Kazakhstan retains position in World Economic Forum ranking

Kazakhstan ranked 59th, maintaining last year’s position, on the World Economic Forum (WEF) 2018 Global Competitiveness Index (GCI).
Kazakhstan retains position in World Economic Forum ranking
19 October 13:07 2018 Print This Article

 

Kazakhstan has participated in the rating since 2006. From 2007-2011, its rating remained between 60-70 and improved to 42nd from 2012-2015.

Kazakhstan took 57nd place last year according to the former methodology. The ranking improved from 53rd to 57th place. By the new methodology, the ranking was reviewed to 59th last year and remained the same this year.

The rating is composed of 98 indicators. Kazakhstan improved in 50, weakened in 34 and remained the same in 14. The country’s advantages are the labour market (30th place) and dynamic business (37th), while it is weaker in its financial system (100th), healthcare system (97th) and innovation potential (87th).

A significant improvement is noted in institutions, which rose by 12 positions to 61st place, and the goods market, which rose by ten positions to 57th place. The largest decline is noted in education and skills, falling five positions to 57th place, and the healthcare system, which fell three positions to 97th place.

Among post-Soviet countries, Kazakhstan took second place after Russia, which ranked 43rd. Belarus, Turkmenistan and Uzbekistan did not participate. In comparison to the top 30 countries, Kazakhstan fell behind in life expectancy, GDP per capita and average remuneration and income per capita.

The number of countries assessed in World Economic Forum ranking increased from 130 to 140 and the report covers 94 percent of the world’s population and 98 percent of the global GDP. This year, the ranking was headed by the United States, which was among the top three countries for the past five years. The leaders in the top five remain Singapore, Germany, Switzerland and Japan.

Print this entry

  Categories:
view more articles

About Article Author