Report: Phl advances in global competitiveness ranking
October 21, 2014 | 6:27pm
MANILA, Philippines - The Philippines placed 52nd out of 144 countries in the Global Competitiveness Index (GCI) for 2013-2014, according to a report from the World Economic Forum (WEF).
Despite being relatively low, the country's ranking is now closer to the Philippine Development Plan 2011-2016 target of being in the top 30 percent of most competitive economies.
The Philippines went up by 33 notches since 2010, a result of the reforms during the last four years, according to the WEF.
The GCI is composed of the 12 pillars of competitiveness, some of which wherein the country showed remarkable improvement.
| Pillar | '10-'11 | '11-'12 | '12-'13 | '13-'14 | '14-'15 |
| Sub-index 1: BASIC REQUIREMENTS | |||||
| 1. Institutions | 125 | 117 | 94 | 79 | 67 |
| 2. Infrastructure | 104 | 105 | 98 | 96 | 91 |
| 3. Macroeconomic environment | 68 | 54 | 36 | 40 | 26 |
| 4. Health and primary education | 90 | 92 | 98 | 96 | 92 |
| Sub-index 2: EFFICIENCY ENHANCERS | |||||
| 5. Higher education and training | 73 | 71 | 64 | 67 | 64 |
| 6. Goods market efficiency | 97 | 88 | 86 | 82 | 70 |
| 7. Labor market efficiency | 111 | 113 | 103 | 100 | 91 |
| 8. Financial market development | 75 | 71 | 58 | 48 | 49 |
| 9. Technological readiness | 95 | 83 | 79 | 77 | 69 |
| 10. Market size | 37 | 36 | 35 | 33 | 35 |
| Sub-index 3: INNOVATION AND SOPHISTICATION FACTORS | |||||
| 11. Business sophistication | 60 | 57 | 49 | 49 | 46 |
| 12. Innovation | 111 | 108 | 94 | 69 | 52 |
A rank of 50 and below in the GCI indicates competitive advantage. The Philippines aims to be in the top 30 percent or rank 43 and above by 2016.
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