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Brazil's business hub Sao Paulo. Brazil's economy has become more competitive after five years of deterioration, according to a Latinvex analysis of new World Economic Forum data. (Photo: State of Sao Paulo Government)
Friday, September 29, 2017
Trade Talk

Competitiveness: Brazil Improves After Five Years


Argentina and Nicaragua lead gains, Panama, Dominican Republic lose.  

BY JOACHIM BAMRUD

For the first time in five years, Brazil – Latin America’s largest economy – is improving its competitiveness, according to a Latinvex analysis of the latest Global Competitiveness Index from the World Economic Forum.

The milestone is only the latest showing a turnaround in Brazil’s economy after years of mismanagement, with inflation falling for the first time in several years and the economy and foreign direct investment growing as a result of recent reforms.

Meanwhile, Argentina and Nicaragua led the way in improving their competitiveness in Latin America the past year, while Panama and the Dominican Republic suffered the worst deterioration, according to our analysis of the new data from the World Economic Forum, which was released in its Global Competitiveness Report 2017-2018.

Chile’s economy remains the most competitive in the region, but Costa Rica now ranks second, thanks to improving its score just as Panama (last year’s number two) suffered a deterioration.

Mexico, Latin America’s second-largest economy, continues to rank ahead of Brazil as well as the economies of Colombia and Peru.

At the bottom, Venezuela continues to be the top loser. In fact it ranks among the 11 worst countries on the World Economic Forum’s Global Competitiveness Index, which tracks 137 nations worldwide.

Overall, Latin America’s competitiveness improved, with its average score reaching 4.8 points compared with 4.6 last year. (Since Bolivia was not included this year, we compared this year’s score with last year’s score after taking out Bolivia).

“Latin America and the Caribbean have seen 10 years of continued improvement in competitiveness,” the World Economic Forum said in a statement on the release of the new competitiveness report. 

© Copyright Latinvex

 

 

 

Latin America's Most Competitive 2017

LRK

Ch

GRK

Ch

Country

Score

Ch

1

Same

33

Same

Chile

4.71

0.07

2

1

47

7

Costa Rica

4.5

0.09

3

-1

50

-8

Panama

4.44

-0.07

4

-1

51

Same

Mexico

4.44

0.03

5

Same

66

-5

Colombia

4.29

-0.01

6

Same

72

-5

Peru

4.22

-0.01

7

Same

76

-3

Uruguay

4.15

-0.02

8

1

80

1

Brazil

4.14

0.08

9

-1

84

-6

Guatemala

4.08

Same

10

3

92

12

Argentina

3.95

0.14

11

2

93

10

Nicaragua

3.96

0.14

12

-2

96

-8

Honduras

3.92

-0.06

13

-2

97

-6

Ecuador

3.91

-0.05

14

-2

104

-12

Dom. Rep.

3.87

-0.07

15

-2

109

-4

El Salvador

3.77

-0.04

16

Same

112

-5

Paraguay

3.71

0.06

17

Same*

127

3

Venezuela

3.23

-0.04

Average

4.8

0.02

Sources: World Economic Forum, Global Competitiveness Index 2017-18; Latinvex (LatAm rank, change)

LRK=Latin America Rank. GRK=Global Rank

*Bolivia not included in 2017-18 WEF Report, so Venezuela position same as last year if Bolivia were excluded on last year's ranking.

 

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