THE INTERNATIONAL BUSINESS COMPASS 2015: Update and Subject Focus Labor Market Performance

Publ. Prof. Dr. Henning Vöpel and Dr. André Wolf

BDO International Business Compass 20152

„The countries of the world are compared on the basis of measurable factors regarding labor market performance.“

The crucial resources of the future are not found inside the earth, but inside the heads of people. This simple truth is well known among decision-makers in international firms. Only by binding its highly skilled employees can an enterprise maintain its advantage in the globalized quest for knowledge. This imperative does not only hold for large international companies, but especially for small and medium-sized enterprises that are exposed to international competition. For them, highly motivated and continuously trained employees are of particular importance, as they need to compensate the limited financial capital. Hence, company location decisions should always consider the local labor pool as an important factor. Larger and more differentiated labor markets make it more likely that positions with complex and specific qualification requirements can be adequately filled.

The multifaceted nature of requirements implies that the attractiveness of a location with regards to the factor labor cannot be expressed by a single indicator. Instead, labor market performance is a result of the interplay of various aspects, including the size and quality of labor supply as well as the efficiency of labor market institutions. This makes it increasingly difficult to directly compare locations, which is a problem the BDO International Business Compass (IBC) 2015 seeks to address. The countries of the world are compared on the basis of measurable factors regarding labor market performance. For better orientation, three categories are devised targeting capacities, density of qualifications and labor market institutions.

Additionally, the updated IBC Ranking measuring location attractiveness is presented. For the fourth consecutive year economic, politico-legal and socio-cultural conditions of individual countries are rated and combined into a headline figure. The indicators reflecting attractiveness for production and as final markets have also been updated, allowing for a more focused analysis. We hope that the IBC publication continues to provide decision makers with valuable support with their location decisions.

LARGER AND MORE DIFFERENTIATED LABOR MARKETS MAKE IT MORE LIKELY THAT POSITIONS WITH COMPLEX AND SPECIFIC QUALIFICATION REQUIREMENTS CAN BE ADEQUATELY FILLED.

PROF. DR. HENNING VÖPEL DIRECTOR HWWI

DR. ANDRE WOLF SENIOR ECONOMIST HWWI

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„Future workforces need to be capable of meeting higher levels of abstraction, complexity and problem solving. “

FROM AN INTERNATIONAL POINT OF VIEW, THE AVAILABILITY OF EDUCATED, TRAINED AND SPECIALIZED LABOR HAS ACCORDINGLY BECOME AN IMPORTANT INDICATOR OF MARKET ATTRACTIVENESS.

Increasing globalization and digitization are raising the demands made on employees in using new technologies. Manufacturing, logistics, distribution and control processes are becoming ever more complex, to be optimized in ever shorter innovation cycles. Future workforces need to be capable of meeting higher levels of abstraction, complexity and problem solving. They will have to be capable of executing more self-directed activities, using communication competences, of self-organization and of applying skills in information and communication technologies. Yet labor markets are not keeping up with the speed of innovation in all countries. The search for sufficiently qualified technical personnel may lead to decisive bottlenecks for growth in today’s internationally competitive environment. This is true not just for companies, but indeed for whole industries and economies. From an international point of view, the availability of educated, trained and specialized labor has accordingly become an important indicator of market attractiveness.

So how are individual industrialized nations positioned in terms of human resources? What is the situation in the emerging and developing countries? What is the impact of likely demographic change in individual countries? This year’s International Business Compass (IBC) seeks to address these questions in detail in its Subject

Focus on labor market performance. Together with our HWWI partner (the Hamburg Institute of International Economics), we have looked at the demographic scope and composition of labor market pools, as well as their qualification and skill levels. Our study also examines the impact of government on labor markets, together with the degree of labor union organization. The result is that this year’s IBC provides a multidimensional view of the capacity of business locations to provide firms with sufficient qualified labor, at acceptable conditions.

As usual, the IBC overall index provides a wide-ranging data analysis of economic, political and social conditions and how they affect the location and market potential of countries and regions. As an accounting and consulting firm operating internationally, we have striven here to provide as much global coverage as possible. The annual International Business Compass seeks to provide industries and SMEs with reliable information about the possibilities and risks prevailing in worldwide markets. If the HWWI and the BDO manage to help German businesses remain successful in the future, then our efforts will be justified.

