Kazakhstan is the only country in Central Asia in IMD Global Competitiveness Ranking

Kazakhstan is the only country in Central Asia in IMD Global Competitiveness Ranking
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Kazakhstan ranked 35th out of 67 countries in the International Institute of Management Development's (IMD) report on global competitiveness, Kazinform News Agency reports. Kazakhstan has risen two spots this year, solidifying its position as the leader in Central Asia.

Released in June 2024, the IMD Global Competitiveness Index comprises 67 nations and serves as a crucial standard for evaluating the economic competitiveness of those nations. Ghana, Nigeria, and Puerto Rico are the three new nations that have been included in the ranking this year.

Singapore was number one on the list, followed by Hong Kong, Switzerland, Denmark, and Ireland. China was ranked 14th, whereas the United States was placed 12th.

Kazakhstan, which is ranked 35th in the world, has shown notable progress in a number of competitiveness-related areas. In terms of economic productivity, the nation came in at number 43 with a score of 46.7. With a government efficiency rating of 59.7, Kazakhstan was able to secure the 18th position. With 54.2 points in the business efficiency category, the nation came in at number 28. Kazakhstan placed 49th in the infrastructure category with a score of 35.2 points.

The nation moved up 30 spots to 29th place with 50.8 points in the domestic economy. Kazakhstan's score in foreign trade dropped by nine spots to 38.7 points, good for 55th place. With a score of 43.8, the nation moved up 3 spots to 40th place in the category of foreign investment. Kazakhstan improved its position by 7 spots to take 29th place in terms of employment, with 49.2 points. With 44.3 points in the pricing category, the nation moved up 13 spots to 41st place.

The IMD research emphasizes that an economy's competitiveness is influenced by factors other than GDP and productivity, such as politics, society, and culture. The Governments help businesses produce sustained value by establishing efficient institutions, infrastructure, and policies.

Thirty-six years ago, the IMD World Competitiveness Ranking was established with the goal of offering practical analysis of economies, regions, and subregions based on their capacity to generate long-term value for their populace. The ranking uses survey and statistical data to identify trends and establish a standard.

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