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Published Date: 2019-05-29
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The IMD business school has declared Taiwan the world’s 16_thmost competitive economy in its annual competitiveness ranking.
The ranking examines the economic competitiveness of 63 countries and territories. It also takes a closer look at a range of indicators, grouped into the categories of economic performance, government efficiency, business efficiency, and infrastructure.
Taiwan is now the fourth most competitive economy in the Asia-Pacific region, behind Singapore in first place, Hong Kong in second, and China in third.
Taiwan has moved up one place in the IMD ranking since last year. However, it is still further down the list than it was during 2015, 2016, and 2017.
Taiwan’s ranking in the categories of business efficiency and infrastructure rose, while it held on to twelfth place in government efficiency. However, it fell from fourteenth to fifteenth place in economic performance. Despite gains in the subcategories of foreign investment and domestic economy, it saw losses in the areas of prices, international trade, and employment.