) Romania 48
(46) Croatia 49(46) Croatia 49(46) Croatia 49(51) Bulgaria 50(51) Bulgaria 50(51) Bulgaria 50
(47) Argentina 51(47) Argentina 51(47) Argentina 51(53) Ukraine 52(53) Ukraine 52(53) Ukraine 52(59) Indonesia 53(59) Indonesia 53(59) Indonesia 53
(52) Brazil 54(52) Brazil 54(56) India 55(56) India 55
(58) Colombia 56(58) Colombia 56(58) Colombia 56(55) Mexico 57(55) Mexico 57(55) Mexico 57
(54) Jordan 58(54) Jordan 58(54) Jordan 58(60) Philippines 59(60) Philippines 59(60) Philippines 59(57) South Africa 60(57) South Africa 60(57) South Africa 60
(61) Peru 61(61) Peru 61(62) Mongolia 62(62) Mongolia 62
(63) Venezuela 63
94.593 92.806 91.221 91.060 88.387 87.519 86.770 86.305 82.346 82.303 81.951 81.555 80.019 79.202 79.134 78.702 78.195 78.115 76.143 76.061 75.895 75.453 73.665 71.711 71.182 68.656 66.918 65.533 65.104 64.751 64.251 63.551 63.461 61.490 60.550 60.262 57.704 57.102 56.902 54.790 53.331 52.965 50.899 49.208 47.731 47.551 47.444 47.124 46.430 46.015 45.155 43.184 42.851 41.847 39.936 38.128 36.937 36.486 35.876 35.742 31.670 22.541 13.248
0 10 20 30 40 50 60 70 80 90 100
Infrastructure
tent to which basic, technological, scientific and human resources meet the needs of business
( 2018 rankings are in parentheses)
IMD WORLD COMPETITIVENESS YEARBOOK 201948
2015 2016 2017 2018 2019 2015 2016 2017 2018 2019Argentina 59 55 58 56 61 56 53 56 60 61 Australia 18 17 21 19 18 28 24 25 19 14 Austria 26 24 25 18 19 21 19 40 17 20 Belgium 23 22 23 26 27 22 33 23 44 37 Brazil 56 57 61 60 59 51 55 59 54 57 Bulgaria 55 50 49 48 48 48 40 37 28 47 Canada 5 10 12 10 13 10 14 16 13 12 Chile 35 36 35 35 42 32 34 34 41 48 China 22 25 18 13 14 4 3 2 2 2 Colombia 51 51 54 58 52 46 46 41 51 50 Croatia 58 58 59 61 60 57 56 57 56 55 Cyprus - - 37 41 41 - - 28 22 19 Czech Republic 29 27 28 29 33 26 20 19 16 17 Denmark 8 6 7 6 8 23 22 20 26 26 Estonia 31 31 30 31 35 40 39 44 32 44 Finland 20 20 15 16 15 52 47 45 43 35 France 32 32 31 28 31 27 25 24 30 34 Germany 10 12 13 15 17 8 8 7 12 9 Greece 50 56 57 57 58 58 58 61 61 60 Hong Kong SAR 2 1 1 2 2 9 5 11 9 10 Hungary 48 46 52 47 47 17 26 36 39 46 Iceland 24 23 20 24 20 44 29 39 57 54 India 44 41 45 44 43 16 16 18 21 24 Indonesia 42 48 42 43 32 36 37 33 27 25 Ireland 16 7 6 12 7 12 6 4 11 6 Israel 21 21 22 21 24 30 31 31 37 40 Italy 38 35 44 42 44 41 36 38 47 53 Japan 27 26 26 25 30 29 18 14 15 16 Jordan 52 53 56 52 57 59 57 62 62 62 Kazakhstan 34 47 32 38 34 31 52 54 49 45 Korea Rep. 25 29 29 27 28 15 21 22 20 27 Latvia 43 37 40 40 40 53 51 53 53 52 Lithuania 28 30 33 32 29 35 45 42 36 39 Luxembourg 6 11 8 11 12 5 7 3 4 4 Malaysia 14 19 24 22 22 6 11 13 8 11 Mexico 39 45 48 51 50 19 23 30 35 28 Mongolia 57 60 62 62 62 55 59 60 48 58 Netherlands 15 8 5 4 6 25 9 9 6 13 New Zealand 17 16 16 23 21 37 41 32 33 36 Norway 7 9 11 8 11 24 32 48 40 32 Peru 54 54 55 54 55 50 50 50 55 41 Philippines 41 42 41 50 46 34 38 26 50 38 Poland 33 33 38 34 38 33 27 27 18 18 Portugal 36 39 39 33 39 45 48 51 42 43 Qatar 13 13 17 14 10 2 2 8 5 3 Romania 47 49 50 49 49 47 42 49 34 49 Russia 45 44 46 45 45 43 49 46 38 31 Saudi Arabia - - 36 39 26 - - 21 23 30 Singapore 3 4 3 3 1 3 4 6 7 5 Slovak Republic 46 40 51 55 53 54 44 52 46 42 Slovenia 49 43 43 37 37 42 43 47 29 33 South Africa 53 52 53 53 56 49 54 58 59 59 Spain 37 34 34 36 36 39 30 35 31 29 Sweden 9 5 9 9 9 20 17 17 24 21 Switzerland 4 2 2 5 4 14 10 15 25 23 Taiwan, China 11 14 14 17 16 11 15 12 14 15 Thailand 30 28 27 30 25 13 13 10 10 8 Turkey 40 38 47 46 51 38 35 43 52 51 UAE 12 15 10 7 5 7 12 5 3 7 Ukraine 60 59 60 59 54 60 60 55 58 56 United Kingdom 19 18 19 20 23 18 28 29 45 22 USA 1 3 4 1 3 1 1 1 1 1 Venezuela 61 61 63 63 63 61 61 63 63 63
OVERALL Economic Performance2015 2016 2017 2018 2019
61 58 58 60 61 14 14 18 14 13 39 35 33 32 28 33 28 32 35 36 60 61 62 62 62 49 33 39 37 42 8 10 13 9 14
26 27 26 24 26 35 51 45 46 35 51 53 56 58 56 56 56 57 56 58
- - 22 28 32 31 29 29 27 34 10 8 7 6 6 20 20 23 21 27 17 21 16 15 17 50 52 52 39 48 18 19 21 19 22 57 59 61 61 60 1 1 1 1 1
54 54 54 48 45 22 17 8 16 15 47 47 48 50 46 30 32 30 36 25 15 13 9 13 11 24 22 24 20 30 53 50 53 53 53 42 37 35 41 38 32 44 49 43 43 21 31 19 25 21 28 26 28 29 31 45 30 36 33 33 25 24 34 31 29 12 12 15 17 10 16 18 25 23 24 41 46 51 54 52 55 55 60 57 59 13 15 12 8 9 6 4 5 7 8 7 6 6 5 7
37 41 43 47 49 36 36 37 44 41 29 34 44 40 44 34 48 40 34 37 4 5 11 10 5
46 43 47 51 51 44 39 46 52 47
- - 31 30 18 2 3 3 3 3
48 42 55 55 57 52 45 42 42 39 40 40 50 49 50 43 49 38 38 40 11 11 14 11 16 5 2 2 2 4 9 9 10 12 12
27 23 20 22 20 38 38 41 45 55 3 7 4 4 2
59 57 59 59 54 19 16 17 18 19 23 25 27 26 23 58 60 63 63 63
Government Efficiency
c n in s ye s e ie
IMD WORLD COMPETITIVENESS YEARBOOK 2019 49
2015 2016 2017 2018 2019 2015 2016 2017 2018 2019 2015 2016 2017 2018 201961 58 58 60 61 58 55 58 49 59 51 51 52 47 51 Argentina14 14 18 14 13 17 17 27 24 24 19 18 18 16 17 Australia39 35 33 32 28 28 22 17 14 17 20 12 11 14 11 Austria33 28 32 35 36 22 19 26 23 28 17 13 13 20 21 Belgium60 61 62 62 62 51 51 49 50 57 53 46 51 52 54 Brazil49 33 39 37 42 60 54 56 57 54 49 47 47 51 50 Bulgaria8 10 13 9 14 3 12 11 7 16 6 9 10 7 12 Canada
26 27 26 24 26 35 36 31 26 41 44 45 45 43 47 Chile35 51 45 46 35 27 26 18 15 15 25 25 25 19 16 China51 53 56 58 56 41 45 53 56 47 54 56 58 58 56 Colombia56 56 57 56 58 61 61 63 62 63 43 43 46 46 49 Croatia
- - 22 28 32 - - 50 53 52 - - 40 41 42 Cyprus31 29 29 27 34 31 30 34 32 37 28 26 28 30 31 Czech Republic10 8 7 6 6 8 6 8 3 7 3 2 4 3 3 Denmark20 20 23 21 27 36 34 32 27 33 32 33 29 32 34 Estonia17 21 16 15 17 19 21 13 16 13 5 5 6 6 5 Finland50 52 52 39 48 39 37 40 31 38 12 15 12 12 9 France18 19 21 19 22 16 15 16 19 26 9 10 9 11 10 Germany57 59 61 61 60 43 57 57 59 58 35 38 39 40 41 Greece1 1 1 1 1 1 1 1 1 2 15 21 20 23 22 Hong Kong SAR
54 54 54 48 45 57 56 60 58 56 39 39 41 39 39 Hungary22 17 8 16 15 29 27 24 22 19 11 17 17 17 13 Iceland47 47 48 50 46 33 31 29 29 30 58 58 60 56 55 India30 32 30 36 25 34 39 30 35 20 56 57 59 59 53 Indonesia15 13 9 13 11 13 2 3 10 3 24 23 19 21 23 Ireland24 22 24 20 30 21 23 22 18 21 14 14 16 13 18 Israel53 50 53 53 53 44 35 45 44 42 31 32 33 31 32 Italy42 37 35 41 38 25 29 35 36 46 13 11 14 15 15 Japan32 44 49 43 43 47 40 47 39 35 50 52 57 54 58 Jordan21 31 19 25 21 30 44 23 34 29 41 48 43 42 43 Kazakhstan28 26 28 29 31 37 48 44 43 34 21 22 24 18 20 Korea Rep.45 30 36 33 33 42 43 39 40 43 37 37 35 37 35 Latvia25 24 34 31 29 23 28 33 30 23 30 29 30 29 30 Lithuania12 12 15 17 10 4 9 6 8 12 22 24 22 24 25 Luxembourg16 18 25 23 24 10 14 19 17 18 27 31 32 33 28 Malaysia41 46 51 54 52 38 42 36 48 49 52 53 55 55 57 Mexico55 55 60 57 59 53 58 62 61 61 59 60 62 62 62 Mongolia13 15 12 8 9 12 10 4 6 4 8 7 8 9 8 Netherlands6 4 5 7 8 15 13 20 28 22 23 20 23 25 24 New Zealand7 6 6 5 7 5 8 7 5 8 10 6 5 4 7 Norway
