Estonia on the Uptick in World's Competitive Economies Index
Estonia has risen slightly in the ranking of the world's most competitive economies, according to the World Economic Forum (WEF).
In its yearly analysis, which is of the the most comprehensive global assessments with 144 countries included, Estonia finished 29th, up from 32nd in its last report.
The report said Estonia remains the best performing country in Eastern Europe, and boasts strong, transparent, and efficient institutions (26th), a solid macroeconomic environment (20th), and high levels of education and training (20th).
A standout area for the country was its labor market, which finished 11th worldwide. The report said it is much more efficient than in most countries of the region.
The WEF docked Estonia points in several areas needed to continue strengthening its rising score. The report mentioned innovation (30th) and business sophistication (48th) in order "to ensure that product and process innovation continues to enhance the country's productivity." The report also concluded that Estonia needs to invest more in its infrastructure (38th), and its transport infrastructure, in particular, is not yet up to Western European standards (58th).
China stood one place ahead of Estonia in the index at 28th, with Iceland one behind at 30th. Finland finished fourth, behind the top three of Switzerland, Singapore and the United States. Lithuania finished 41st, Latvia 42nd. See the table with the country rankings here.
This year’s report included an extensive section of data tables with global rankings covering more than 100 indicators. You can see the full report here.