In the latest international competitiveness ranking by the Swiss IMD Institute, Finland has dropped four places to 15th. According to a report by the Research Institute for Business Etla, this decline can be attributed to weak economic success, with Finland falling to 50th place in this category. Despite some improvement in international trade, Finland’s ranking in 18 out of 19 areas of comparison weakened compared to the previous year.
This downward trend in Finland’s ranking is concerning as it marks a total decrease of seven places in just two years. Ville Kaitila, a researcher at Etla, notes that while rankings may fluctuate from year to year, this significant decline is a negative trend in the history of the index.
The IMD comparison measures how countries and companies utilize their abilities to achieve wealth or profits. While Finland’s ranking may have dropped recently, there is potential for improvement as the economy recovers and external pressures subside. The country’s weaker economic situation in the past year, including slow GDP growth and high unemployment rates, has contributed to its lower ranking. However, it is expected that as economic conditions improve and external factors stabilize, Finland’s competitiveness may strengthen in the coming years.