37 41 43 47 49 50 50 55 51 55 60 59 61 61 61 Peru36 36 37 44 41 26 24 28 38 32 57 55 54 60 59 Philippines29 34 44 40 44 32 32 37 37 36 34 34 34 34 36 Poland34 48 40 34 37 48 46 46 33 45 26 28 27 26 29 Portugal4 5 11 10 5 11 20 12 13 10 47 41 38 38 40 Qatar
46 43 47 51 51 49 49 52 52 51 42 42 50 49 48 Romania44 39 46 52 47 54 52 51 54 53 36 36 36 35 37 Russia
- - 31 30 18 - - 38 45 25 - - 44 44 38 Saudi Arabia2 3 3 3 3 7 5 10 11 5 7 8 7 8 6 Singapore
48 42 55 55 57 45 38 54 60 60 40 40 42 45 44 Slovak Republic52 45 42 42 39 56 53 48 47 40 33 30 31 28 27 Slovenia40 40 50 49 50 52 47 41 46 44 55 54 56 57 60 South Africa43 49 38 38 40 46 41 42 42 39 29 27 26 27 26 Spain11 11 14 11 16 9 4 9 4 6 4 4 3 5 4 Sweden5 2 2 2 4 6 3 5 9 9 2 3 1 2 2 Switzerland9 9 10 12 12 14 16 15 20 14 18 19 21 22 19 Taiwan, China
27 23 20 22 20 24 25 25 25 27 46 49 49 48 45 Thailand38 38 41 45 55 40 33 43 41 48 45 44 48 50 46 Turkey3 7 4 4 2 18 11 2 2 1 38 35 37 36 33 UAE
59 57 59 59 54 55 60 59 55 50 48 50 53 53 52 Ukraine19 16 17 18 19 20 18 21 21 31 16 16 15 10 14 United Kingdom23 25 27 26 23 2 7 14 12 11 1 1 2 1 1 USA58 60 63 63 63 59 59 61 63 62 61 61 63 63 63 Venezuela
InfrastructureBusiness EfficiencyGovernment Efficiency
IMD WORLD COMPETITIVENESS YEARBOOK 201950
Sub-factor Rankings
Dom
estic
Eco
nom
y
Inte
rnat
iona
l Tra
de
Inte
rnat
iona
l Inv
estm
ent
Empl
oym
ent
Pric
es
Publ
ic F
inan
ce
Tax
Pol
icy
Inst
itutio
nal F
ram
ewor
k
Busi
ness
Leg
isla
tion
Soci
etal
Fra
mew
ork
Prod
uctiv
ity &
Effi
cien
cy
Labo
r M
arke
t
Fina
nce
Man
agem
ent
Prac
tices
Att
itude
s an
d V
alue
s
Basi
c In
fras
truc
ture
Argentina 62 57 52 53 55 61 48 62 61 53 60 39 59 48 60 47Australia 10 47 15 24 32 15 23 14 10 17 22 20 14 38 27 18Austria 19 18 25 33 24 30 61 17 21 13 13 19 21 10 34 15Belgium 32 8 48 49 31 49 62 26 28 14 16 37 22 25 37 45Brazil 49 51 19 56 42 62 38 61 62 62 61 50 40 53 54 52Bulgaria 56 36 50 46 5 20 25 49 49 47 51 56 53 55 46 50Canada 17 53 10 19 7 29 19 13 14 16 19 17 9 21 13 10Chile 43 60 20 40 21 17 33 21 18 45 52 35 26 50 35 34China 1 24 7 2 54 33 52 30 44 23 26 1 25 14 8 21Colombia 50 52 35 44 10 48 35 56 53 61 58 25 50 42 47 43Croatia 57 23 43 55 36 46 55 55 60 43 57 63 61 63 63 57Cyprus 59 15 8 43 6 56 16 46 23 28 44 45 54 58 53 53Czech Republic 29 17 38 12 25 25 47 31 42 25 28 49 36 43 39 24Denmark 24 28 29 31 37 11 41 4 3 2 7 21 11 6 11 7Estonia 53 20 47 45 26 18 34 32 17 33 37 44 42 28 32 36Finland 36 39 17 42 33 27 54 7 9 4 14 29 7 12 15 16France 15 27 12 54 56 52 63 23 29 22 21 51 13 41 62 17Germany 9 13 9 14 38 14 59 16 20 15 15 30 17 32 38 22Greece 60 21 60 60 27 60 60 57 52 51 50 57 60 56 58 44Hong Kong SAR 18 4 4 17 62 1 2 8 1 20 8 6 1 3 3 3Hungary 23 12 63 34 14 45 46 39 37 41 46 59 49 49 57 32Iceland 45 46 58 8 60 2 31 27 24 6 18 34 35 13 10 1India 5 41 51 13 51 54 24 36 47 55 40 16 28 35 23 49Indonesia 7 59 36 18 16 28 4 37 45 36 45 3 32 20 14 38Ireland 4 7 3 38 41 19 20 15 6 12 1 12 20 2 1 35Israel 34 48 27 28 52 39 21 28 38 30 20 18 33 29 9 48Italy 38 25 32 58 49 58 57 44 43 42 30 53 38 39 50 56Japan 21 44 11 4 59 59 40 24 31 31 56 41 18 60 51 42Jordan 61 55 55 63 50 42 27 45 40 49 48 58 43 24 28 62Kazakhstan 48 56 39 23 35 22 15 42 25 29 36 11 41 19 24 25Korea Rep. 16 45 30 10 53 24 18 33 50 39 38 36 34 47 25 23Latvia 40 38 54 51 22 32 43 35 27 40 39 40 55 40 33 37Lithuania 52 9 59 41 13 26 36 29 26 34 23 27 46 9 20 29Luxembourg 20 5 2 15 44 6 42 10 13 5 11 22 5 23 19 13Malaysia 31 14 22 16 1 31 10 25 36 35 25 7 23 15 16 14Mexico 44 61 31 5 17 40 28 51 57 54 47 28 52 51 55 55Mongolia 42 62 44 59 2 57 32 59 58 50 62 60 62 62 45 60Netherlands 13 3 49 11 39 8 53 6 4 7 4 4 4 11 5 6New Zealand 37 49 41 22 19 10 26 12 7 10 35 24 24 22 17 20Norway 11 50 23 27 43 4 44 3 11 1 3 13 12 8 18 5Peru 47 58 46 26 8 34 30 50 46 58 59 48 48 57 41 54Philippines 12 54 42 21 46 37 14 48 54 44 49 10 39 33 29 61Poland 26 10 40 32 9 38 49 41 39 38 27 38 37 36 48 31Portugal 55 26 34 48 30 53 51 40 19 26 41 43 47 54 31 41Qatar 3 34 37 1 3 9 1 11 22 11 12 5 29 7 6 4Romania 51 40 61 35 20 43 39 52 48 52 33 55 58 52 44 58Russia 35 35 26 30 45 23 17 53 56 56 54 33 44 59 56 40Saudi Arabia 33 42 24 39 15 21 7 18 33 32 24 23 27 26 22 19Singapore 8 1 5 7 58 7 12 2 2 9 9 8 6 16 4 11Slovak Republic 39 19 56 47 23 47 50 54 59 46 34 62 57 61 59 46Slovenia 46 11 53 37 12 35 56 43 35 21 31 52 45 34 40 30South Africa 58 43 33 62 4 55 11 47 51 59 53 42 31 37 52 51Spain 27 22 13 57 28 51 45 38 34 24 32 47 30 44 43 26Sweden 14 33 14 36 40 13 58 9 8 3 6 14 10 5 7 9Switzerland 6 29 18 29 57 5 8 1 12 8 10 15 3 17 21 8Taiwan, China 25 31 28 25 11 12 5 19 30 19 17 32 15 4 12 39Thailand 30 6 21 3 29 16 6 34 32 48 43 9 19 27 26 27Turkey 41 37 45 52 34 41 37 60 41 60 42 54 51 46 49 33UAE 22 2 16 9 18 3 3 5 5 18 2 2 16 1 2 2Ukraine 54 32 57 50 47 44 22 58 55 57 55 46 56 45 36 59United Kingdom 28 30 6 20 61 36 29 20 15 27 29 31 8 30 42 28USA 2 16 1 6 48 50 13 22 16 37 5 26 2 18 30 12Venezuela 63 63 62 61 63 63 9 63 63 63 63 61 63 31 61 63
Infrastructureus ness ff c encern ent ff c encc n c erf r ance
IMD WORLD COMPETITIVENESS YEARBOOK 2019 51
Dom
estic
Eco
nom
y
Inte
rnat
iona
l Tra
de
Inte
rnat
iona
l Inv
estm
ent
Empl
oym
ent
Pric
es
Publ
ic F
inan
ce
Tax
Pol
icy
Inst
itutio
nal F
ram
ewor
k
Busi
ness
Leg
isla
tion
Soci
etal
Fra
mew
ork
Prod
uctiv
ity &
Effi
cien
cy
Labo
r M
arke
t
Fina
nce
Man
agem
ent
Prac
tices
Att
itude
s an
d V
alue
s
Basi
c In
fras
truc
ture
