Mongolia ranked 62nd out of 63 countries in IMD World Competitiveness Yearbook 2017
Mongolia ranked 62nd with 48.1 overall score (out of 100 score) out of 63 countries in IMD World Competitiveness Yearbook 2017, published by IMD annually since 1989. Mongolia ranked 60st with 45.7 overall score out of 61 countries in last year’s report which means overall score of Mongolia increased. Competitiveness of countries were evaluated by 346 criteria based on four factors: “Economic performance”, “Business efficiency”, “Government efficiency” and “Infrastructure”
Overall performance of Mongolia and ranking of four factors
These is a no dramatic change in Mongolia’s overall competitiveness score however it looks like Mongolia backed by 2 places in the report because of 2 countries (Saudi Arabia and Cyprus) with good competitiveness were added to the this year’s report
Here are the strengths and weaknesses of Mongolian competitiveness which mentioned in the report.
Strengths and weaknesses of competitiveness of Mongolia
|
Strengths |
Rank |
Weaknesses |
Rank |
|
Government subsidies |
4 |
Export concentration by partner |
63 |
|
Direct investment stocks inward |
6 |
Exchange rate |
62 |
|
Population – growth |
8 |
GDP per capita |
60 |
|
Consumption tax rate |
12 |
Diversification of the economy |
60 |
|
Start-up days |
22 |
Government budget surplus/deficit (%) |
62 |
|
Gasoline prices |
11 |
Central bank policy |
61 |
|
Investment in Telecommunications |
13 |
Government decisions |
61 |
Ukraine(60), Brazil(61), Venezuela(63) are ranked last with Mongolia(62). These countries are politically instable, have internal disorder and rebellion and currently in economic recession which shows how political stability is important for competitiveness.
Following countries are leading by competitiveness
Hong Kong has the highest competitiveness 2 years in a row, followed by Switzerland and Singapore whereas USA ranked 4th as lose position on two consecutive years. Netherlands ranked 5th as jumped by 3 places from last year.
Our neighbor, China, ranked 18th as jumped by 7 places compared to last year whereas our other neighbor, Russia, dropped 2 places, ranked 46th in this year’s report. Countries with high competitiveness scores have some features in common such as created good business environment, developed hard and soft infrastructure and institutional system.
Overall competitiveness scoreboard-2017
World Competitiveness
center published this report in 28th year since 1989 and EPCRC has
collaborated with them since 2010.
For more information, visit http://www.imd.org/wcc/world-competitiveness-center/