2019, 6-р сар 18, Мягмар гариг Шилэн данс

IMD WORLD COMPETITIVENESS YEARBOOK 2019

2019 оны 6-р сар 13, Пүрэв гариг


The IMD World Competitiveness Center is presenting this year’s “IMD world competitiveness yearbook 2019”. Since 2010, the Economic Policy and Competitiveness Research Center (EPCRC) has been working with the IMD World Competitiveness Center and providing with necessary data to measure the competitiveness of Mongolia. The data include hard-statistical data and executive opinion survey.

IMD WORLD COMPETITIVENESS YEARBOOK 2019

The study ranks 63 different economies of the world. The ranking is calculated on the basis of 235 ranked criteria out of 332. Among the 235 criteria, 143 of them are from hard and 92 of them are from the survey data.

The IMD World Competitiveness Center presents the overall competitiveness rankings and the 5-year trends for each of the four Competitiveness Factors: Economic Performance, Government Efficiency, Business Efficiency, and Infrastructure. Thus, the reader is able to analyze the evolution of an economy’s performance over the past few years relative to the others on a global basis.

This year Singapore, Hong-Kong, and the USA ranked high in competitiveness whereas Argentina, Mongolia, and Venezuela captured the last positions. Russia and China, our two neighbouring countries are ranked at 45th and 14th.

COMPETITIVENESS OF MONGOLIA

Even though Mongolia kept the last year’s ranking of 62nd out of 63 countries, its overall competitiveness score decreased.  

Out of four main competitiveness factors, Economic Performance ranked the highest with the 58th place  (ranked at the 48th last year).


Competitiveness landscape

As one can see from the graph above that a sub-factor called prices which include indices such as consumer price inflation, cost-of-living index, apartment and office rent ranked high compared to other countries.  

On the other hand, sub-factors such as international trade, productivity & efficiency, management practices, technological infrastructure, scientific infrastructure, and health and environment ranked low.

Factors which affected the decrease in the overall competitiveness score:

Over the last one year, the criteria such as the total expenditure on R&D, government budget deficit, exports of commercial services, capital markets, and tourism receipts were highlighted the biggest improvements in the overall performance of the economy. On the other hand, the criteria such as consumer price inflation, current account balance, transparency, and pension funding were contributed to the biggest declines.

Apart from the aforementioned factors, some sub-factors such as employment, business legislation, health and environment, and education affected the declines in the overall economic performance of Mongolia.

CHALLENGES IN 2019

  • Impending foreign debt repayments may pose some risks for the growing economy.
  • Upcoming Parliamentary election may result in political instability and policy discontinuity.
  • Foreign Direct Investment may decrease due to the election.
  • Inflation may increase due to high domestic demand resulting from increased government expenditure.
  • Social and economic costs of severe air and soil pollution levels in urban areas are posing considerable challenges for the country.

STRENGTHS AND WEAKNESSES OF MONGOLIA

STRENGTHS                                                                                                          WEAKNESSES

Economic Performance

Rank

Economic Performance

Rank

1.1.18

Gross fixed capital formation – real growth

1

1.2.17

Export concentration by partner

63

1.5.04

Office rent

1

1.2.02

Current account balance

63

1.1.14

Real GDP growth

2

1.2.12

Exports of commercial services ($bn)

63

1.3.06

Direct investment flows inward (% of GDP)3

1.2.18

Export concentration by product

63

1.3.08

Direct investment stocks inward (% of GDP)

6

1.3.03

Direct investment stocks abroad ($bn)

63

1.1.09

Gross fixed capital formation (%)

6

1.2.08

Exports of good ($bn)

61

1.1.15

Real GDP growth per capita

7

1.1.19

Resilience of the economy

60

1.5.06

Gasoline prices

9

1.3.07

Direct investment stocks inward ($bn)

59

1.2.09

Exports of goods (%)

14

1.3.04

Direct investment stocks abroad (% of GDP)

59

1.2.23

Trade to GDP ratio

19

1.5.01

Consumer price inflation

59

Government Efficiency

Rank

Government Efficiency

Rank

2.2.09

Consumption tax rate

12

2.2.07

Effective personal income tax rate

63

2.5.14

Disposable Income

14

2.4.09

State ownership of enterprises

62

2.2.11

Employer’s social security contribution rate

16

2.4.10

Competition legislation

62

2.4.07

Government subsidies

16

2.3.04

Country credit ranking

61

2.4.19

Redundancy costs

20

2.3.05

Central bank policy

61

2.5.06

Gini coefficient

24

2.5.04

Risk of political instability

61

2.2.01

Collected total tax revenues

24

2.4.02

Protectionism

61

2.2.10

Employee’s social security contribution rate

33

2.3.11

Transparency

61

2.4.01

Tariff barriers

41

2.4.08

Subsidies

60

2.3.08

Exchange rate stability

60

Business Efficiency

Rank

Business Efficiency

Эрэмбэ

3.2.04

Remuneration of management

1

3.2.19

Finance skills

63

3.2.01

Compensation levels

4

3.3.19

Corporate debit

63

3.2.06

Working hours

20

3.1.08

Large corporations

62

3.2.10

Employee training

24

3.2.18

Skilled labor

62

3.2.20

Attracting and retaining talents

31

3.4.02

Changing market conditions

62

3.2.16

Female labor force

33

3.2.24

Competent senior managers

62

3.5.05

Need for economic and social reforms

34

3.1.09

Small and medium-size enterprises

62

3.4.03

Opportunities and threats

61

3.3.14

Shareholders’ rights

61

3.3.07

Regulatory compliance (banking laws)

61

Infrastructure

Rank

Infrastructure

Эрэмбэ

4.2.01

Investment in Telecommunications

3

4.2.18

Cyber security

63

4.1.21

Electricity costs for industrial clients

6

4.2.11

Qualified engineers

63

4.1.07

Population – growth

8

4.3.19

Medium and high-tech value added

63

4.2.16

High – tech exports  (%)

15

4.4.26

Pollution problems

63

4.2.08

Broadband subscribers

26

4.5.15

University education

63

4.5.07

Secondary school enrollment (%)

30

4.3.22

Knowledge transfer

63

4.2.03

Mobile Telephone costs

32

4.2.07

Internet users

62

4.3.11

Science degrees

62

4.1.04

Access to water

62

4.1.14

Quality of air transportation

62

МУ-ын өрсөлдөх чадварын тайлан

Сүүлийн мэдээ

Аймгуудын өрсөлдөх чадварын тайлан