Argentina 62 57 52 53 55 61 48 62 61 53 60 39 59 48 60 47Australia 10 47 15 24 32 15 23 14 10 17 22 20 14 38 27 18Austria 19 18 25 33 24 30 61 17 21 13 13 19 21 10 34 15Belgium 32 8 48 49 31 49 62 26 28 14 16 37 22 25 37 45Brazil 49 51 19 56 42 62 38 61 62 62 61 50 40 53 54 52Bulgaria 56 36 50 46 5 20 25 49 49 47 51 56 53 55 46 50Canada 17 53 10 19 7 29 19 13 14 16 19 17 9 21 13 10Chile 43 60 20 40 21 17 33 21 18 45 52 35 26 50 35 34China 1 24 7 2 54 33 52 30 44 23 26 1 25 14 8 21Colombia 50 52 35 44 10 48 35 56 53 61 58 25 50 42 47 43Croatia 57 23 43 55 36 46 55 55 60 43 57 63 61 63 63 57Cyprus 59 15 8 43 6 56 16 46 23 28 44 45 54 58 53 53Czech Republic 29 17 38 12 25 25 47 31 42 25 28 49 36 43 39 24Denmark 24 28 29 31 37 11 41 4 3 2 7 21 11 6 11 7Estonia 53 20 47 45 26 18 34 32 17 33 37 44 42 28 32 36Finland 36 39 17 42 33 27 54 7 9 4 14 29 7 12 15 16France 15 27 12 54 56 52 63 23 29 22 21 51 13 41 62 17Germany 9 13 9 14 38 14 59 16 20 15 15 30 17 32 38 22Greece 60 21 60 60 27 60 60 57 52 51 50 57 60 56 58 44Hong Kong SAR 18 4 4 17 62 1 2 8 1 20 8 6 1 3 3 3Hungary 23 12 63 34 14 45 46 39 37 41 46 59 49 49 57 32Iceland 45 46 58 8 60 2 31 27 24 6 18 34 35 13 10 1India 5 41 51 13 51 54 24 36 47 55 40 16 28 35 23 49Indonesia 7 59 36 18 16 28 4 37 45 36 45 3 32 20 14 38Ireland 4 7 3 38 41 19 20 15 6 12 1 12 20 2 1 35Israel 34 48 27 28 52 39 21 28 38 30 20 18 33 29 9 48Italy 38 25 32 58 49 58 57 44 43 42 30 53 38 39 50 56Japan 21 44 11 4 59 59 40 24 31 31 56 41 18 60 51 42Jordan 61 55 55 63 50 42 27 45 40 49 48 58 43 24 28 62Kazakhstan 48 56 39 23 35 22 15 42 25 29 36 11 41 19 24 25Korea Rep. 16 45 30 10 53 24 18 33 50 39 38 36 34 47 25 23Latvia 40 38 54 51 22 32 43 35 27 40 39 40 55 40 33 37Lithuania 52 9 59 41 13 26 36 29 26 34 23 27 46 9 20 29Luxembourg 20 5 2 15 44 6 42 10 13 5 11 22 5 23 19 13Malaysia 31 14 22 16 1 31 10 25 36 35 25 7 23 15 16 14Mexico 44 61 31 5 17 40 28 51 57 54 47 28 52 51 55 55Mongolia 42 62 44 59 2 57 32 59 58 50 62 60 62 62 45 60Netherlands 13 3 49 11 39 8 53 6 4 7 4 4 4 11 5 6New Zealand 37 49 41 22 19 10 26 12 7 10 35 24 24 22 17 20Norway 11 50 23 27 43 4 44 3 11 1 3 13 12 8 18 5Peru 47 58 46 26 8 34 30 50 46 58 59 48 48 57 41 54Philippines 12 54 42 21 46 37 14 48 54 44 49 10 39 33 29 61Poland 26 10 40 32 9 38 49 41 39 38 27 38 37 36 48 31Portugal 55 26 34 48 30 53 51 40 19 26 41 43 47 54 31 41Qatar 3 34 37 1 3 9 1 11 22 11 12 5 29 7 6 4Romania 51 40 61 35 20 43 39 52 48 52 33 55 58 52 44 58Russia 35 35 26 30 45 23 17 53 56 56 54 33 44 59 56 40Saudi Arabia 33 42 24 39 15 21 7 18 33 32 24 23 27 26 22 19Singapore 8 1 5 7 58 7 12 2 2 9 9 8 6 16 4 11Slovak Republic 39 19 56 47 23 47 50 54 59 46 34 62 57 61 59 46Slovenia 46 11 53 37 12 35 56 43 35 21 31 52 45 34 40 30South Africa 58 43 33 62 4 55 11 47 51 59 53 42 31 37 52 51Spain 27 22 13 57 28 51 45 38 34 24 32 47 30 44 43 26Sweden 14 33 14 36 40 13 58 9 8 3 6 14 10 5 7 9Switzerland 6 29 18 29 57 5 8 1 12 8 10 15 3 17 21 8Taiwan, China 25 31 28 25 11 12 5 19 30 19 17 32 15 4 12 39Thailand 30 6 21 3 29 16 6 34 32 48 43 9 19 27 26 27Turkey 41 37 45 52 34 41 37 60 41 60 42 54 51 46 49 33UAE 22 2 16 9 18 3 3 5 5 18 2 2 16 1 2 2Ukraine 54 32 57 50 47 44 22 58 55 57 55 46 56 45 36 59United Kingdom 28 30 6 20 61 36 29 20 15 27 29 31 8 30 42 28USA 2 16 1 6 48 50 13 22 16 37 5 26 2 18 30 12Venezuela 63 63 62 61 63 63 9 63 63 63 63 61 63 31 61 63
Infrastructureus ness ff c encern ent ff c encc n c erf r ance
Tec
hnol
ogic
al In
fras
truc
ture
Scie
ntifi
c In
fras
truc
ture
Hea
lth a
nd E
nvir
onm
ent
Educ
atio
n
50 54 36 51 Argentina27 20 11 6 Australia26 13 9 13 Austria16 18 22 5 Belgium53 40 40 61 Brazil47 49 49 46 Bulgaria17 19 12 11 Canada45 52 42 48 Chile2 2 47 36 China52 58 50 59 Colombia57 55 37 42 Croatia60 56 33 4 Cyprus30 26 31 40 Czech Republic7 10 3 1 Denmark35 47 28 22 Estonia4 16 5 3 Finland9 12 10 24 France23 5 6 29 Germany48 41 34 45 Greece18 23 20 16 Hong Kong SAR41 35 39 44 Hungary29 33 13 8 Iceland28 36 62 63 India49 45 58 52 Indonesia14 22 17 25 Ireland11 7 25 14 Israel40 21 24 38 Italy20 6 8 32 Japan55 60 48 50 Jordan51 53 57 26 Kazakhstan22 3 32 30 Korea Rep.25 57 30 19 Latvia19 44 26 23 Lithuania37 27 19 18 Luxembourg15 28 41 35 Malaysia56 46 52 62 Mexico62 63 63 53 Mongolia3 15 16 12 Netherlands33 29 15 15 New Zealand10 17 4 10 Norway61 61 51 55 Peru44 59 56 58 Philippines39 31 43 31 Poland34 32 21 28 Portugal46 51 46 43 Qatar36 43 44 49 Romania32 25 54 37 Russia43 34 53 34 Saudi Arabia1 14 23 2 Singapore42 50 38 47 Slovak Republic31 30 27 17 Slovenia59 42 60 60 South Africa21 24 18 39 Spain5 9 2 7 Sweden8 4 1 9 Switzerland13 8 29 20 Taiwan, China38 38 55 56 Thailand54 37 45 54 Turkey24 39 35 41 UAE58 48 59 33 Ukraine12 11 14 27 United Kingdom6 1 7 21 USA63 62 61 57 Venezuela
Infrastructure
IMD WORLD COMPETITIVENESS YEARBOOK 2019 53
COMPETITIVENESS COUNTRY PROFILES
BASIC FACTS
Capital
Land area (square km '000) 9,9852018
Exchange Rate (per $) 1.2962018
Population - market size (millions) 36.952018
23
Gross Domestic Product (GDP) (US$ billions) 1,711.42018
10
GDP (PPP) per capita (US$) 49,7072018
19
Real GDP growth (%) 1.82018
49
Consumer price inflation (%) 2.242018
32
Unemployment rate (%) 5.602018
36
Labor force (millions) 19.812018
21
Current account balance (% of GDP) -2.672018
50
Direct investment stocks inward ($bn) 1,084.42017
6
Direct investment flows inward (% of GDP) 2.552018
26
PEER GROUPS RANKINGSTHE AMERICAS (9 countries) POPULATIONS > 20 MILLION (29 countries)
COMPETITIVENESS TRENDS - OVERALL
CANADAOVERALL PERFORMANCE (63 countries) Rank
Ottawa
CHALLENGES IN 2019Minimal capacity of educational systems to react to the rapidly-
changing needs of high-growth sectors like technology.
Information and Communications Technology Council (ICTC)
COMPETITIVENESS LANDSCAPE
510 12 10
13
2015 2016 2017 2018 2019
17
53
10
19
7
29
1913 14 16
19 17
9
21
1310
17 1912 11
Dom
estic
Eco
nom
y
Inte
rnat
iona
l Tra
de
Inte
rnat
iona
l Inv
estm
ent
Empl
oym
ent
Pric
es
Publ
ic F
inan
ce
Tax
Pol
icy
Inst
itutio
nal F
ram
ewor
k
Busi
ness
Leg
isla
tion
Soci
etal
Fra
mew
ork
Prod
uctiv
ity &
Effi
cien
cy
Labo
r M
arke
t
Fina
nce
Man
agem
ent
Prac
tices
Att
itude
s an
d V
alue
s
Basi
c In
fras
truc
ture
Tec
hnol
ogic
al In
fras
truc
ture
Scie
ntifi
c In
fras
truc
ture
Hea
lth a
nd E
nvir
onm
ent
Educ
atio
n
Economic Performance Government Efficiency Business Efficiency Infrastructure
2 2 2 2 2
2015 2016 2017 2018 2019
2 2 2 2 2
2015 2016 2017 2018 2019
• Minimal capacity of educational systems to react to the rapidly-changing needs of high-growth sectors like technology.
• Shortage of highly-skilled digital talent available to meet industry demand in high-growth sectors like technology.
• Shortage of favorable incentives to draw high-quality foreign direct investment and increase competition.
