ArmInfo. Armenia ranked 69th out of 141 countries in the Global Competitiveness Index of the World Economic Forum for 2018-2019. Over the year, compared with the index for 2017-2018, the country climbed 4 levels and took 73 rows from 139 countries. In 2015-2016, the country ranked 79th.
As noted in the rating report, the country has advanced up in almost all indicators. The best positions were registered in the level of development of the labor market (32nd place), product market (44th place), in assessing the dynamism of business (57th place). In matters of adoption, the country is at an average level (59th place), infrastructure development (60th place), people's skills development (61th place), innovative capital and institutional development (62nd place in two sections), macroeconomic stability (64th place), health (68th place), the financial system at a low level (69th place), the market volume, for obvious reasons, is in the worst condition (118th place).
Singapore is in the lead, followed by the United States and Hong Kong, respectively. Of the other post- Soviet republics, Russia is in 43rd place, Azerbaijan in 58th, Kazakhstan in 55th, and Kyrgyzstan in 96th. The Global Competitiveness Index measures countries' readiness for the fourth industrial revolution. Among the measured indicators: the quality of institutions, the state of infrastructure, penetration of IT and modern communications, macroeconomic stability, the consumer market, the labor market, the financial system, the size of the domestic market, health, education and skills, the dynamics of business development, and the ability to innovate.