Compared to last year's rankings, Estonia has dropped two spots, reported ERR's radio news.

The rankings were topped this year by the US, Singapore and Germany.

Switzerland, which had topped the rankings for nine years, dropped to fourth place this year.

Of Estonia's neighbours, Finland ranked 11th, Lithuania 40th, Latvia 42nd and Russian 43rd.

The WEF uses indicators from across 12 categories, or pillars, in calculating a country's competitiveness, including infrastructure, higher education and training, labour markets, financial markets as well as innovation.

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