• Minimal capacity for startups to become scaleups and reach new markets.
• Insufficient levels of digitization among small businesses.
Provided by:Information and Communications Technology Council (ICTC)
IMD WORLD COMPETITIVENESS YEARBOOK 201978
IMPROVEMENTSWCY 2018
WCY 2019 DECLINES
WCY 2018
1.1.18 Gross fixed capital formation - real growth -3.16 0.80 1.1.15 Real GDP growth per capita 1.98
2.1.02 Government budget surplus/deficit (%) -0.97 -0.43 1.5.01 Consumer price inflation 1.61
2.3.08 Exchange rate stability 0.005 0.004 1.1.14 Real GDP growth 3.0
2.3.12 Bureaucracy 4.64 5.27 4.5.01 Total public expenditure on education 5.4
2.2.07 Effective personal income tax rate 16.53 14.44 2.3.13 Bribery and corruption 7.92
1.4.07 Unemployment rate 6.34 5.60 3.4.10 Social responsibility 7.62
1.2.02 Current account balance -2.98 -2.67 3.4.04 Credibility of managers 7.46
1.1.19 Resilience of the economy 6.11 6.57 3.5.03 National culture 8.85
4.5.06 Pupil-teacher ratio (secondary education) 12.97 12.00 3.5.02 Image abroad or branding 8.87
1.2.12 Exports of commercial services ($bn) 79.75 85.67 3.2.22 Foreign highly-skilled personnel 8.11
1.2.08 Exports of goods ($bn) 420.86 449.84 1.5.06 Gasoline prices 0.98
2.4.08 Subsidies 5.28 5.64 3.3.16 Credit 7.85
2.1.09 Public finances 5.02 5.35 2.1.11 Pension funding 6.60
4.1.07 Population - growth 1.00 1.07 3.2.23 International experience 5.77
4.2.18 Cyber security 6.23 6.60 2.5.04 Risk of political instability 8.98
COMPETITIVENESS EVOLUTION & ATTRACTIVENESS INDICATORS
CANADACOMPETITIVENESS EVOLUTION
0.76
6.49
6.47
6.42
7.64
7.71
7.14
5.13
The criteria below highlight the 15 biggest Improvements and the 15 biggest Declines in the overall performance of the economy. They are
determined by the largest percentage changes in the value of each criterion from one yearbook to the next.
WCY 2019
8.00
KEY ATTRACTIVENESS INDICATORS
From a list of 15 indicators, respondents of the Executive Opinion Survey were asked to select 5 that they perceived as the key
attractiveness factors of their economy. The chart shows the percentage of responses per indicator from the highest number of responses
to the lowest.
2.24
1.8
4.4
1.10
6.94
5.87
6.5%10.4%11.7%14.3%23.4%26.0%29.9%31.2%32.5%32.5%49.4%50.6%51.9%51.9%64.9%
0% 10% 20% 30% 40% 50% 60% 70%
Competitive tax regimeEffective labor relations
Competency of governmentStrong R&D culture
Dynamism of the economyCost competitiveness
Quality of corporate governanceAccess to financing
Effective legal environmentBusiness-friendly environmentPolicy stability & predictability
Reliable infrastructureOpen and positive attitudes
High educational levelSkilled workforce
IMD WORLD COMPETITIVENESS YEARBOOK 2019 79
Sub-Factor Rankings : 2018
Domestic Economy 18 International Trade 53 International Investment 9 Employment 22 Prices 12
Sub-Factor Rankings : 2018
Public Finance 30 Tax Policy 18 Institutional Framework 13 Business Legislation 8 Societal Framework 10
Sub-Factor Rankings : 2018
Productivity & Efficiency 16 Labor Market 7 Finance 9 Management Practices 6 Attitudes and Values 5
Sub-Factor Rankings : 2018
Basic Infrastructure 5 Technological Infrastructure 15 Scientific Infrastructure 15 Health and Environment 11 Education 4
COMPETITIVENESS TRENDS - FACTOR BREAKDOWN
CANADA
ECONOMIC PERFORMANCE
2019
17 53
10 17
7
2019
29 19 13 14 16
2019
19
19
19 17 9
21 13
BUSINESS EFFICIENCY
GOVERNMENT EFFICIENCY
10
12 11
INFRASTRUCTURE
2019
10 14 16 13 12
2015 2016 2017 2018 2019
8 10 13 914
2015 2016 2017 2018 2019
312 11 7
16
2015 2016 2017 2018 2019
6 9 10 712
2015 2016 2017 2018 2019
IMD WORLD COMPETITIVENESS YEARBOOK 201980
Rank5
6
7
8
9
11
13
13
15
15
Rank1
1
2
2
3
9
9
11
11
12
Rank4
6
8
11
12
13
13
13
13
13
Rank2
2
4
5
8
8
9
10
11
12
1.2.08 Exports of goods ($bn) 1.2.13 Exports of commercial services (%) 46
1.3.01 Direct investment flows abroad ($bn) 1.1.18 Gross fixed capital formation - real growth 49
1.3.05 Direct investment flows inward ($bn) 1.2.25 Tourism receipts 48
1.5.05 Food costs 1.2.17 Export concentration by partner 61
1.3.03 Direct investment stocks abroad ($bn) 1.2.02 Current account balance 50
4.4.11 Human development index
CANADASTRENGTHS WEAKNESSES
Infrastructure Infrastructure Rank
3.2.12 Labor force (%)
2.2.11 Employer's social security contribution rate
Business Efficiency Business Efficiency Rank
1.3.02 Direct investment flows abroad (% of GDP) 1.5.04 Office rent 39
Government Efficiency Government Efficiency Rank
BALANCE SHEET - FACTOR BREAKDOWN
1.3.07 Direct investment stocks inward ($bn) 1.1.15 Real GDP growth per capita 52
1.3.04 Direct investment stocks abroad (% of GDP) 1.1.14 Real GDP growth 49
4.3.22 Knowledge transfer
4.2.06 Computers per capita 4.1.10 Dependency ratio 27
4.4.23 Environment-related technologies 4.3.05 Business expenditure on R&D (%) 25
4.4.01 Total health expenditure 4.4.12 Energy intensity 39
4.2.12 Public-private partnerships 4.5.01 Total public expenditure on education 35
4.4.17 Exposure to particle pollution 4.5.03 Gov. expenditure on education per student 40
4.5.08 Higher education achievement 4.3.19 Medium- and high-tech value added 39
4.5.09 Women with degrees 4.2.03 Mobile Telephone costs 63
4.5.07 Secondary school enrollment 4.5.05 Pupil-teacher ratio (primary education) 43
3.3.07 Regulatory compliance (banking laws)
3.4.07 Use of big data and analytics
3.2.22 Foreign highly-skilled personnel 3.1.08 Large corporations 33
3.2.24 Competent senior managers
3.5.03 National culture 3.2.01 Compensation levels 42
3.5.01 Attitudes toward globalization 3.2.23 International experience 40
3.3.10 Stock market capitalization (%) 3.2.06 Working hours 45
3.3.19 Corporate debt 3.2.04 Remuneration of management 44
2.4.10 Competition legislation
2.4.01 Tariff barriers
2.4.18 Immigration laws
2.2.09 Consumption tax rate 2.3.07 Foreign currency reserves per capita 31
2.3.14 Rule of law 2.4.19 Redundancy costs 26
2.4.14 Start-up days 2.4.04 Foreign investors 38
2.4.15 Start-up procedures 2.2.01 Collected total tax revenues 37
2.3.04 Country credit rating 2.1.04 Total general government debt (%) 51
2.3.08 Exchange rate stability 2.2.08 Corporate tax rate on profit 46
1.4.08 Long-term unemployment 1.2.23 Trade to GDP ratio 41
1.4.02 Employment (%) 1.2.09 Exports of goods (%) 39
3.2.18 Skilled labor 3.2.03 Remuneration in services professions 49
Economic Performance Economic Performance Rank
IMD WORLD COMPETITIVENESS YEARBOOK 2019 81
STATISTICAL TABLES FACTOR I:
ECONOMIC PERFORMANCE
IMD WORLD COMPETITIVENESS YEARBOOK 2019 311
IMD WORLD COMPETITIVENESS YEARBOOK 2019312
Table of Contents
1.1 Domest ic Economy1.1.00 [ B] Exchange Rate National currency per US$ ( average) 315
Size1.1.01 G ross Domestic Product ( G DP) US$ b illions 3161.1.02 G DP ( PPP) Estimates: US$ b illions at purchasing power parity 3161.1.03 [ B] World G DP contrib ution ( % ) Percentage share of world G DP in market prices 3171.1.04 [ B] Household consumption expenditure ( $ b n) US$ b illions 3171.1.05 [ B] Household consumption expenditure ( % ) Percentage of G DP 3181.1.06 [ B] G overnment consumption expenditure ( $ b n) US$ b illions 3181.1.07 [ B] G overnment consumption expenditure ( % ) Percentage of G DP 319
. . ross fi ed capital formation bn billions 3
. . ross fi ed capital formation ercentage of D 31.1.10 [ B] G ross domestic savings ( $ b n) US$ b illions 3201.1.11 [ B] G ross domestic savings ( % ) Percentage of G DP 3211.1.12 [ B] Economic sectors Breakdown of the economic sectors, percentage of G DP 3211.1.13 [ B] Economic complexity index Measures knowledge intensity, b y considering exports 322
Growth1.1.14 Real G DP growth Percentage change, b ased on national currency in constant prices 3221.1.15 Real G DP growth per capita Percentage change, b ased on national currency in constant prices 3231.1.16 [ B] Household consumption exp. - real growth Percentage change, b ased on constant prices. 3231.1.17 [ B] G overnment consumption exp. - real growth Percentage change, b ased on constant prices. 324. . ross fi ed capital formation - real growth ercentage change, based on constant prices. 3
1.1.19 [ S] Resilience of the economy Resilience of the economy to economic cycles is strong 325
Wealth1.1.20 G DP per capita US$ per capita 3251.1.21 G DP ( PPP) per capita Estimates; US$ per capita at purchasing power parity 326
Forecasts1.1.22 [ B] Forecast: Real G DP growth Percentage change, b ased on national currency in constant prices 326. . 3 orecast In ation ercentage change 3
1.1.24 [ B] Forecast: Unemployment Percentage of total lab or force 3271.1.25 [ B] Forecast: Current account b alance Percentage of G DP/G NP 328
1 .2 In ternat iona l Trade. . urrent account balance bn billions minus sign deficit 3
1.2.02 Current account b alance ( % ) Percentage of G DP 329. . 3 alance of trade bn billions minus sign deficit 3
1.2.04 [ B] Balance of trade ( % ) Percentage of G DP 330. . alance of commercial services bn billions minus sign deficit 33
