Lithuania has improved in nine of the 12 criteria measured by the index, and has made the most progress in improving its macroeconomic environment, moving up from 58th to 42nd position for this factor. Lithuania achieved very high rankings in a range of areas; these include labour costs and productivity ratio (12th place), female workforce (13th place), import in GDP structure (17th place), export in GDP structure (17th place), citizens with secondary education (18th place), network of local suppliers (20th), railroad infrastructure (22nd), local competitiveness (22nd), citizens with higher education (22nd), mobile penetration (22nd), quality of STEM studies (23rd), R&D and business partnerships (27th), and quality of R&D (28th).
“The Global Competitiveness Index is an important and reliable way of evaluating Lithuania’s competitive advantages, and comparing conditions for doing business to those in other countries,” Arvydas Arnasius, Director General of Invest Lithuania said, “Lithuania is successfully climbing up the Index. However, it is important both to put effort into further improvement, and to avoid complacency regarding our results.”
The Global World Competitiveness Index is completed annually by the World Economic Forum. Twelve elements of competitiveness are identified, with the index measuring areas ranging from infrastructure to health care, and education to labour market efficiency.