Latvia is the world’s 37th most competitive country, according to the World Competitiveness Ranking that is organised by the IMD World Competitiveness Center in Switzerland. Last year Latvia was in 43rd place. The other Baltic States have done better – Lithuania is in 30th place, down two places from last year, with Estonia retaining its 31st place among 61 countries.
The ten most competitive countries according to the rating are Hong Kong, Switzerland, the United States, Singapore, Sweden, Denmark, Ireland, the Netherlands, Norway and Canada. The index has been published since 1989, assessing each country’s macroeconomic indicators, government efficiency, business operations, education, development of technologies, and health care services.