Among the countries that make up the BRICS (Brazil, Russia, India, China and South Africa), only Brazil managed to climb the global competitiveness ranking, prepared by the World Economic Forum (WEF) and released today (September 5) by the Competitive Brazil Movement. Last year, the country occupied 53rd place on the list of the most competitive countries in the world and has now climbed to 48th position.

Among the emerging markets, the People's Republic of China continues to lead the BRICS group, but fell three positions compared to last year, falling from 26th to the 29th position. South Africa currently occupies 52nd place, followed by India (59th) and Russia (67th).

Switzerland continues to lead the ranking, followed by Singapore, Finland, Sweden, Holland, Germany, the USA, the UK, Hong Kong and Japan.

According to the ranking, southern European countries continue to suffer due to the economic crisis, including Greece, which was in 90th place last year and fell six positions this year. In contrast, the Asian economies have demonstrated very good performance. In addition to Hong Kong and Japan, Taiwan (13th) and South Korea (19th) are also among the 20 most competitive countries in the world.

The ranking in the Global Competitiveness Report is based on the Global Competitiveness Index, developed for the World Economic Forum, which encompasses 12 categories known as the pillars of competitiveness. The pillars are institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labor market efficiency, financial market development, technological readiness, market size, business sophistication and innovation.

07 September 2012