Singapore ranks 2nd among 140 countries on WEF's competitiveness index

The World Economic Forum's (WEF) new Global Competitiveness Index 4.0 (GCI 4.0), measures national competitiveness—defined as the set of institutions, policies and factors that determine the level of productivity.

On this index, the United States has taken top spot among the 140 countries covered, with a score of 85.6 - while Singapore follows in second place with a score of 83.5.

The top 10 countries on WEF's Global Competitiveness Index 4.0 are:

1. United States - 85.6 2. Singapore - 83.5 3. Germany - 82.8 4. Switzerland - 82.6 5. Japan - 82.5 6. Netherlands - 82.4 7. Hong Kong SAR - 82.3 8. United Kingdom - 82.0 9. Sweden - 81.7 10. Denmark - 80.6

What the ranking is based on: There are a total of 98 indicators in the index, organised into 12 pillars reflecting the extent and complexity of the drivers of productivity and competitiveness. These are:

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