REUTERS
Ukraine ranked 60th in the 2017 IMD World Competitiveness Rankings of the most competitive economies, according to the Ukrainian online newspaper Ukrainska Pravda, referring to the report released by the International Institute for Management Development (IMD).
"Ukraine ranked 59th in 2016. This year, Croatia is at 59th position, while Brazil is at 61st," Ukrainska Pravda wrote.
It is noted that the special administrative region of China, Hong Kong, took the top spot in the ranking, while Switzerland ranked second and Singapore third. Next come the U.S., the Netherlands, Ireland, Denmark, Luxembourg, Sweden, and the United Arab Emirates. Russia took the 46th spot.
Read alsoExperts explain Ukraine’s trade prospects with EU"Each state is evaluated based on an analysis of 333 criteria in four areas: the state of the economy, government effectiveness, the state of the business environment, and the state of the infrastructure," Ukrainska Pravda reports.
The rating is calculated according to the methodology developed by the International Institute for Management Development, based in Lausanne (Switzerland).
Noteworthy, Ukraine ranked 59th in the 2016 IMD World Competitiveness Ranking.