Taiwan ranked 14th in IMD global competitiveness report
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Taiwan has been ranked the world’s 14th most competitive economy, according to the World Competitiveness Yearbook 2017 published on 31 May by the Swiss-based International Institute for Management Development.
In the survey of 63 major economies, Taiwan maintained its 2016 ranking while recording improvements in the categories of business efficiency and economic performance. The country ranked third in the Asia-Pacific, behind Hong Kong and Singapore.
According to the report, the nation’s economic performance climbed three places to 12th globally on the back of positive results in the subcategories of adjusted consumer price inflation, domestic economy, and international investment.
Taiwan moved up one position to 15th in business efficiency owing to advances in the subcategories of attitudes and values, the labour market, and resilient management practices. In the categories of government efficiency and infrastructure, the nation’s rankings slipped one and two spots to 10th and 21st, respectively.
