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Colombia More Competitive

Colombia and Argentina have become more competitive, while Peru sees a strong decline.



Just as Mexican antitrust chief Eduardo Perez Motta warns that weak competition will deter economic growth, a new global survey shows a strong decline Mexico’s competitiveness.

Mexico fell one spot on the 2010 World Competitiveness Yearbook from Swiss-based IMD -- to 41st place among 58 economies worldwide. Its score fell 2.425 to 51.481 points. In Latin America it fell from fourth to fifth place on the survey, which looks at over 300 criteria.


“Growth in recent years has been mediocre,” Perez Motta told Bloomberg News. “In order to maintain the growth that will happen this year, we require competition.”


However, Mexico isn’t the only Latin American country seeing reduced competitiveness. Chile, Brazil, Peru and Venezuela also have become less competitive the past year, according to IMD.



Of Latin America’s top seven economies, only Colombia and Argentina have improved their competitiveness. Colombia boosted its score by 2.352 points to 53.890. That led to a jump of six spots to 45th place worldwide. Argentina kept its 55th place even though it improved its score by 3.851 to 46.935 points. That was not enough to avoid being ranked the second-least competitive country among Latin America’s top seven economies.


Venezuela remained the laggard, both in Latin America and worldwide. It kept its 58th spot after seeing its score fall 2.09 points to 27.970.


Chile remains the most competitive economy, but saw its score fall 1.265 to 69.669 points. Worldwide, it fell three spots to 28th place behind Thailand.

Brazil moved up two spots to 38th place, but largely because of a decline in Peru’s rank. Brazil’s score fell 0.334 to 56.531 points, while Peru’s score declined 5.096 to 54.178 points. Peru therefore ranks third in Latin America and 41st globally (a decline of four spots compared to last year).

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