Romania ranks 47th out of 61 countries, in this year’s edition of the World Competitiveness Yearbook published by the IMD World Competitiveness Center in Lausanne, Switzerland.

Romania’s position in the ranking remained unchanged compared to last year. The Romanian economy is seen as more competitive than that of Hungary, which is on 48, Slovenia (49), Greece (50), and Bulgaria (55).

On the other hand, Romania lags behind Lithuania, which is the 28th most competitive economy of the 61 analyzed countries, Czech Republic (29), Estonia (31), Poland (33), Turkey (40), Latvia (43), and Russia (45).

The US remains the world’s most competitive economy, according to the ranking, followed by China and Hong Kong, Singapore, Switzerland and Canada. Germany is just 10th in the ranking, down from 6th in 2014.

The World Competitiveness Yearbook ranks and analyzes the ability of nations to create and maintain an environment in which enterprises can compete. The study analyzes four big factors: economic performance, government efficiency, business efficiency and infrastructure.

The full ranking is available here.

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editor@romania-insider.com