Stagnation in global trade growth and turbulence in emerging markets are reflected in the 2017 Index. Twenty-four of the 50 countries experienced a yearover-year erosion in their overall scores, which could be considered a broad gauge of their competitiveness that includes growth, market attractiveness, infrastructure and transport connections, and business climate. All of 2016’s emerging markets remain in the top 10, but scores for seven of the 10 countries deteriorated: China (1), Malaysia (4), Saudi Arabia (5), Indonesia (6), Brazil (7), Mexico (8), Russia (10). • Nigeria suffered the largest loss in terms of both score (-0.43) and ranking positions (down nine) and ended in 24th overall. Slashed economic forecasts, low oil prices, recession and instability all contributed to this. South Africa was also among the countries with the sharpest drops: it fell four positions to No. 21, hurt by decreasing FDI across manufacturing and mining, stalling infrastructure development, and social issues that weighed down growth. As a result, no sub-Saharan country ranks among the top 20 in the Index, although five other markets from the region – Ethiopia (37th), Tanzania (38th), Ghana (39th), Uganda (41st) and Kenya (43rd) – saw their ranking scores improve.
