Brazil gained five positions in the recently released World Economic Forum competitiveness ranking. The country is now in 53rd place out of 142 countries analyzed. In an analysis released by Agência Estado, the director and economist of the Center for Global Competitiveness of the World Economic Forum, Beñat Bilbao-Osorio, says that it is interesting to observe a positive long-term trend. He mentions that, in the last six years, Brazil has risen 13 positions.

Beñat Bilbao-Osorio also observed, according to the Agência Estado report, the evolution in points that are among Brazilian weaknesses. Despite still having a low rating, aspects competition in the local market, infrastructure and corruption increased.

The Agência Estado report also sets out the criteria in which Brazil obtained favorable grades. The country has the tenth largest domestic market in the world, a business environment considered sophisticated – especially in the financial market – good use of technology and innovation capacity.

Switzerland continues to be the leader in the ranking and another interesting observation made possible by the study is the gradual reduction in the difference in competitiveness between developed and developing countries. Other Latin American countries – such as Bolivia, Ecuador, Mexico and Peru – also advanced in the ranking.

With information from Agência Estado