Azerbaijan, Baku, September 4 /Trend/
Azerbaijan was among the most competitive economies in the world and was 39th out of 148 countries in the ranking of competitive economies in the world for 2013-2014, compiled annually by the World Economic Forum (WEF).
Compared to the last year's report , Azerbaijan improved its position by seven degrees which is the indicator of successfully implemented country's economic policy. In terms of macroeconomic stability Azerbaijan is in the top 10 at 8th place, improving its position by 10 degrees, and that is a very good indicator.
According to the report, in terms of labor market efficiency Azerbaijan is at 30th place. In terms of innovation capacity Azerbaijan is at 60th place, the technological level -at 50th place, quality of institutions - at 59th place.
According to Competitiveness Index Azerbaijan for the fifth year is a leader in the CIS, followed by Kazakhstan (50th place), Russia (64th place), Georgia (72th place), Armenia (79th place), Ukraine (84th place) and so on.
Beginning in 2005, among the CIS countries, besides Azerbaijan, only Kazakhstan, Russia, Georgia and Tajikistan improved their positions. Thus, Azerbaijan rose by 30 positions, Kazakhstan - 11, Russia - 11. In other words, Azerbaijan is also a leader in terms of improving its ranking.
In calculating the index of competitiveness of each country, the WEF uses 12 key indicators - the quality of institutions, infrastructure, macroeconomic stability, health and primary education, higher education and training, goods market efficiency, labour market efficiency, financial market development, technological level, the volume of the internal market , competitiveness and innovation.