PHL competitiveness ranking improves from 43rd to 38th
|APC Analysis of WCY 2013|
The Philippines improved five notches to 38th from 43rd in the 2013 World Competitiveness Yearbook (WCY) ranking. Among Asia-Pacific countries, the Philippines climbed to 11th after ranking 13th since 2009 (overtaking India and Indonesia in the process). WCY measures four broad factors in measuring competitiveness—economic performance, government efficiency, business efficiency and infrastructure. The number of countries covered increased this year from 59 to 60 with the inclusion of Latvia.
The highest improvement in factor ranking was posted in economic performance, which improved 11 places to 31st from 42nd. This is backed by the 6.6 percent real GDP growth in 2012, the second highest in WCY, controlled inflation of 3.2 percent, and an 8.8 percent increase in exports of goods and services (in PhP value).
Government efficiency hardly moved but improved from 32nd to 31st. Although total tax revenues increased by 13.2 percent, budget deficit increased from PhP197.8 billion in 2011 to PhP242.8 billion in 2012. The debt-to-GDP ratio of 51.4 percent in 2012 is slightly higher than the 50.9 percent in 2011.
Business efficiency improved seven places from 26th to 19th, mostly because of the soaring stock market. Infrastructure is the only factor where the Philippines experienced a decline—from 55th to 57th.
The Philippines has one of the highest improvements in ranking in the region. Thailand rose from 30th to 27th, while Indonesia also climbed three notches from 42nd to 39th. Malaysia posted a slight slippage—from 15th to 14th—but still ranked much higher than other ASEAN countries.
Overall this year, the United States ranked first (from 2nd in 2012; numbers in subsequent parenthesis indicate 2012 rank), Switzerland second (3rd), Hong Kong third (1st), Sweden fourth (5th), and Singapore fifth (4th).
Since 1997, The AIM Policy Center has been a partner institute of the International Institute for Management Development (IMD) for the annual release of the WCY. It draws on hard economic data from various international and national sources, as well as the executive opinion survey of top and middle managers from the ranked countries. The study analyzes over 300 competitiveness criteria to assess and rank the competitiveness of nations.
For more information, contact AIM Policy Center at firstname.lastname@example.org or call at (02)892-4011 ext. 5105 and look for Tristan Canare.
Watch the video of Prof. Stephane Garelli of IMD as he discusses the results of the WCY 2013.
For more information on the global results, please visit http://www.imd.org/wcc/news-wcy-ranking/.
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