The Federal Competitiveness and Statistics Centre confirmed that the UAE made significant strides in its ranking across various global competitiveness indicators related to five economic sectors during 2020, compared to 2019, despite the numerous challenges posed by the COVID-19 pandemic on global economies. The center released a recent report on the UAE's performance in competitiveness indicators for 2020, covering the sectors of economy, digital economy, trade, foreign trade, and entrepreneurship. "The UAE achieved a substantial leap in 37 competitiveness indicators and maintained its advanced positions in many others, continuing its progress towards the top ranks in various sectors, supported by stimulus packages provided for economic sectors," the report stated.
According to the center, the indicators are based on seven primary reports for global competitiveness issued by international entities, including the Global Competitiveness Yearbook, the Digital Competitiveness Yearbook, the Global Innovation Index, the Wellbeing Index, the Global Competitiveness Index, the Global Talent Competitiveness Index, and the Social Progress Index.
**Economy Sector**
In the economy sector, the UAE jumped 46 places in the "Consumer Price Inflation Decline Index," ranking first globally in this index in 2020, compared to 47th in 2019. The country also advanced in the "Actual Growth in Household Spending Index," which indicates a higher standard of living, claiming the top spot globally, up from 57th in 2019.
**Business Environment**
The UAE also moved up eight places in the "Ease of Doing Business Environment Index," now ranking 10th globally, compared to 18th in 2019. It improved seven places in the "Business Startup Index," reaching 8th globally from 15th in 2019. The report also highlighted the UAE's progress of seven places in the "Competition in the Local Market Index," now at 11th globally from 18th, and a three-place jump in the "Country Image Abroad Index," now 4th instead of 7th.
The UAE improved one spot in the "Procedures for Starting a Business Index," placing 5th from 6th in 2019, and advanced six places in the "Ease of Starting a Business Index," ranking 16th globally from 22nd before.
**Anti-Monopoly Measures**
According to the report, the UAE jumped 16 places in anti-monopoly policies, 39 places in gross capital formation, and 28 places in actual growth in gross fixed capital formation. It also advanced 26 places in high and medium technology with added value, nine places in patent productivity, and seven places regarding low rates of applied fees or tariffs.
The center noted that despite challenges, the UAE succeeded in maintaining its advanced positions in many indicators related to the economy sector, holding the global top position in various indices, particularly in public-private partnerships, production site stability, and retaining 5th place worldwide in the ratio of total domestic savings to GDP.
**Digital Economy**
Regarding digital economy indicators, the center revealed that the UAE achieved many leaps in global competitiveness during the pandemic, notably advancing 20 places in the Virtual Professional Network Usage Index, ranking first globally in 2020, up from 21st in 2019. The country climbed four places in internet usage, now 5th worldwide, from 9th in 2019.
The UAE also increased seven spots in tablet ownership among the population, reaching 14th globally from 21st in 2019. It improved three places in the percentage of internet users as a share of the population, placing 5th compared to 8th in 2019, and advanced two places in smartphone ownership to 19th globally from 21st.
Furthermore, the UAE moved up two spots in the Information and Communication Technology Access Index, ranking 13th globally, and jumped 22 places in the Internet Broadband Speed Index and 21 places in Internet Bandwidth.
The UAE also maintained its first place globally in mobile phone subscriptions per 100 population, as well as its top ranking in mobile broadband, and kept its 14th position in both "Digital Skills of Active Population" and "Government Online Services," while ranking 22nd in ICT infrastructure.
**Foreign Trade**
In the foreign trade sector, the UAE climbed five places in the Creative Goods Exports Index, now ranked 8th globally in 2020, compared to 13th in 2019. It also advanced 20 places in net imports of advanced technologies, nine places in net technology exports, and seven places in ICT services exports.
The UAE improved ten spots in the share of industrial exports from total exports, five places in per capita industrial exports, and three in net outward foreign direct investment flow.
**Trade Sector**
The UAE advanced 11 spots in the index for growth in service exports, jumped 23 places in the service exports balance relative to GDP, and increased 20 places in the service exports balance overall. It also moved up five spots in importing goods and services as a share of total trade and three in product-wise exports. The country maintained its 8th global ranking in the focus on exports from partners.
**Entrepreneurship**
The report indicated that in the entrepreneurship sector, the UAE advanced 26 places in the New Entrepreneurial Product Activity Index while maintaining its 9th global ranking in the spread of small and medium enterprises.
