Pakistan drops 3 places on World Economic Forum GCI index
The World Economic Forum (WEF) has ranked Pakistan at 110 among 141 countries on the Global Competitiveness Index (GCI), ARY News reported 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.