TODAY.AZ / Business

Azerbaijan makes impressive progress in Global Competitiveness Index report

06 November 2019 [18:10] - TODAY.AZ

By Azernews


By Abdul Kerimkhanov

Azerbaijan’s economic development and the reforms carried out in the country in recent years are reflected in indicators of international reports.

The country has made considerable progress with regards to its position in Global Competitiveness Index report 2019 published by the World Economic Forum.

In general, Azerbaijan ranked 58th among 141 countries in the Global Competitiveness Index. Azerbaijan climbed up 11 steps in 2019, 2.7 points higher (gaining 62.7 points) compared to the previous year.

In particular, progress was made in the following areas.   

Efficiency Index of Rail Service

Azerbaijan ranked 11th among 141 countries for the Efficiency Index of Rail Service. With 70.8 scores, Azerbaijan was ahead of such developed countries as the U.S. (69.2), Germany (65.3), Estonia (60.9), Norway (57.6) and Sweden (49.3).

The efficiency index is measured by combining such categories as frequency, accuracy, speed and price. The density of railway networks and the overall level of traffic are not reflected in the efficiency index.

Financing of SMEs

Azerbaijan ranked 24th out of 141 countries for “Financing of SMEs” (Small and Medium-sized Enterprises).

Thus, in 2019, Azerbaijan left behind Denmark (25th place), Canada (27th place), Iceland (28th place), Belgium (30th place), Australia (32nd place) in terms of financing of SMEs.

Azerbaijan also ranked above its neighbours for this indicator. Turkey ranked 63rd on this indicator, Georgia - 83rd, Russia - 118th and Iran - 126th.

Efficiency of air transport services

Azerbaijan ranked 12th out of 141 countries in terms of efficiency of air transport services, leaving behind a number of developed countries.

In terms of efficiency of air transport services, Azerbaijan ranked above Belgium (19th place), Australia (23rd place), France (24th place), Ireland (26th place), Germany (28th place) and Canada (37th place).

On this indicator, Azerbaijan was the leader in the region, leaving behind its neighbors: Turkey ranked 31st, Russia - 52nd, Georgia - 86th and Iran - 132nd.

Intellectual property protection

Azerbaijan ranked 30th among 141 countries in terms of the intellectual property protection. Thus, the country left behind such European countries as Portugal (32nd place), Czech Republic (34th place), Slovenia (38th place) and others.

Azerbaijan was also able to leave behind all neighboring countries by this indicator. Turkey ranked 87th, Russia - 90th, Georgia - 94th and Iran - 136th.

Efficiency of seaport services

Azerbaijan has become the leader in terms of efficiency of seaport services among the CIS countries, securing the 25th place in the Global Competitiveness Index report.

Among the CIS countries, Azerbaijan is followed by Russia (47th), Kazakhstan (99th) and Moldova (127th). Kyrgyzstan and Tajikistan ranked 138th and 139th, respectively.

Azerbaijan has recently advanced 14 steps and ranked 43rd among 125 countries in the Global Talent Competitiveness Index 2019. Thus, Azerbaijan ranked first in this rating in the post-Soviet space, excluding the Baltic countries.

Quality of road infrastructure

Azerbaijan has left behind a number of European countries, including Italy and Lithuania, taking the 27th place in the sub-category “Quality of Road Infrastructure.”

Thus, Azerbaijan, which secured the 27th place, left behind Turkey (31st place), the UK (36th place), Lithuania (39th place), Italy (53rd place) and several other European countries.

Government responsiveness to change

Azerbaijan has been identified as the leader among the CIS countries in terms of the “government responsiveness to change” indicator.

Thus, securing the fifth place in this category, Azerbaijan ranks above such CIS countries as Tajikistan (16th place), Kazakhstan (39th place) and Russia (63rd place). Azerbaijan also was ahead of Moldova and Kyrgyzstan, which ranked 104th and 105th respectively.

Growth of innovative companies

Azerbaijan has ranked 21st in the “growth of innovative companies” subcategory.

The country managed to rank above such developed countries as Canada (25th place), Australia (28th place), Japan (30th place), France (31st place) and other countries.

The Global Competitiveness Index is a global study and the accompanying ranking of countries in terms of economic competitiveness, compiled annually by the World Economic Forum.

URL: http://www.today.az/news/business/188043.html

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