Chile went up from the 28th place to the 25 position in the 2011 world competitiveness ranking, which is carried out every year by the International Institute for Management Development (IMD) in Switzerland and that in this version included 59 countries.
The first five places of the ranking belong to Hong Kong, United States, Singapore, Sweden and Switzerland, which respectively occupied the second, third, first, sixth and fourth place in 2010.
Filling out the rest of the top 10 on the list – which has been recorded since 1989 – is completed by Taiwan (8th place in 2010), Canada (7th), Qatar (15th), Australia (5th) and Germany (16th).
In the last positions we find Greece (56th), Ukraine (57th), Croatia (58th) and Venezuela (59th).
In regional terms, Chile is the country with the best evaluation, located in the 25th place, leaving Mexico 13 places behind in the 38th place, followed by Peru and Brazil in the 43rd and 44th place.
Regarding the countries with less than 20 million inhabitants, Chile is in the 16th position of the ranking.
In relation to the strengths of the Chilean economy, the ranking highlights that the country is an attractive hub for service and productive activities, with a good flow of investment towards the country. Also, the ranking values the high level of investment in telecommunications and a good country image.
In regards to the performance of the economy, the analysis places Chile in the 17th place worldwide, which is the best placement that the country has obtained in this ranking.
The government efficiency was also well evaluated, since it obtained the 12th spot, being only exceeded by the 8th place obtained in 2008.
Business efficiency obtained the 21st spot, the same of 2010, not being able to exceed the goal of 2009 when it obtained the 14th place.
The lowest indicator for Chile is the infrastructure, where it locates in the 40th spot, improving from last years’ 44th place, but away of the 36th position obtained in 2009.
Regarding its weaknesses, the study reveals the low exchange rate, the little export of commercial services and the level of employment.
Likewise, it negatively assesses the unequal distribution of income and the labor force with low training.
In regards of the emerging economies, “Brazil and India are struggling, while Russia, South Africa, Chile, Estonia and Indonesia are ahead,” states the IMD.