DR. ARNO PROBST MEMBER OF THE BOARD, BDO AG WIRTSCHAFTSPRÜFUNGSGESELLSCHAFT

BDO International Business Compass 20154

EXECUTIVE SUMMARY

FOCUS: LABOR MARKET PERFORMANCE

When surveying multinational corporations about important factors for location decisions, the availability of qualified workers is regular-ly one of the most often cited factors. In the future, the importance of skilled labor will likely increase further: the search for suitable per-sonnel can become the bottleneck for the growth of an enterprise. On one hand, the increasing speed of information and work proces-ses increases the prerequisites concerning cognitive abilities. On the other hand, continuous process differentiation increases the demand for highly specialized skills. From an economic viewpoint, these two trends reinforce the matching-problem in labor markets: it becomes increasingly difficult to recruit applicants with suitable qualifications. Hence, knowledge of local labor markets is of great importance to a company’s location decisions.

The BDO IBC 2015 addresses this issue by including a section focusing on labor market performance. This is generally understood to be the ability of locations to provide companies with sufficient qualified labor at a reasonable a cost, and is thus necessarily a multidimensional con-cept. To reflect the distinct dimensions a trisection is performed in the indicator-based analysis. The first dimension labelled capacity measu-res the size and demographic structure of the working population. Qualification is the second dimension, indicating the current and future level of qualification of the labor pool. Finally, institutions make up the third dimension reflecting the governmental influence on labor markets as well as the degree of unionization.

174 COUNTRIES COMPARED

The study covers 174 countries from 6 continents. As before, coun-tries with less than 150.000 inhabitants as well as Cuba, West Bank, Somalia and Western Sahara are not included. Luxembourg is also excluded due to its special economic structure and its exceptional per capita investment flows. Syria also remains outside the ranking as the occurring turmoil prevents a sensible Analysis of future condi-tions.

Most of the data has been updated from the 2012 to the 2013 values for this year’s analysis, relying on the same trusted international sour-ces. Where averages were used, the time period is shifted accordingly. The indicators have not changed in relation to previous editions and still reflect the main aspects of location quality. Normalization is per-formed for each indicator and three pillars are constructed using simple averages. In the end, the final index is generated as a geometric

mean of the three pillars. Special indicators ranking attractiveness for production and for marketing result from averaging the relevant location indicators. Non-OECD countries have been grouped by continent for ease of comparison.

SWITZERLAND RANKING NUMBER ONE The BDO IBC 2015 is headed by Switzerland, which has moved up two ranks due to its excellent performance in all three pillars, but particularly socio-culturally. Singapore and Hongkong can be found in second and third place. These Asian finance metropolises perform exceptionally well on economic indicators. The remaining Top 10 are filled with OECD-countries, which dominate the top tier. Norway, Sweden and Denmark form a Scandinavian trio within the Top 10. Great Britain and the Netherlands managed to improve their ranking by as much as seven places, as opposed to the previous year.

The major economies of Germany, the United States and Japan can be found on the 11th, 14th, and 20th rank respectively. Within the top 40 there are mainly European and OECD-countries as well as some oil-rich Asian countries. On the bottom, the Republic of Congo, North Korea and Sudan are the lowest performing countries. These countries underperform particularly in the politico-legal category.

Belarus and Djibouti were able to improve by 29 ranks compared to the previous year, making them the high risers in this year’s IBC. For Belarus, this was due to improved economic conditions, especially the reduction of rampant inflation. Djibouti’s rise can be attribut-ed to improvements in health and education indicators. The Repub-lic of Cabo Verde has seen its rank drop by 29 spots. Educational and employment indicators were responsible for this relative decline. The turmoil brought about by the revolutions in the Middle East and North Africa also drives some major changes in the IBC ranking. Yemen and Egypt dropped by 19 ranks each, Tunisia as much as 26 ranks. Argentina’s economic distress is also reflected by it dropping 25 places.

In the IBC production index, the Netherlands and Belgium lead the OECD countries. This is mainly due to their formidable geographic location in the heart of Europe and their internationally oriented eco-nomic policies. The UK, Switzerland, Denmark, Canada, Germany and Ireland follow suit and are all among the global Top 10 production locations. The worst performers among OECD countries are Slovakia, Turkey, Portugal, Greece and Mexico. While labor costs may be low, the infrastructure and limited market potential of these countries prevent a better ranking.

