The UAE Achieves A Quantum Leap In 37 Indicators Of The 2020 Global Competitiveness

 


The UAE has made great leaps in its ranking within the global competitiveness indicators related to five economic sectors: economy, digital economy, trade, foreign trade and entrepreneurship, during the year 2020, compared to 2019, despite the many challenges posed by the Covid19 pandemic on the world's economies.

With regard to the Economic Sector, the UAE jumped 46 places in the “consumer price inflation decline index”, to rank first in the world in this index during 2020, compared to 47th in 2019.

As for the Digital Economy, the UAE has advanced 20 places in the index of the use of virtual professional networks, which are used in Internet communication in business, to occupy the first place in the world in 2020, compared to 21 in the world in 2019.

For the Foreign Trade Sector, the UAE jumped five places in the Index of Creative Goods Exports, to rank eighth globally in 2020, instead of ranked 13th globally in 2019.

As for the Trade Sector, the UAE jumped 11 places in the growth index in commercial services exports. It also jumped 23 places in the commercial services balance index relative to GDP, and 20 places in the commercial services balance index.

As for Entrepreneurship, the UAE advanced 26 ranks in the New Entrepreneurial Activity Index, and maintained its ninth rank in the world in the spread of small and medium enterprises.


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