• Agenda
  • Initiatives
  • Reports
  • Events
  • About
    • Our Mission
    • Leadership and Governance
    • Our Members and Partners
    • Communities
    • History
    • Klaus Schwab
    • Media
    • Contact Us
    • Careers
    • World Economic Forum USA
    • Privacy and Terms of Use
  • EN ES FR 日本語 中文
  • Login to TopLink

We use cookies to improve your experience on our website. By using our website you consent to all cookies in accordance with our updated Cookie Notice.

I accept
    Hamburger
  • World Economic Forum Logo
  • Agenda
  • Initiatives
  • Reports
  • Events
  • About
  • TopLink
  • Search Cancel

Global Competitiveness Index

<Previous Next>
  • Highlights
  • Competitiveness Rankings
  • Country/Economy Profiles
  • How to Read the Economy Profiles
  • The Competitiveness World Map
  • Press Release
  • Blogs
  • Infographics
  • Downloads
  • The Global Competitiveness Report 2017-2018
  • Introduction
  • At a Glance: Global Competitiveness Index 2017–2018 Rankings
  • Chapter 1: The Quest for More and Better Growth
  • Chapter 2: Key Findings of the Global Competitiveness Index 2017–2018
  • Chapter 3: Regional Analysis and Selected Economy Highlights
    • Europe
    • Eurasia
    • East Asia and Pacific
    • Latin America
    • Middle East and North Africa
    • North America
    • South Asia
    • Sub-Saharan Africa
    • Conclusions
  • Appendix A: Methodology and Computation of the GCI 2017–2018
  • Appendix B: Global Competitiveness Index 2017–2018 Rankings
  • Appendix C: The Executive Opinion Survey: The Voice of the Business Community
  • Appendix D: Technical Notes and Sources
  • Appendix E: The Future of Competitiveness Benchmarking: A Proposal
  • Acknowledgments
Global Competitiveness Index 2017-2018   Eurasia
Home Previous Next
Global Competitiveness Index 2017-2018   Eurasia
Home Previous Next
Global Competitiveness Index 2017-2018 Home Previous Next
  • Report Home
  • Highlights
  • Competitiveness Rankings
  • Country/Economy Profiles
  • How to Read the Economy Profiles
  • The Competitiveness World Map
  • Press Release
  • Blogs
  • Infographics
  • Downloads
  • The Global Competitiveness Report 2017-2018
  • Introduction
  • At a Glance: Global Competitiveness Index 2017–2018 Rankings
  • Chapter 1: The Quest for More and Better Growth
  • Chapter 2: Key Findings of the Global Competitiveness Index 2017–2018
  • Chapter 3: Regional Analysis and Selected Economy Highlights
    • Europe
    • Eurasia
    • East Asia and Pacific
    • Latin America
    • Middle East and North Africa
    • North America
    • South Asia
    • Sub-Saharan Africa
    • Conclusions
  • Appendix A: Methodology and Computation of the GCI 2017–2018
  • Appendix B: Global Competitiveness Index 2017–2018 Rankings
  • Appendix C: The Executive Opinion Survey: The Voice of the Business Community
  • Appendix D: Technical Notes and Sources
  • Appendix E: The Future of Competitiveness Benchmarking: A Proposal
  • Acknowledgments
  • Europe and Eurasia

Eurasia

Share

Eurasia’s competitiveness performance has improved slightly over the last year, and it will have mostly recovered from the 2015 recession by the end of this year. GDP growth, barely positive in 2016, is projected to reach 1.7 percent in 2017. On average, Eurasia has progressed in almost all competitiveness factors, benefiting especially from lower inflation (the average dropped from 15.5 percent in 2016 to 8.2 percent in 2017) and progress in technological readiness, innovation, and primary education.4 Better-than-expected performances in the region’s two main commercial partners, China and Russian Federation, have also made business sentiment more upbeat.

Nonetheless, not all factors are improving—labor market efficiency has diminished in most countries—and the overall competitiveness of Eurasia remains below the global average. In particular, despite progress this year, the region lags significantly behind most economies in infrastructure, macroeconomic environment, financial development, and the innovation ecosystem (see Figure 2). In a reality of persistently low commodity prices and geopolitical uncertainties, Eurasian economies should accelerate reforms to foster diversification and innovation while continuing to consolidate their public finances.

Although the overall trend is positive for most Eurasian economies, there is little sign of convergence within the region. Its most competitive economies, including the Russian Federation (38th, up five), are maintaining their edge. This year’s most improved Eurasian economy started from a low base: Moldova moves up 11 places to 89th. Others that had been catching up in past years are slipping back, with Georgia (67th) and Kazakhstan (57th) losing eight and four places respectively.

There has been convergence in some pillars, including the macroeconomic environment—where gaps were large—and in one of the most homogenous dimensions, health and primary education. There is, however, not much narrowing of the wide gaps in technological readiness and infrastructure.

The Russian Federation (38th) improves five positions, mostly driven by the macroeconomic environment (up 38 positions to 53rd), rebounding strongly from the 2015–16 recession. However, its economy remains highly dependent on mineral exports and prospects remain uncertain. Weak links continue to include the financial market (107th), in particular the banking sector, along with aspects of institutional quality such as property rights (106th), judicial independence (90th), and corruption, which remains one of the most problematic factors for doing business. Russia has passed new laws to increase the minimum wage (2015) and protect temporary employment (2016), which have lowered labor market flexibility (75th, down 18 places); however, this may have a beneficial overall effect by restoring domestic purchasing power, which had been hit by inflation and the weak ruble.

◀ Previous
Next ▶
 
4
4 Some of this improvement is due to the statistical revision of specific indicators. See Appendix A, Methodology and Computation of the GCI 2017–2018.
  • Europe and Eurasia
Back to Top
Subscribe for updates
A weekly update of what’s on the Global Agenda
Follow Us
About
Our Mission
Leadership and Governance
Our Members and Partners
The Fourth Industrial Revolution
Centre for the Fourth Industrial Revolution
Communities
History
Klaus Schwab
Our Impact
Media
Pictures
A Global Platform for Geostrategic Collaboration
Careers
Open Forum
Contact Us
Mapping Global Transformations
Code of Conduct
World Economic Forum LLC
Sustainability
World Economic Forum Privacy Policy
Media
News
Accreditation
Subscribe to our news
Members & Partners
Member login to TopLink
Strategic Partners' area
Partner Institutes' area
Global sites
Centre for the Fourth Industrial Revolution
Open Forum
Global Shapers
Schwab Foundation for Social Entrepreneurship
EN ES FR 日本語 中文
© 2021 World Economic Forum
Privacy Policy & Terms of Service