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OECD countries also dominate the IBC market index. The first 16 ranks are occupied by OECD countries. Top performers are the high income countries Switzerland and Norway. In third place the intensely consuming United States can be found. Germany and Japan complete the top 6. Further down, the smaller OECD economies not so close to the large European market Israel, Mexico and Turkey are the worst placed, yet still in the global midfield.

In Africa, the largest economies are also found atop the market ran-king. South Africa is among the global top 30, while Egypt, Morocco and Tunisia are next best. Similarly, the most attractive final market in Asia is China, which is in the global top 10 due to its large economy. Hong Kong, India, Singapore and Taiwan follow suit, thus including three small, but high income economies. The most attractive sales market in South America is Brazil, ranking 14th globally, followed by Argentina and Peru.

The western industrial nations and Japan still maintain the highest qualified workforce, but are facing the challenge of an ageing popu-lation. This is reflected in pressures on labor market institutions to reform. Due to continuously high birth rates, particularly sub-Saha-ran, African countries have better demographic perspectives despite substantial emigration. On the other hand, demographic develop-ments create difficulties for already strained educational systems. In Asia, economic growth is forming the labor pool. The work ratio within the younger generations has dropped significantly as a result of an increasing demand for higher education. In Eastern Europe a simi-lar development can be observed, but paired with a less advantageous demographic situation. Finally, Latin America is currently in a transiti-on phase concerning its demographic patterns, somewhere between developing country and industrial economy. This is a great opportuni-ty for the region, which is hampered by the lack of high quality qualifi-cations and mediocre educational systems.

LIMITED DYNAMICS AT THE GLOBAL LEVEL

Updating the IBC Index has confirmed its relevance as a location indicator reflecting geopolitical trends. The overall ranking for 2015 does not present a major overhaul of previous results. Switzerland has climbed to the top spot with Singapore and Hong Kong trailing, leaving the top 3 countries to change places. The remaining top 10 is filled with OECD countries. Northern Europe leads the regional ranking, as three Scandinavian countries are found in the Top 10. Several North African countries have lost ground as a result of the political overthrows and resulting instabilities.

BDO International Business Compass 20156

THE BDO INTERNATIONALBUSINESS COMPASS 2015

Belarus

2015: Rank 862014: Rank 115

Yemen

2015: Rank 1572014: Rank 138

The main increases of the Year 2015

The main falls of the Year 2015Source: HWWI (2015)

