Estonia fell five places in global competitiveness ranking

October 8, 2008

Estonia fell five places from 27th to 32th in global competitiveness ranking compiled by World Economic Forum, but has still the best place compared to our neighbours Latvia, Lithuania and Russia, mediates

Estonian economy is most competitive among those 12 countries which joined EU in 2004.

Economic Forum estimates that efficient governmental institutions and well-functioning markets have built Estonia up.
“Government manages the budget skilfully, taking new technologies to use to advance the economy,” says the report.
Economic Forum grounds the fall with smaller budget leftover and rising inflation, also with general low level in Baltic economic space.

Lithuania has 44th place and has fallen 6 places. Russia has risen 7 places and has 51st position and Latvia has fallen 9 places to 54th position.

Despite financial crisis, US still has the first place. Switzerland has second place and they’re followed by Denmark, Sweden and Singapore.

Finland has 6th place, just like last year, Germany has fallen to places to 7th. Holland has also fallen 2 places to 8th. Japan and Canada both are in top ten, first of them has fallen one and the other three places.