1.2.06 [ B] Balance of commercial services ( % ) Percentage of G DP 3311.2.07 [ B] World exports contrib ution ( % ) Percentage share of world exports ( goods and commercial services) 3311.2.08 Exports of goods ( $ b n) US$ b illions 3321.2.09 Exports of goods ( % ) Percentage of G DP 3321.2.10 [ B] Exports of goods per capita US$ per capita 3331.2.11 Exports of goods - growth Percentage change, b ased on US$ values 3331.2.12 Exports of commercial services ( $ b n) US$ b illions 3341.2.13 Exports of commercial services ( % ) Percentage of G DP 3341.2.14 Exports of commercial services - growth Percentage change, b ased on US$ values 3351.2.15 [ B] Exports of goods & commercial serv. US$ b illions 3351.2.16 [ B] Exports b reakdown b y economic sector Percentage of total exports 3361.2.17 Export Concentration b y Partner Exports to top 5 countries, percentage of total exports 3361.2.18 Export concentration b y product Top 5 products, percentage of total exports 337
IMD WORLD COMPETITIVENESS YEARBOOK 2019 313
1.2.19 [ B] Imports of goods & commercial serv. ( $ b n) US$ b illions 3371.2.20 [ B] Imports of goods & commercial serv. ( % ) Percentage of G DP 3381.2.21 [ B] Imports of goods & commercial serv. growth US$ values 3381.2.22 [ B] Imports b reakdown b y economic sector Percentage of total imports 3391.2.23 Trade to G DP ratio ( Exports + Imports) / ( 2* G DP) 3391.2.24 Terms of trade index Unit value of exports over unit value of imports 3401.2.25 Tourism receipts ( % ) International tourism receipts as a percentage of G DP 340
1 .3 In ternat iona l Investment
Investment.3. Direct investment ows abroad bn billions 3.3. Direct investment ows abroad ercentage of D 3
1.3.03 Direct investment stocks ab road ( $ b n) US$ b illions 3421.3.04 Direct investment stocks ab road ( % ) Percentage of G DP 342
.3. Direct investment ows inward bn billions 3 3
.3. 6 Direct investment ows inward ercentage of D 3 31.3.07 Direct investment stocks inward ( $ b n) US$ b illions 3441.3.08 Direct investment stocks inward ( % ) Percentage of G DP 344
.3. alance of direct investment ows bn billions ows abroad minus ows inward 3
.3. alance of direct investment ows ercentage of D ows abroad minus ows inward 31.3.11 [ B] Net position in direct investment stocks ( $ b n) US$ b illions ( stocks ab road minus stocks inward) 3461.3.12 [ B] Net position in direct investment stocks ( % ) Percentage of G DP ( stocks ab road minus stocks inward) 3461.3.13 [ S] Relocation threats of b usiness Relocation of b usiness is not a threat to the future of your economy 347
Finance1.3.14 Portfolio investment assets ( $ b n) US$ b illions 3471.3.15 Portfolio investment liab ilities ( $ b n) US$ b illions 348
1 .4 Employment1.4.01 Employment Total employment in millions 3481.4.02 Employment ( % ) Percentage of population 3491.4.03 Employment - growth Estimates: percentage change 3491.4.04 [ B] Employment - long-term growth Estimates: % of population, percentage change in 4 years 3501.4.05 [ B] Employment b y sector Percentage of total employment 3501.4.06 [ B] Employment in the pub lic sector ( % ) Percentage of total employment 3511.4.07 Unemployment rate Percentage of lab or force 3511.4.08 Long-term unemployment Percentage of lab or force 3521.4.09 Youth unemployment Percentage of youth lab or force ( under the age of 25) 3521.4.10 [ B] Youth exclusion Share of youth population ( 15-24) not in education, employment or training 353
1 .5 Pr ices. . onsumer price in ation Average annual rate 3 3
1.5.02 Cost-of-living index Index of a b asket of goods & services in the main city, including housing ( New York City = 100) 354. . 3 Apartment rent 3-room apartment monthly rent in major cities, 3. . ffice rent Total occupation cost in the main city q.M. per year 3. . ood costs ercentage of household final consumption e penditures 3
1.5.06 G asoline prices Premium unleaded gasoline ( 95 Ron) US$ per litre 356
[ S] = Survey data | [ B] = Background data
(2018 rankings are in parentheses)
ECONOMIC PERFORMANCEMacro-economic evaluation of the domestic economy
(1) USA 1( )(2) China 2( )
(5) Qatar 3( )(4) Luxembourg 4( ) g(7) Singapore 5( ) gapp
(11) Ireland 6( )(3) UAE 7( )
(10) Thailand 8( ))(12) Germany 9( )) y
(9) Hong Kong SAR 10( ) g g(8) Malaysia 11( ) y
(13) Canada 12( )(6) Netherlands 13( )
(19) Australia 14(( )(14) Taiwan, China 15(( )(15) Japan 16( ) J p(16) Czech Republic 17( ) p(18) Poland 18( )(22) Cyprus 19( ) yp
(17) Austria 20( )(24) Sweden 21( )(45) United Kingdom 22( )) g
(25) Switzerland 23( )(21) India 24( )(27) Indonesia 25( )(26) Denmark 26( )
(20) Korea Rep. 27( ) p(35) Mexico 28( )(31) Spain 29( ) Sp(23) Saudi Arabia 30( )(38) Russia 31( )(40) Norway 32( ) y(29) Slovenia 33( )(30) France 34( )
(43) Finland 35( )(33) New Zealand 36( )(44) Belgium 37( ) g(50) Philippines 38( ) pp(36) Lithuania 39( )
(37) Israel 40( )(55) Peru 41(( )
(46) Slovak Republic 42( ) p(42) Portugal 43( ) ga(32) Estonia 44( )(49) Kazakhstan 45( )(39) Hungary 46( ) ga y(28) Bulgaria 47( ) ga(41) Chile 48( )(34) Romania 49( ))(51) Colombia 50( ))
(52) Turkey 51( ) y(53) Latvia 52( )
(47) Italy 53( ) y(57) Iceland 54( )
(56) Croatia 55( )(58) Ukraine 56( )(54) Brazil 57( )
(48) Mongolia 58( ) g(59) South Africa 59( )
(61) Greece 60( )(60) Argentina 61
(62) Jordan 62(63) Venezuela 63
95.543 91.705 89.538 83.131 83.067 81.005 78.251 76.653 76.382 75.107 74.205 71.430 70.327 68.980 68.640 68.426 68.345 68.040 67.997 67.528 67.171 66.873 66.125 64.863 64.423 64.398 63.429 63.147 62.935 62.703 62.320 62.276 62.267 62.243 61.647 60.781 60.344 60.143 60.006 59.556 58.945 58.324 57.769 57.673 57.501 57.384 57.190 56.923 56.673 56.525 55.968 55.848 54.646 53.093 51.749 51.505 51.381 49.651 44.477 42.574 40.849 27.771
0 10 20 30 40 50 60 70 80 90 100
Economic Performance
Macro-economic evaluation of the domestic economy
( 2018 rankings are in parentheses)
IMD WORLD COMPETITIVENESS YEARBOOK 2019314
STATISTICAL TABLES FACTOR II:
GOVERNMENT EFFICIENCY
IMD WORLD COMPETITIVENESS YEARBOOK 2019 359
IMD WORLD COMPETITIVENESS YEARBOOK 2019360
Table of Contents
2.1 Publ i c F inance. . overnment budget surplus deficit bn billions 363. . overnment budget surplus deficit ercentage of D 363. . 3 Total general government debt bn billions 36. . Total general government debt ercentage of D 36. . Total general government debt-real growth ercentage change, based on national currency in constant prices 36. . 6 entral government domestic debt ercentage of D 36. . entral government foreign debt ercentage of D 366. . Interest payment ercentage of current revenue 366. . ublic finances ublic finances are being efficiently managed 36. . Ta evasion Ta evasion is not a threat to your economy 36. . ension funding ension funding is adequately addressed for the future 36. . eneral government e penditure ercentage of D 36
2 .2 Tax Po l i cy. . ollected total ta revenues ercentage of D 36. . ollected personal income ta n profits, income and capital gains, as a percentage of D 36. . 3 ollected corporate ta es n profits, income and capital gains, as a percentage of D 3. . ollected indirect ta revenues Ta es on goods and services as a percentage of D 3. . ollected capital and property ta es ercentage of D 3. . 6 ollected social security contribution ompulsory contribution of employees and employers as a percentage of D 3. . ffective personal income ta rate ercentage of an income equal to D per capita 3. . orporate ta rate on profit Ma imum ta rate, calculated on profit before ta 3. . onsumption ta rate tandard rate of AT T 3 3. . mployee’s social security contribution rate ompulsory contribution as a percentage of an income equal to D per capita 3 3. . mployer’s social security contribution rate ompulsory contribution as a percentage of an income equal to D per capita 3. . eal personal ta es eal personal ta es do not discourage people from working or seeking advancement 3
2 .3 Inst i tu t iona l Fram ework
Central Bank.3. eal short-term interest rate eal discount bank rate 3.3. ost of capital ost of capital encourages business development 3.3. 3 Interest rate spread Lending rate minus deposit rate 3 6.3. ountry credit rating Inde -6 of three country credit ratings itch, Moody’s and 3 6.3. entral bank policy entral bank policy has a positive impact on economic development 3.3. 6 oreign currency reserves bn billions 3.3. oreign currency reserves per capita per capita 3.3. change rate stability arity change from national currency to D , 3
t te fi ien y.3. Legal and regulatory framework The legal and regulatory framework encourages the competitiveness of enterprises 3.3. Adaptability of government policy Adaptability of government policy to changes in the economy is high 3.3. Transparency Transparency of government policy is satisfactory 3.3. ureaucracy ureaucracy does not hinder business activity 3.3. 3 ribery and corruption ribing and corruption do not e ist 3.3. ule of law Inde 3
2 .4 Bus iness Leg is la t ion
Openness. . Tariff barriers Tariffs on imports Most favored nation simple average rate 3. . rotectionism rotectionism does not impair the conduct of your business 3. . 3 ublic sector contracts ublic sector contracts are sufficiently open to foreign bidders 3 3. . oreign investors oreign investors are free to acquire control in domestic companies 3 3. . apital markets apital markets foreign and domestic are easily accessible 3. . 6 Investment incentives Investment incentives are attractive to foreign investors 3
