Azerbaijan improves two ranks in Global Competitiveness Report

Wed 03 September 2014 07:02 GMT | 12:02 Local Time

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Azerbaijan ranked at 38th among the 144 countries Global Competitiveness Report 2014-2015 by improving two ranks compared to 2013.

According to the report, Azerbaijan ranked 36th for time demanded for business registration, while it ranked at 10th for business registration.

For GDP, Azerbaijan held 70th place, for inflation it ranked 1st.

In the region Azerbaijan is heading all the countries including Turkey which ranked at the 45th position, Kazakhstan placed at 50 by maintaining the same ranking. Russian Federation ranked at the 53rd position and Georgia at the 69th, Armenia at the 85th, Tajikistan at the 91st, Ukraine ranked at the 76th, and Moldova ranked at the 82nd. Kyrgyzstan ranked the 108th by improving 13 rankings. Uzbekistan and Turkmenistan are not included into the surveys of the report.

The report stipulates the strengths of Azerbaijan's competitiveness in the area of macroeconomic environment, which is placed in the best position ranked at the 9th position out of 144 countries and followed by labor market efficiency ranked at the 33rd.

The other pillars of Azerbaijan's competitiveness ranked as follow: institutions ranked at 60th, infrastructure at 70th, health and primary education at 104th, higher education and training 90th, goods market efficiency 72nd, financial market development 89th, technological readiness at 56th, market size at 72nd, business sophistication at 80th, and innovation ranked at 59th.

Motor roads ranked at 69th, railway infrastructure at 37th, airlines infrastructure at 44th.

Azerbaijan held 48th place for transparency.

Taxation effectiveness ranked 82nd, anti-monopoly legislation effectiveness is 130th.

Switzerland tops the overall rankings in the Global Competitiveness Report for the fifth consecutive year. Singapore remains in second position, the United States in third position, and Finland ranked the 4th, while Germany, Japan, Hong Kong, The Netherlands, the United Kingdom and Sweden are in TOP 10.

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