New Zealand 13th most competitive nation

New Zealand 13th most competitive nation

Source: BusinessNZ

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New Zealand is the 13th most competitive country in the world, according to the 2016 Global Competitiveness Index.

The Global Competitiveness Index ranks countries’ economic competitiveness, based on economic data and surveys of large businesses in 148 countries.

New Zealand scores in the top 6 countries for lack of corruption, ease of starting a business, legal rights, transparent policy making, soundness of banks and ease of access to loans.

New Zealand’s weakest scores - ranking between 47th and 116th in the world - are for factors including quality of road and rail infrastructure, levels of saving, and levels of exports.

BusinessNZ Chief Executive Kirk Hope said New Zealand’s overall high rankings reflected the soundness of the country’s economic, legal, justice and policy institutions, and the strength of our economic fundamentals.

He said the areas where New Zealand could improve rankings are connected to our business environment and business practice, including R&D spending, buyer sophistication, manufacturing sophistication, technology uptake and intensity of local competition.

"These are areas where work is needed for New Zealand to become a more competitive, innovative, sophisticated exporter of goods and services," Mr Hope said.

The top ten countries in the Global Competitiveness Index this year are Switzerland, Singapore, US, Netherlands, Germany, Sweden, UK, Japan, Hong Kong and Finland, while Australia ranks 22nd.

The complete results of the 2016 Global Competitiveness Index are on www.weforum.org

ENDS

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