Pakistan’s ranking drop on Global Competitiveness report 2019

• The World Economic Forum released the Global Competitiveness Report 2019’ on Wednesday.
• Pakistan has been ranked at 110th among 140 economies.
• Pakistan improved its labor market efficiency with one point by securing 120 rank among 141 economies.

ISLAMABAD: Pakistan’s ranking on the ‘Global Competitiveness Report 2019” was dropped by three position to 110 during Pakistan Tahreek-e-Insaaf (PTI) Government which was 107 during the Pakistan Muslim League-N tenure out of total 140 countries.

The World Economic Forum released the Global Competitiveness Report 2019’ on Wednesday. The report has adopted a new methodology for measuring Competitiveness 4.0. by including indices which represents more knowledge and digital-based ecosystems.

According to the report, on the competitiveness 4.0, Pakistan has been ranked at 110th among 140 economies, slipping three positions below from last year’s 107.

Pakistan has been ranked 107 in Institutions as compared to 109 last year, It is ranked 105 in infrastructure against 93 in 2018, The ICT adoption has slipped to 131 from 127 from a year earlier. With a loss of 13 ranks the Macroeconomic stability at 116 has greatly impacted country’s competitiveness rankings, while the health pillars at 115 in 2019 has slipped from 109 from last year. The skills pillar has retained its position as last year at 125.

Pakistan has also lost 4 ranks on the Product Market Pillar with global ranking on 126. Pakistan improved its labor market efficiency with one point by securing 120 rank among 141 economies. While the Financial Systems Pillar lost 10 ranks and rests at 99 this year, compared to 89 last years, the country improved its competitiveness advantage by securing an impressive 29 position compared to 31 in 2018. Pakistan showed its best performance on the business dynamism by improving 15 points and securing 52 among 141 economies. This gain was due to Pakistan’s improvements on time to start a business where, it improves several ranks.

The country scored 79 on the innovation capability pillar compared to 75 in 2018.