Ukraine drifted closer to the bottom of a global competitiveness index for 55 countries this year.

According to international mass media, Ukraine`s rating slipped to 54 from 46 last year - beating just Venezuela - according to the index produced by the Swiss-based International Institute for Management Development (IMD).

The United States topped world competitiveness rankings for the 15th straight year, but its economy is showing the same signs of weakness that sank booming Japan in the early 1990s, according to an annual survey released Thursday.

Asian tigers Singapore and Hong Kong ranked just behind the U.S., as they did last year. Switzerland jumped two places to fourth, while Luxembourg rounded out the top five most competitive national economies, said the Lausanne, Switzerland-based, IMD business school, publisher of the World Competitiveness Yearbook.

According to AP, rounding out the top 10 most competitive nations were Denmark, Australia, Canada, Sweden and the Netherlands. Slovenia rose eight places to 32nd — a jump matched by Poland, which is now 44th. Greece slipped the farthest, six places down to 42nd.

China and India both dropped two places in the report, to 17th and 29th, respectively. Russia fell four spots to 49th.

Venezuela was ranked last for the third year in a row, immediately preceded by Ukraine, South Africa, Argentina and Indonesia.