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Chile climbs four places in World Competitiveness Index and maintains top place in Latin America

17 June, 2020

According to the ranking calculated by the International Institute for Management Development (IMD), Chile stands out for its management of public finances, fiscal policy and institutional framework.

The Switzerland-based International Institute for Management Development (IMD) has published its World Competitiveness Index 2020 in which Chile climbed four places (from 42nd to 38th) and maintained its top place in Latin America.

Chile’s best scores were for the ranking’s government efficiency pillar where it rose six places to 20th globally. In this pillar, it stood out for its performance on public finances where it climbed seven places while, on both fiscal policy and institutional framework, it was up two places. In addition, on business legislation, it ranked 13th, up from 18th in the previous version of the ranking.  

In the business efficiency pillar, Chile stood out on labor market, where it rose five places. On the infrastructure pillar, it rose two places, led by basic infrastructure and health and environment infrastructure.   

The ranking, which evaluated 63 countries, was led by Singapore, with Denmark and Switzerland in second and third places, respectively. In Latin America, Peru rose three places to 52nd position. It was followed by Mexico (53rd) and Colombia (54th). Brazil ranked 56th, up by three places on 2019.

Argentina and Venezuela were the lowest-ranked Latin American countries, taking 62nd and 63rd place, respectively.

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