Sri Lanka ranked 73 at global competitiveness index

5 September 2014 05:36 am - 8 - {{hitsCtrl.values.hits}}

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Sri Lanka has slid eight places to rank 73rd out of 144 countries in the Global Competitiveness Report 2014-2015 released by the World Economic Forum on Thursday.

Sri Lanka, which climbed three spots to 65 last year from 68 in 2012, struggled to make headway despite its overall score remaining at 4.2 (from a range of 1 to 7) from the previous index.

The country's best rank remains 52nd that was achieved in 2011, gained in the upswing experienced after the end of the war.

Access to financing, inefficient government bureaucracy and tax regulations were emphasized as the three top problematic factors for doing business by the report.

Efficiency of institutions also slipped from 54 in 2013 to 62 in the latest report with even infrastructure dropping two ranks from 73 to 75.

However, macroeconomic environment improved from 120 in 2013 to 114, labor market efficiency remained the same at 135 and market size also remaining stagnant at 61.

According to the Global Competitiveness Index (GCI), the United States improved its competitiveness position for the second consecutive year, climbing two places to third on the back of gains to its institutional framework and innovation scores.

Elsewhere in the top five, Switzerland tops the ranking for the sixth consecutive year, Singapore remains second and Finland (fourth) and Germany (fifth) both dropped one place.

They were followed by Japan (sixth), which climbs three places and Hong Kong Special Administrative Region (seventh), which remains stable. (Xinhua)

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Comments - 8

ANTON Friday, 05 September 2014 08:15 AM

AMMATA UDU !!!

EMT64 Friday, 05 September 2014 08:20 AM

South Asia continues to fall. India is at 71 (15 down since 2006). Report states, Sri Lanka is usually an exception in SAARC but now down from 52 in 2011 to 73 in 2014 (war victory euphoria ending?). Pakistan has taken a 28 place nose dive. All in all, not very encouraging for SAARC especially compared to neighboring ASEAN.

samosa Friday, 05 September 2014 09:25 AM

ASEAN is a fast moving reagion. They have the right policies and strive to achieve common goals. What does SAARC do? What benefits traders get, India tries to rule the region & agree only on things which benefit them. SAARC countries can't even agree for on arrival visa among SAARC countries, so how they could agree upon big economic issues for the betterment of the region.

NamalAiyya Friday, 05 September 2014 06:30 PM

wonder what Nivard Uncle has to say. Usually he brags that the govt is on the right track and blah blah... everything they do is to stabilize this and improve that... What nonsense

dulan Saturday, 06 September 2014 02:10 AM

Not a good ranking as in suicides

janaka Saturday, 06 September 2014 09:22 AM

We almost got among the medals coming fourth for world suicide rates?
If there is survey on rapes and incest we must at least be looking at silver?

shantha Saturday, 06 September 2014 10:41 AM

We nearly got among the medals for world suicides coming fourth?
If there is world survey for rapes and incest we must be looking at silver?

Dinu Monday, 08 September 2014 02:55 AM

Elada Bra, looks like heading to end of another era

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Sri Lanka ranked 73 at global competitiveness index

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