IMD WORLD COMPETITIVENESS YEARBOOK 2019 361
Competition n e ul tions. . overnment subsidies To private and public companies as a percentage of D 3. . ubsidies ubsidies do not distort fair competition and economic development 3. . tate ownership of enterprises tate ownership of enterprises is not a threat to business activities 3 6. . ompetition legislation ompetition legislation is efficient in preventing unfair competition 3 6. . arallel economy arallel black-market, unrecorded economy does not impair economic development 3. . ew business density egistered new businesses per ’ people aged -6 3. . 3 reation of firms reation of firms is supported by legislation 3. . tart-up days umber of days to start a business 3. . tart-up procedures umber of procedures to start a business 3
or e ul tions. . 6 Labor regulations Labor regulations hiring firing practices, minimum wages, etc. do not hinder business activities 3. . nemployment legislation nemployment legislation provides an incentive to look for work 3. . Immigration laws Immigration laws do not prevent your company from employing foreign labor 3. . edundancy costs umber of weeks of salary 3
2 .5 Soc ie ta l Framework. . ustice ustice is fairly administered 3. . Homicide Intentional homicide, rate per ’ population 3. . 3 Ageing of population opulation over 6 , percentage of total population 3. . isk of political instability The risk of political instability is very low 3 3. . ocial cohesion ocial cohesion is high 3 3. . 6 ini coefficient qual distribution of income scale absolute equality to absolute inequality 3. . Income distribution - lowest ercentage of household incomes going to lowest of households 3. . Income distribution - highest ercentage of household incomes going to highest of households 3. . Income share held by lowest 6 - growth ercentage change of household incomes going to lowest 6 of households 3. . qual opportunity qual opportunity legislation in your economy encourages economic development 3 6. . emales in parliament ercentage of total seats in arliament 3 6. . nemployment rate - gender ratio Difference between the female and male unemployement rates 3. . 3 ender inequality ender Inequality Inde D 3. . Disposable Income emale male ratio 3
urvey data ackground data
(2018 rankings are in parentheses)
GOVERNMENT EFFICIENCYExtent to which government policies are conducive to competitiveness
(1) Hong Kong SAR 1gg(4) UAE 2( )
(3) Singapore 3(( ) gap(2) Switzerland 4))
(10) Qatar 5( )(6) Denmark 6( )(5) Norway 7( ) y 7
(7) New Zealand 8( )(8) Netherlands 9( )(17) Luxembourg 10( )
(13) Ireland 11( )(12) Taiwan, China 12( )
(14) Australia 13(( )(9) Canada 14( )(16) Iceland 15( )
(11) Sweden 16( )(15) Finland 17( )
(30) Saudi Arabia 18( )(18) United Kingdom 19( ) g
(22) Thailand 20( )(25) Kazakhstan 21(( )(19) Germany 22(( )(26) USA 23(( )
(23) Malaysia 24( ) y(36) Indonesia 25( )(24) Chile 26( ))(21) Estonia 27( ))
(32) Austria 28( )(31) Lithuania 29( )(20) Israel 30( )
(29) Korea Rep. 31( ) p(28) Cyprus 32( ) yp
(33) Latvia 33( )(27) Czech Republic 34( )
(46) China 35( )(35) Belgium 36( ) g
(34) Portugal 37( ) ga(41) Japan 38( ) J p
(42) Slovenia 39( )(38) Spain 40( ) SpSp(44) Philippines 41( ) pp
(37) Bulgaria 42( ) ga(43) Jordan 43( ) J(40) Poland 44( )
(48) Hungary 45( ) gaga y(50) India 46( )(52) Russia 47( )
(39) France 48( )(47) Peru 49( )
(49) South Africa 50( )(51) Romania 51(( )(54) Mexico 52( )
(53) Italy 53( ) y(59) Ukraine 54( )
(45) Turkey 55( ) y(58) Colombia 56( )(55) Slovak Republic 57( )
(56) Croatia 58( )(57) Mongolia 59( )
(61) Greece 60( )(60) Argentina 61( ) g
(62) Brazil 62(63) Venezuela 63
97.390 95.585 93.835 93.194 91.918 85.161 85.030 82.512 81.905 81.619 80.793 79.974 78.484 78.264 78.009 77.378 75.400 72.913 70.374 69.837 68.944 68.926 68.523 67.808 67.259 66.881 66.871 65.499 63.687 63.364 62.072 61.362 59.785 59.637 57.833 57.637 57.013 56.937 56.175 55.904 55.713 55.246 54.084 54.053 53.074 52.543 52.429 51.222 50.920 50.437 48.536 48.101 44.096 43.688 42.705 42.704 42.611 40.877 39.596 34.441 28.112 25.067
2.889
0 10 20 30 40 50 60 70 80 90 100
e n en Efficiency
tent to which government policies are conductive to competitiveness
rankings are in parentheses
IMD WORLD COMPETITIVENESS YEARBOOK 2019362
STATISTICAL TABLES FACTOR III:
BUSINESS EFFICIENCY
IMD WORLD COMPETITIVENESS YEARBOOK 2019 401
IMD WORLD COMPETITIVENESS YEARBOOK 2019402
Table of Contents
3.1 Product i v i t y and E f f i c iency3. . verall productivity stimates D per person employed, 3. . verall productivity - real growth stimates ercentage change of real D per person employed 3. . 3 Labor productivity stimates D per person employed per hour, 63. . Agricultural productivity stimates elated D per person employed in agriculture, 63. . roductivity in industry stimates elated D per person employed in industry, 3. . 6 roductivity in services stimates elated D per person employed in services, 3. . Workforce productivity Workforce productivity is competitive by international standards 3. . Large corporations Large corporations are efficient by international standards 3. . mall and medium-size enterprises mall and medium-size enterprises are efficient by international standards 3. . se of digital tools and technologies ompanies are very good at using digital tools and technology to improve their performance
3 .2 Labor Market
Costs3. . ompensation levels Total hourly compensation in manufacturing wages supplementary benefits , 3. . nit labor costs for total economy ercentage change 3. . 3 emuneration in services professions ross annual income including supplements such as bonuses, 3. . emuneration of management Total base salary plus bonuses and long-term incentives, 3. . emuneration spread atio of to personal assistant remuneration 3
Relations3. . 6 Working hours Average number of working hours per year 33. . Worker motivation Worker motivation in companies is high 3. . Industrial disputes Working days lost per , inhabitants per year average - 3. . Apprenticeships Apprenticeships are sufficiently implemented 3. . mployee training mployee training is a high priority in companies
Availability of Skills3. . Labor force mployed and registered unemployed millions 63. . Labor force ercentage of population 63. . 3 Labor force growth ercentage change 3. . Labor force long-term growth stimates of population, percentage change in years 3. . art-time employment ercentage of total employment 3. . 6 emale labor force ercentage of total labor force 3. . oreign labor force ercentage of total labor force 3. . killed labor killed labor is readily available 3. . inance skills inance skills are readily available 3. . Attracting and retaining talents Attracting and retaining talents is a priority in companies 3. . rain drain rain drain well-educated and skilled people does not hinder competitiveness in your economy 3. . oreign highly-skilled personnel oreign highly-skilled personnel are attracted to your country’s business environment 3. . 3 International e perience International e perience of senior managers is generally significant 3. . ompetent senior managers ompetent senior managers are readily available
3 .3 F inance
n fi ien y3.3. anking sector assets ercentage of D 33.3. inancial cards in circulation umber of cards per capita 33.3. 3 inancial card transactions per capita 3.3. Access to financial services roportion of adults with a bank account or mobile-money-service provider 3.3. Access to financial services - gender ratio Difference between the female and male access to a bank account or mobile-money-service provider 3.3. 6 anking and financial services anking and financial services do support business activities efficiently 3.3. egulatory compliance banking laws egulatory compliance is sufficiently developed 6
IMD WORLD COMPETITIVENESS YEARBOOK 2019 403
to r et fi ien y3.3. tock markets tock markets provide adequate financing to companies 63.3. tock market capitalization bn billions 3.3. tock market capitalization ercentage of D 3.3. alue traded on stock markets per capita 3.3. Listed domestic companies umber of listed domestic companies 3.3. 3 tock market inde ercentage change on inde in national currency 3.3. hareholders’ rights hareholders’ rights are sufficiently implemented 3.3. Initial public offerings y acquiror nation average - millions 3
in n e n ement3.3. 6 redit redit is easily available for business 33.3. enture capital enture capital is easily available for business 33.3. M A activity Deals per listed company average 3- 33.3. orporate debt orporate debt does not restrain the ability of enterprises to compete 3
