Indonesia's Competitiveness Fell 4 Places in 2016-2017

Economics & Macro

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29/09/2016 10:54 WIB

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Indonesia's competitiveness ranking in 2016-2017 fell four places to 41st, down from 37th the previous year. As reported in the Global Competitiveness Index, despite Indonesia's numerous reforms across various sectors, four other countries—Malta, India, Kuwait, and Azerbaijan—outperformed Indonesia, resulting in the drop.

Several key Indonesian economic indicators highlighted by the World Economic Forum include: a 10th-place ranking for Gross Domestic Product (GDP), 30th for macroeconomic stability, and 32nd for innovation.

The financial sector showed improvement, rising seven places to 42nd. However, lower rankings were recorded in health and education, labor, female participation in trade unions, and technological readiness.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."