Performance overview: Singapore
Singapore ranks 2nd for the sixth year in a row thanks to a remarkably strong performance. It features in the top 10 of ten pillars. It tops the higher education and training pillar and the goods market efficiency pillar, and ranks 2nd in a further five. Singapore’s public institutions (2nd behind Finland) are transparent and highly efficient (1st on public-sector performance). Its infrastructures are among the world’s best (2nd behind Hong Kong). Singapore boasts a stable macroeconomic environment (11th) with healthy public finances (government budget has been in surplus since 2010). Singapore still lags behind the best-performing nations in the most sophisticated areas of competitiveness, with a relatively disappointing 19th rank in the business sophistication pillar and 9th rank in the innovation pillar.