3 .4 Management Prac t i ces3. . Agility of companies ompanies are agile 33. . hanging market conditions ompanies are generally e tremely aware of changing market conditions 333. . 3 pportunities and threats ompanies are very good at responding quickly to opportunities and threats 333. . redibility of managers redibility of managers in society is strong 33. . orporate boards orporate boards do supervise the management of companies effectively 33. . 6 Auditing and accounting practices Auditing and accounting practices are adequately implemented in business 33. . se of big data and analytics ompanies are very good at using big data and analytics to support decision-making 33. . ustomer satisfaction ustomer satisfaction is emphasized in companies 363. . ntrepreneurship ntrepreneurship of managers is widespread in business 363. . ocial responsibility ocial responsibility of business leaders is high 33. . Women in management emale share of senior and middle management of management 33. . Women on boards oardmembers of all companies analyzed by M I 3
3 .5 A t t i tudes and Va lues3. . Attitudes toward globalization Attitudes toward globalization are generally positive in your society 33. . Image abroad or branding The image abroad of your country encourages business development 33. . 3 ational culture The national culture is open to foreign ideas 33. . le ibility and adaptability le ibility and adaptability of people are high when faced with new challenges 3. . eed for economic and social reforms The need for economic and social reforms is generally well understood 3. . 6 Digital transformation in companies Digital transformation in companies is generally well understood 3. . alue system The value system in your society supports competitiveness
urvey data ackground data
(2018 rankings are in parentheses)
Extent to which enterprises are performing in an innovative, profitable and responsible manner
BUSINESS EFFICIENCY
(2) UAE 1(2) UAE 1(2) UAE 1(2) UAE 1(1) Hong Kong SAR 2(1) Hong Kong SAR 2(1) Hong Kong SAR 2(1) Hong Kong SAR 2
(10) Ireland 3(10) Ireland 3(10) Ireland 3(10) Ireland 3(6) Netherlands 4(6) Netherlands 4(6) Netherlands 4(6) Netherlands 4
(11) Singapore 5(11) Singapore 5(4) Sweden 6(4) Sweden 6(4) Sweden 6
(3) Denmark 7(3) Denmark 7(3) Denmark 7(5) Norway 8(5) Norway 8(5) Norway 8
(9) Switzerland 9(9) Switzerland 9(9) Switzerland 9(13) Qatar 10(13) Qatar 10(13) Qatar 10
(12) USA 11(12) USA 11(12) USA 11(8) Luxembourg 12(8) Luxembourg 12(8) Luxembourg 12(16) Finland 13(16) Finland 13(16) Finland 13
(20) Taiwan, China 14(20) Taiwan, China 14(20) Taiwan, China 14(15) China 15(15) China 15(15) China 15
(7) Canada 16(7) Canada 16(14) Austria 17(14) Austria 17(14) Austria 17(17) Malaysia 18(17) Malaysia 18(17) Malaysia 18
(22) Iceland 19(22) Iceland 19(22) Iceland 19(35) Indonesia 20(35) Indonesia 20(35) Indonesia 20(18) Israel 21(18) Israel 21(18) Israel 21
(28) New Zealand 22(28) New Zealand 22(28) New Zealand 22(30) Lithuania 23(30) Lithuania 23(30) Lithuania 23(24) Australia 24(24) Australia 24(24) Australia 24(45) Saudi Arabia 25(45) Saudi Arabia 25(45) Saudi Arabia 25
(19) Germany 26(19) Germany 26(19) Germany 26(25) Thailand 27(25) Thailand 27(25) Thailand 27(23) Belgium 28(23) Belgium 28(23) Belgium 28(34) Kazakhstan 29(34) Kazakhstan 29(34) Kazakhstan 29
(29) India 30(29) India 30(29) India 30(21) United Kingdom 31(21) United Kingdom 31(21) United Kingdom 31
(38) Philippines 32(38) Philippines 32(27) Estonia 33(27) Estonia 33(27) Estonia 33(43) Korea Rep. 34(43) Korea Rep. 34(43) Korea Rep. 34
(39) Jordan 35(39) Jordan 35(39) Jordan 35(37) Poland 36(37) Poland 36(37) Poland 36
(32) Czech Republic 37(32) Czech Republic 37(32) Czech Republic 37(31) France 38(31) France 38(31) France 38
(42) Spain 39(42) Spain 39(42) Spain 39(47) Slovenia 40(47) Slovenia 40(47) Slovenia 40
(26) Chile 41(26) Chile 41(26) Chile 41(44) Italy 42(44) Italy 42(44) Italy 42(40) Latvia 43(40) Latvia 43(40) Latvia 43
(46) South Africa 44(46) South Africa 44(46) South Africa 44(33) Portugal 45(33) Portugal 45
(36) Japan 46(36) Japan 46(36) Japan 46(56) Colombia 47(56) Colombia 47(56) Colombia 47
(41) Turkey 48(41) Turkey 48(41) Turkey 48(48) Mexico 49(48) Mexico 49(48) Mexico 49(55) Ukraine 50(55) Ukraine 50(55) Ukraine 50
(52) Romania 51(52) Romania 51(52) Romania 51(53) Cyprus 52(53) Cyprus 52(53) Cyprus 52(54) Russia 53(54) Russia 53(54) Russia 53(57) Bulgaria 54(57) Bulgaria 54(57) Bulgaria 54
(51) Peru 55(51) Peru 55(51) Peru 55(58) Hungary 56(58) Hungary 56
(50) Brazil 57(50) Brazil 57(59) Greece 58(59) Greece 58(59) Greece 58(49) Argentina 59(49) Argentina 59(49) Argentina 59
(60) Slovak Republic 60(60) Slovak Republic 60(61) Mongolia 61(61) Mongolia 61(61) Mongolia 61
(63) Venezuela 62(63) Venezuela 62(63) Venezuela 62(62) Croatia 63
100.000 97.726 95.142 92.658 89.310 88.461 86.654 86.426 85.628 85.276 83.550 82.663 82.400 81.931 80.590 79.370 76.384 76.360 75.142 73.586 73.306 71.136 70.223 70.098 69.843 69.076 68.444 68.151 67.690 65.107 64.638 60.906 58.410 58.185 57.189 56.054 55.400 55.290 54.586 53.756 53.244 52.799 52.791 51.484 50.950 48.229 46.715 46.199 44.754 44.567 43.378 42.329 42.084 41.899 41.019 40.521 39.244 35.936 35.785 33.718 22.686 18.048 17.839
0 10 20 30 40 50 60 70 80 90 100
Business Efficiency
tent to which enterprises are performing in an innovative, profitable and responsible manner
rankings are in parentheses
IMD WORLD COMPETITIVENESS YEARBOOK 2019404
STATISTICAL TABLES FACTOR IV:
INFRASTRUCTURE
IMD WORLD COMPETITIVENESS YEARBOOK 2019 443
IMD WORLD COMPETITIVENESS YEARBOOK 2019444
Table of Contents
4.1 Bas ic In f rast ruc ture4.1.01 [ B] Land area Square kilometers ( ‘ 000) 4474.1.02 Arab le area Square meters per capita 4474.1.03 Water resources Total internal renewab le per capita in cub ic meters 4484.1.04 [ S] Access to water Access to water is adequately ensured and managed 4484.1.05 [ S] Management of cities Management of cities supports b usiness development 4494.1.06 [ B] Population - market size Estimates in millions 4494.1.07 Population - growth Percentage change 4504.1.08 [ B] Population under 15 years Percentage of total population 4504.1.09 [ B] Population over 65 years Percentage of total population 4514.1.10 Dependency ratio Population under 15 and over 64 years old, divided b y active population ( 15 to 64 years) 4514.1.11 Roads Density of the network, km roads/square km land area 4524.1.12 Railroads Density of the network, km per square km 4524.1.13 [ B] Air transportation Numb er of passengers carried b y main companies, thousands 4534.1.14 [ S] Q uality of air transportation Q uality of air transportation encourages b usiness development 453. . Distribution infrastructure The distribution infrastructure of goods and services is generally efficient . . 6 nergy infrastructure nergy infrastructure is adequate and efficient
4.1.17 [ B] Total indigenous energy production Millions MTOE 4554.1.18 Total indigenous energy production ( % ) Percentage of total requirements in tons of oil equivalent 455. . Total final energy consumption Millions MT 6. . Total final energy consumption per capita MT per capita 6
4.1.21 Electricity costs for industrial clients US$ per kwh 457
4 .2 Technolog ica l In f rast ruc ture4.2.01 Investment in telecommunications Percentage of G DP 4574.2.02 Mob ile b roadb and sub scrib ers 3G & 4G market, % of mob ile market 4584.2.03 Mob ile telephone costs Monthly b lended average revenue per user US$ 4584.2.04 [ S] Communications technology Communications technology ( voice and data) meets b usiness requirements 4594.2.05 Computers in use Worldwide share/ Source: Computer Industry Almanac 4594.2.06 Computers per capita Numb er of computers per 1000 people/ Source: Computer Industry Almanac 4604.2.07 Internet users Numb er of internet users per 1000 people/ Source: Computer Industry Almanac 4604.2.08 Broadb and sub scrib ers Numb er of sub scrib ers per 1000 inhab itants 4614.2.09 Internet b andwidth speed Average speed ( Mb ps) 4614.2.10 [ S] Digital/Technological skills Digital/technological skills are readily availab le 462. . ualified engineers ualified engineers are available in your labor market 6
4.2.12 [ S] Pub lic-private partnerships Pub lic and private sector ventures are supporting technological development 4634.2.13 [ S] Development and application of technology Development and application of technology are supported b y the legal environment 4634.2.14 [ S] Funding for technological development Funding for technological development is readily availab le 4644.2.15 High-tech exports ( $ ) US$ millions 4644.2.16 High-tech exports ( % ) Percentage of manufactured exports 4654.2.17 ICT Service Exports ( % ) Percentage of Service Exports 4654.2.18 [ S] Cyb er security Cyb er security is b eing adequately addressed b y corporations 466
4 .3 Sc ient i f i c In f rast ruc ture4.3.01 Total expenditure on R& D ( $ ) US$ millions 4664.3.02 Total expenditure on R& D ( % ) Percentage of G DP 4674.3.03 [ B] Total expenditure on R& D per capita ( $ ) US$ per capita 4674.3.04 Business expenditure on R& D ( $ ) US$ millions 4684.3.05 Business expenditure on R& D ( % ) Percentage of G DP 4684.3.06 Total R& D personnel Full-time work equivalent ( FTE thousands) 4694.3.07 Total R& D personnel per capita Full-time work equivalent ( FTE) per 1000 people 4694.3.08 [ B] Total R& D personnel in b usiness enterprise Full-time work equivalent ( FTE thousands) 47 04.3.09 [ B] Total R& D personnel in b usiness per capita Full-time work equivalent ( FTE) per 1000 people 47 04.3.10 Researchers in R& D per capita Full-time work equivalent ( FTE) per 1000 people 47 1.3. cience degrees ercentage of total first university degrees in science and engineering .3. cientific articles cientific articles published by origin of author
