Armenia is ranked 70th among 140 countries in the Global Competitiveness Report 2018 published by the World Economic Forum.
Armenia improved its positions climbing by two positions as compard to the ranking published in 2017.
Among regional countries Georgia ranks 66th, while Azerbaijan is 69th on the list. Iran and Turkey are 89th and 61th respectively.
There are a total of 98 indicators in the index, derived from a combination of data from international organizations as well as from the World Economic Forum’s Executive Opinion Survey.
These are organized into 12 pillars in the GCI 4.0, reflecting the extent and complexity of the drivers of productivity and the competitiveness ecosystem. These are: Institutions; Infrastructure; ICT adoption; Macroeconomic stability; Health; Skills; Product market; Labour market; Financial system; Market size; Business dynamism; and Innovation capability.
The United States is number one in the ranking, while Chad is the last one.