VILNIUS -- Lithuania and Latvia have both seen significant improvement in their rankings in this year's Global Competitiveness Report, while Estonia has held its position as the best ranked Baltic State.
Estonia was ranked 33rd for the second year in a row, with an overall score of 4.62. Lithuania climbed 3 places to 44th with a score of 4.41, while Latvia climbed 6 places to 64th with a score of 4.24.
Switzerland topped the report for a second year in a row with an overall score of 5.74. Singapore overtook Sweden to rank second place.
Sweden came in third, followed by Finland, the US, and Germany.
Released on Sept. 7, the World Economic Forum's 2011-2012 Global Competitiveness Report looks at over 100 different indicators of competitiveness and covers a total of 142 countries worldwide.
The improved rankings for Latvia and Lithuania come as the two countries bounce back from the worst recessions in the EU. The countries are again posting growth rates much higher than those in most western economies.
A full version of the report can be found here.