Romania drops nine places in Global Competitiveness Report

Romania ranks 62nd among the 138 included in the World Economic Forum’s 2016-2017 Global Competitiveness Report. The country ranked 53rd last year and 59th in the 2014-2015 report. The Global Competitiveness Report assesses the competitiveness landscape of 138 economies, providing insight into the drivers of their productivity and prosperity. Romania got a score of 4.3 in the overall ranking. In the Basic Requirements category, which includes institutions, infrastructure, macroeconomic environment, and health and primary education, Romania ranks 72nd, with a score of 4.6. The country did a little bit better in the Efficiency Enhancers category, where it ranked 55th. This category includes higher education and training, goods market efficiency, labor market efficiency, financial market development, technological readiness, and market size. In the category of Innovation and sophistication factors, which targets business sophistication and innovation, Romania is at number 100. In the overall ranking, which is led by Switzerland, Romania ranks behind countries such as the Czech Republic (31st), Poland (36th), Bulgaria (50th), and Slovenia (56th), but higher than the Slovak Republic (65th), Hungary (69th), Ukraine (85th), and Greece (86th). The top three remained similar to last year: Switzerland ranks first with a score of 5.81, followed by Singapore with a score of 5.72, and the US with 5.70. Find the entire report here. Irina Popescu, irina.popescu@romania-insider.com