Ukraine ranks 44th in rating of 60 countries as to globalization rate - E&Y
2012-01-25 11:24:55
Ukraine occupies the 44th position in a rating of 60 countries by the globalization rate, a report of the company Ernst & Young reads, which was presented at the 43rd World Economic Forum in Davos.
By results of studies, the experts noted that trade is the strongest category of Ukraine: an index of openness in trade is above the average, also percentage of trade receipts is high (export + import) in GDP (111%, whereas the average index makes up 99%).
However, a positive effect of those two indices is leveled by a point "below the average" as regards tariff and non-tariff barriers, conveniences for international trade and settlement restrictions.
For the third year running, Ukraine ranks the 44th in the general rating, having started its rise from the 58th position in 1995.
Over this time, such indices improved as growth of direct investments (internal and external) from 0.7% of GDP (with the average index of 3.6%) tо 4.1% of GDP (4.5%); development of tourism (internal and international, in calculation per 1,000 of population), from 202 (857) tо 938 (1,308).
A positive factor for Ukraine is the general volume of trade receipts (export + import), which since 1995 remains at over the average level in the index.
At the same time, the level of penetration of broad-band communication and the Internet remained below the average level in the index, although it grew by rather quick rates.
Within the framework of studies "Index of Globalization Rate," results of which were used in preparation of this report, the globalization rate was analyzed of 60 world's leading economies by 20 main indices, comprising the key aspects of processes of international business integration.
The rating is made on the basis of the following five criteria: openness in the sphere of trade, movement of capital, exchange of technologies and opinions, removal of the labor force and cultural integration.