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The United States, Singapore, Germany, Switzerland, and Japan hold the lead.
Ukraine ranked 83rd of the 140 countries in the Global Competitiveness Index (GCI) 2018 ranking, having climbed by six points from 2017.
"Ukraine ranked 83rd as it has poorly developed institutions, an extremely unstable financial system and macroeconomic indicators," the Novoe Vremya news outlet reports, referring to the Global Competitiveness Index, released by the World Economic Forum (WEF) jointly with the Eurasian Competitiveness Institute and consulting company Strategy Partners.
Ukraine ranked 110th in terms of state institutions, 57th in infrastructure, and 77th in the information and communications technologies (ICTs) adoption.
Ukraine has taken the 131st position in the rating by macroeconomic stability, the 94th position by health, the 46th place by education, and 73rd place by product market.
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The country ranked 66th in terms of labor market, 117th in financial system, 47th in market size, 86th in business dynamics, and 58th in innovation capability.
The United States is in the lead of the rating. Then come Singapore, Germany, Switzerland, Japan, the Netherlands, Hong Kong, the United Kingdom, Sweden, and Denmark.
Poland ranked 37th, Hungary 48th, Slovakia 41st, Romania 52nd, Turkey 61st, and Moldova 88th. Russia took the 43rd place, having climbed by two positions from 2017.
Haiti, Yemen and Chad are in the bottom positions.
To increase competitiveness, WEF advises that all countries build up an economy that is less dependent on external and internal shocks. The countries should be flexible at the industry, enterprise, and individual levels, as well as create an innovation ecosystem, and profess human centric approaches to economic development.