Taiwan ranked 14th out of 63 countries in the 2017 IMD World Competitiveness Yearbook, unchanged from the previous year. It ranked third in the Asia-Pacific region, behind Hong Kong and Singapore. Hong Kong ranked first worldwide, while Singapore was third. (Full PDF rankings)
In the World Digital Competitiveness Ranking, Taiwan ranked 12th, up from 16th last year. Singapore, Sweden, and the US were the top three, respectively.
Among four categories, Taiwan only slid two places in infrastructure while improving in economic performance and business efficiency. It fell one place in government efficiency, but still remained among the top 10 in the world.
Taiwan rose three places to 12th in economic performance this year, mainly due to strong performance in “domestic economy,” “international investment,” and “price”; however, its rank in “international trade” and “employment” were weak.
Tax policy and business regulations were among the reasons for Taiwan slipping in the government efficiency rankings.
While Taiwan improved one place overall for business efficiency, it was hindered by a decline in ranking for “financial” and “productivity and efficiency.”
Although Taiwan’s ranking was the same as in 2016, it is still lower than in 2015 when it ranked 11th.