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On June 20, 2023, Singapore has been ranked fourth among the world’s most competitive economies in 2023, according to the latest International Institute for Management Development (IMD) World Competitiveness Ranking.
The 2023 ranking assessed the 64 economies based on hard data comprising 164 competitiveness criteria, including economic literature, international, national and regional sources, and feedback from the business community, government agencies and academics.
Out of 64 economies assessed, the Republic ranked high in international trade (second), employment (second) and technological infrastructure (third), but was found to be less competitive in terms of price (51st). It was also ranked 23rd in management practices, and 26th in health and environment.
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