4.3.13 [ B] Nob el prizes Awarded in physics, chemistry, physiology or medicine and economics since 1950 47 24.3.14 Nob el prizes per capita Awarded in physics, chemistry, etc and economics since 1950 per million people 47 3
[ S] = Survey data | [ B] = Background data
IMD WORLD COMPETITIVENESS YEARBOOK 2019 445
.3. atent applications umber of applications filed by applicant’s origin 3
.3. 6 atent applications per capita umber of applications filed by applicant’s origin, per , inhabitants
.3. atents grants umber of patents granted by applicant’s origin average - 6
.3. umber of patents in force y applicant’s origin, per , inhabitants 4.3.19 Medium- and high-tech value added Proportion of total manufacturing value added, expressed as a percentage 47 5.3. cientific research legislation Laws relating to scientific research do encourage innovation 6
4.3.21 [ S] Intellectual property rights Intellectual property rights are adequately enforced 47 64.3.22 [ S] Knowledge transfer Knowledge transfer is highly developed b etween companies and universities 47 7
4 .4 Hea l th and Env i ronment4.4.01 Total health expenditure Percentage of G DP 47 74.4.02 [ B] Total health expenditure per capita US$ per capita 47 84.4.03 [ B] Pub lic expenditure on health ( % ) Percentage of total health expenditure 47 84.4.04 [ S] Health infrastructure Health infrastructure meets the needs of society 47 94.4.05 [ B] Universal health care covereage index Index ( 0-80) measuring coverage of essential health services 47 94.4.06 Life expectancy at b irth Average estimate 4804.4.07 [ B] Healthy life expectancy Average estimate 480. . Infant mortality nder five mortality rate per live births
4.4.09 Medical assistance Numb er of inhab itants per physician and per nurse 4814.4.10 [ B] Urb an population Percentage of total population 4824.4.11 Human development index Comb ines economic - social - educational indicators/ Source: HDR 4824.4.12 Energy intensity Total energy consumed for each 1000 US$ of G DP in MTOE 4834.4.13 [ B] Waste water treatment plants Percentage of population served 4834.4.14 Water consumption intensity Water withdrawal for each 1000 US$ of G DP in cub ic meters 4844.4.15 [ B] CO2 emissions Metric tons of carb on dioxide 4844.4.16 CO2 emissions intensity CO2 industrial emissions in metric tons per one million US$ of G DP 4854.4.17 Exposure to particle pollution Mean population exposure to PM2.5, Micrograms per cub ic metre 4854.4.18 Renewab le energies ( % ) Share of renewab les in total energy requirements, % 4864.4.19 [ B] Forest area Five year percentage change of hectares 4864.4.20 [ B] Total b iocapacity G lob al hectares per capita of b iologically productive space 4874.4.21 [ B] Ecological footprint G lob al hectares per person 487. . cological balance reserve deficit Total biocapacity minus total footprint in global hectare per capita
4.4.23 Environment-related technologies Development of environment-related technologies, % inventions worldwide 4884.4.24 [ B] Environmental agreements Multilateral agreements on hazardous waste, proportion fulfilled 4.4.25 [ S] Sustainab le development Sustainab le development is a priority in companies 489. . 6 ollution problems ollution problems do not seriously affect your economy
4.4.27 [ S] Environmental laws Environmental laws and compliance do not hinder the competitiveness of b usinesses 4904.4.28 [ S] Q uality of life Q uality of life is high 491
4 .5 Educat ion4.5.01 Total pub lic expenditure on education Percentage of G DP 4914.5.02 [ B] Total pub lic exp. on education per capita US$ per capita 4924.5.03 G overnment exp. on education per student Percentage of G DP per capita ( secondary education) 4924.5.04 [ B] Total pub lic expenditure on education per student Spending per enrolled pupil/student, all levels 493. . upil-teacher ratio primary education atio of students to teaching staff 3. . 6 upil-teacher ratio secondary education atio of students to teaching staff
4.5.07 Secondary school enrollment Percentage of relevant age group receiving full-time education 4944.5.08 Higher education achievement Percentage of population that has attained at least tertiary education for persons 25-34 4954.5.09 Women with degrees Share of women who have a degree in the population 25-65 4954.5.10 Student mob ility inb ound Foreign tertiary-level students per 1000 inhab itants 4964.5.11 [ B] Student mob ility outb ound National tertiary-level students studying ab road per 1000 inhab itants 4964.5.12 Educational assessment - PISA PISA survey of 15-year olds 497. . 3 nglish proficiency - T L T L scores
4.5.14 [ S] Primary and secondary education Primary and secondary education meets the needs of a competitive economy 4984.5.15 [ S] University education University education meets the needs of a competitive economy 4984.5.16 [ S] Management education Management education meets the needs of the b usiness community 4994.5.17 [ B] University education index Country score calculated from Times Higher Education univesity ranking 4994.5.18 Illiteracy Adult ( over 15 years) illiteracy rate as a percentage of population 5004.5.19 [ S] Language skills Language skills are meeting the needs of enterprises 500
(2018 rankings are in parentheses)
INFRASTRUCTUREExtent to which basic, technological, scientific and human resources meet the needs of business
(1) USA 1(1) USA 1(1) USA 1(2) Switzerland 2(2) Switzerland 2(2) Switzerland 2(2) Switzerland 2(3) Denmark 3(3) Denmark 3(3) Denmark 3(5) Sweden 4(5) Sweden 4
(6) Finland 5(6) Finland 5(6) Finland 5(8) Singapore 6(8) Singapore 6(8) Singapore 6
(4) Norway 7(4) Norway 7(4) Norway 7(9) Netherlands 8(9) Netherlands 8(9) Netherlands 8
(12) France 9(12) France 9(12) France 9(11) Germany 10(11) Germany 10(11) Germany 10(14) Austria 11(14) Austria 11(14) Austria 11(7) Canada 12(7) Canada 12(7) Canada 12
(17) Iceland 13(17) Iceland 13(17) Iceland 13(10) United Kingdom 14(10) United Kingdom 14(15) Japan 15(15) Japan 15(19) China 16(19) China 16(19) China 16
(16) Australia 17(16) Australia 17(16) Australia 17(13) Israel 18(13) Israel 18(13) Israel 18
(22) Taiwan, China 19(22) Taiwan, China 19(22) Taiwan, China 19(18) Korea Rep. 20(18) Korea Rep. 20(18) Korea Rep. 20(20) Belgium 21(20) Belgium 21(20) Belgium 21(23) Hong Kong SAR 22(23) Hong Kong SAR 22(23) Hong Kong SAR 22
(21) Ireland 23(21) Ireland 23(21) Ireland 23(25) New Zealand 24(25) New Zealand 24(25) New Zealand 24
(24) Luxembourg 25(24) Luxembourg 25(27) Spain 26(27) Spain 26(27) Spain 26
(28) Slovenia 27(28) Slovenia 27(28) Slovenia 27(33) Malaysia 28(33) Malaysia 28(33) Malaysia 28(26) Portugal 29(26) Portugal 29(26) Portugal 29(29) Lithuania 30(29) Lithuania 30(29) Lithuania 30
(30) Czech Republic 31(30) Czech Republic 31(30) Czech Republic 31(31) Italy 32(31) Italy 32(31) Italy 32(36) UAE 33(36) UAE 33(36) UAE 33
(32) Estonia 34(32) Estonia 34(32) Estonia 34(37) Latvia 35(37) Latvia 35(37) Latvia 35(34) Poland 36(34) Poland 36
(35) Russia 37(35) Russia 37(35) Russia 37(44) Saudi Arabia 38(44) Saudi Arabia 38(44) Saudi Arabia 38(39) Hungary 39(39) Hungary 39(39) Hungary 39
(38) Qatar 40(38) Qatar 40(38) Qatar 40(40) Greece 41(40) Greece 41(40) Greece 41(41) Cyprus 42(41) Cyprus 42(41) Cyprus 42
(42) Kazakhstan 43(42) Kazakhstan 43(42) Kazakhstan 43(45) Slovak Republic 44(45) Slovak Republic 44(45) Slovak Republic 44
(48) Thailand 45(48) Thailand 45(48) Thailand 45(50) Turkey 46(50) Turkey 46(50) Turkey 46(43) Chile 47(43) Chile 47(43) Chile 47(49) Romania 48(49) Romania 48(49) Romania 48
(46) Croatia 49(46) Croatia 49(46) Croatia 49(51) Bulgaria 50(51) Bulgaria 50(51) Bulgaria 50
(47) Argentina 51(47) Argentina 51(47) Argentina 51(53) Ukraine 52(53) Ukraine 52(53) Ukraine 52(59) Indonesia 53(59) Indonesia 53(59) Indonesia 53
(52) Brazil 54(52) Brazil 54(56) India 55(56) India 55
(58) Colombia 56(58) Colombia 56(58) Colombia 56(55) Mexico 57(55) Mexico 57(55) Mexico 57
(54) Jordan 58(54) Jordan 58(54) Jordan 58(60) Philippines 59(60) Philippines 59(60) Philippines 59(57) South Africa 60(57) South Africa 60(57) South Africa 60
(61) Peru 61(61) Peru 61(62) Mongolia 62(62) Mongolia 62
(63) Venezuela 63
94.593 92.806 91.221 91.060 88.387 87.519 86.770 86.305 82.346 82.303 81.951 81.555 80.019 79.202 79.134 78.702 78.195 78.115 76.143 76.061 75.895 75.453 73.665 71.711 71.182 68.656 66.918 65.533 65.104 64.751 64.251 63.551 63.461 61.490 60.550 60.262 57.704 57.102 56.902 54.790 53.331 52.965 50.899 49.208 47.731 47.551 47.444 47.124 46.430 46.015 45.155 43.184 42.851 41.847 39.936 38.128 36.937 36.486 35.876 35.742 31.670 22.541 13.248
0 10 20 30 40 50 60 70 80 90 100
Infrastructure
tent to which basic, technological, scientific and human resources meet the needs of business
( 2018 rankings are in parentheses)
IMD WORLD COMPETITIVENESS YEARBOOK 2019446
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