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Armenia has moved up 3 positions to rank 79th on a global index of the world's most competitive economies, according to the report of World Economic Forum, which ranked 138 countries according to the set of institutions, policies, and factors that determine the level of productivity of a country. Last year Armenia was ranked the 88th among 144 states, Manuk Hergnyan, Chairman at Economy and Values NGO told a press conference presenting the data of the newly released study.

To his words, today the Armenian economy is influenced by the global and internal environmental instabilities, amid the rapid changes in the industrial, technological spheres. “Armenia faces new challenges related to external security as well as social-economic situation within the state,” Hergnyan said.

The areas where Armenia ranks better are Business sophistication (16 points), Innovation (20 points), Institutions (10 points), Goods market efficiency (5 points), Financial market development (4 points), Labor market efficiency (3 points).
Little progress has been observed in Health and Primary Education as well as Higher Education and Training.

The study indicates that that the most problematic factors for doing business in Armenia include Macroeconomic environment (16 points) and the Market size (4 points).
Globally, Switzerland, Singapore, and the United States hold the top three positions as the world's most competitive economies, followed by the Netherlands and Germany.

Among the CIS states (including Georgia), a considerable progress has been registered by Georgia (7 places), some progress by Azerbaijan (3 places), Tajikstan (3 places), while Moldova (15 places) and Kazakhstan (11 places) registered decrease.