Finland Times

Tuesday, 16 April, 2024
Home BUSINESSFinland ranks 10th in global competitiveness
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Thu, 29 Sep, 2016 12:04:30 AM
FTimes – STT Report, Sep 29
 
File Photo – Lehtikuva.
Finland has dropped to the 10th place in the World Economic Forum’s Competitiveness Report.  Last year, Finland was ranked eighth. 
 
According to the report, the main reason for the slide was deterioration of the macroeconomic environment. 
 
The report said Finland has suffered from the global economic downturn, especially in export to Russia and a drop in demand from the paper and electronics industries.
 
The top three spots in the report remained unchanged from last year. Switzerland held the first place, followed by Singapore and the United States. 
 
The other countries that placed higher than Finland were the Netherlands, Germany, Sweden, Britain, Japan, and Hong Kong. 
 
The comparative study covers 138 countries.
 
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