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Pakistan’s Rank Slips 3 Spots on ‘Global Competitiveness Index’

ISLAMABAD: Pakistan has slipped three spots to rank 110th out of 141 surveyed countries in the annual global competitiveness index (GCI).

The World Economic Forum released the Global Competitiveness Report 2019’ on Wednesday.

The WEF, through the method of ‘backcasting’, ranked Pakistan’s economic performance at 110 this year compared to 107 in 2018.

On the 12 Pillars of Competitiveness, among 141 countries, Pakistan ranks at 107th on institutions, infrastructure (105), ICT adoption (131), stability (116), health (115), skills (125), product market (125), labour market (120), financial system (99), market size (29), business dynamism (52) and innovation capacity (79).

Among the South Asian nations, India is at 68, with Sri Lanka 84 and Bangladesh at 105 and Nepal at 108. The 2019 report uses a methodology aimed to fully capture the dynamics of the global economy in the Fourth Industrial Revolution.

The United States fell to second place behind Singapore in the World Economic Forum’s (WEF) flagship Global Competitiveness Report, with the slippage linked in part to President Donald Trump´s trade wars.