The latest World Economic Forum (WEF) Global Competitiveness Index, which has ranked Malawi on 128 out of 141 economies; a step above last year’s ranking.
The report shows a score of 43.4, below the 50 benchmark for competitiveness.
Competitive index is an economic indicator that measures the set of institutions, policies and factors that set the sustainable current and medium-term levels of economic prosperity. Adding to the index, the respective countries have competitive ranks, which are determined by the 12 pillars of competitiveness, namely;
1.Institutions
2.Infrastructure
- Macroeconomic environment
- Health/Primary education
- Higher education and training
- Goods market efficiency
- Labor market efficiency
- Financial Market efficiency
- Technological readiness
- Market size
- Business sophistication
- Innovation
The report says that infrastructure, ICT adoption, skills, market size and macroeconomic stability are among the key areas affecting Malawi to improve her competitiveness at the global level.