INDEX

No values

< 30,00

30,01 – 40,00

40,01 – 50,00

50,01 – 60,00

60,01 – 70,00

70,01 – 80,00

> 80,00

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Djibouti

2015: Rank 1332014: Rank 162

Ukraine

2015: Rank 892014: Rank 109

Maldives

2015: Rank 902014: Rank 110

Latvia

2015: Rank 302014: Rank 49

Cape Verde Islands

2015: Rank 1082014: Rank 79

Tunesia

2015: Rank 1092014: Rank 89

Mozambique

2015: Rank 1652014: Rank 140

Argentinia

2015: Rank 1172014: Rank 92

The main increases of the Year 2015

The main falls of the Year 2015

BDO International Business Compass 20158

APPENDIX C

RANKING BY THE OVERALL INDEX

Switzerland EU 1 2 81.88 6 69.35 6 95.60 1 82.81

Singapore AS 2 -1 81.03 1 75.63 5 96.24 11 73.09

Hong Kong AS 3 -1 80.17 2 74.62 10 92.44 5 74.70

Norway EU 4 0 79.04 7 69.33 8 94.91 4 75.06

Denmark EU 5 1 78.90 8 69.07 3 96.52 8 73.67

Netherlands EU 6 7 77.71 3 73.81 7 95.29 21 66.71

Canada NAM 7 3 76.98 13 67.14 12 91.97 7 73.87

United Kingdom EU 8 7 76.58 11 68.40 15 90.57 12 72.50

Sweden EU 9 0 75.88 14 67.00 2 97.43 19 66.93

New Zealand OC 10 -3 75.72 26 61.52 4 96.27 9 73.32

Germany EU 11 8 75.64 5 70.63 13 91.75 20 66.78

Australia OC 12 -7 75.13 33 60.50 11 92.35 3 75.91

Austria EU 13 4 75.10 18 64.18 9 93.00 14 70.96

USA NAM 14 -3 74.91 21 63.21 22 83.06 2 80.07

Belgium EU 15 -3 74.11 9 68.68 17 88.27 18 67.14

Qatar AS 16 0 74.06 4 72.38 38 75.36 6 74.48

Ireland EU 17 -9 73.28 17 64.26 14 91.12 17 67.21

Finland EU 18 -4 72.99 19 63.87 1 97.72 28 62.31

Iceland EU 19 -1 71.72 43 58.44 16 88.36 13 71.45

Japan AS 20 1 70.19 55 56.19 21 84.15 10 73.15

UAE AS 21 -1 69.45 15 66.53 47 71.40 15 70.52

France EU 22 0 69.09 16 64.68 23 80.63 25 63.24

Taiwan AS 23 1 68.03 12 67.97 27 78.82 42 58.77

South Korea AS 24 4 67.84 10 68.53 45 72.18 26 63.12

Czech Republic EU 25 5 67.83 25 61.84 25 79.42 24 63.55

Brunei Darussalam AS 26 7 67.22 31 60.66 35 77.11 23 64.94

Israel AS 27 0 66.10 42 58.47 44 72.41 16 68.23

Chile LAM 28 -5 66.10 53 56.23 18 85.83 34 59.83

Estonia EU 29 2 66.01 28 61.02 19 85.72 53 55.00

Latvia EU 30 19 66.01 22 62.30 31 77.33 35 59.70

Lithuania EU 31 13 65.83 29 60.95 26 78.84 38 59.38

Slovenia EU 32 0 65.21 24 62.00 36 76.98 45 58.08

Malta EU 33 -7 64.80 59 55.31 20 84.69 44 58.09

Poland EU 34 2 64.10 32 60.51 30 77.52 49 56.16

Italy EU 35 3 63.43 41 58.54 42 73.15 36 59.60

Bahrain AS 36 -2 63.22 27 61.08 58 63.35 22 65.30

Oman AS 37 6 63.12 39 59.30 51 67.86 27 62.49

Country Conti-nent

Index Economic Political-legal Socio-cultural

Conditions

Rank Change Value Rank Value Rank Value Rank Value

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Cyprus AS 38 -13 62.70 60 55.18 33 77.17 46 57.88

Hungary EU 39 0 62.54 35 59.91 39 75.11 55 54.35

Slovakia EU 40 0 62.12 34 60.04 37 75.99 66 52.54

Malaysia AS 41 4 61.55 38 59.30 54 65.39 32 60.14

Kuwait AS 42 5 61.02 23 62.06 68 60.50 30 60.52

Georgia AS 43 5 60.93 56 55.87 50 68.18 39 59.37

Spain EU 44 -15 60.91 37 59.56 34 77.12 90 49.19

Samoa OC 45 6 59.95 68 53.11 52 66.24 29 61.26

St. Lucia LAM 46 6 59.76 81 51.47 41 73.40 48 56.51

Romania EU 47 9 59.62 44 57.61 49 68.30 59 53.86

Mauritius AF 48 -7 59.59 100 49.41 24 79.49 58 53.88

Portugal EU 49 -7 59.48 48 57.31 28 78.30 105 46.90

Uruguay LAM 50 -13 59.18 110 48.41 29 77.89 54 54.97

Costa Rica LAM 51 2 58.75 72 52.28 43 72.78 61 53.30

Saudi Arabia AS 52 -2 58.56 30 60.79 84 55.62 37 59.39

Barbados LAM 53 -18 58.21 123 47.64 40 74.15 50 55.84

Bahamas LAM 54 -8 58.09 78 51.62 56 63.44 33 59.85

Bulgaria EU 55 -1 57.89 36 59.89 62 62.06 68 52.18

Croatia EU 56 1 57.80 49 56.94 46 71.55 103 47.40

Turkey AS 57 10 56.47 45 57.47 65 60.87 77 51.48

Trinidad and Tob. LAM 58 2 56.44 83 51.12 74 59.34 40 59.27

Panama LAM 59 2 56.24 64 53.96 66 60.68 57 54.32

Montenegro EU 60 -5 55.77 51 56.35 57 63.44 94 48.52

Mexico LAM 61 1 55.65 66 53.58 78 57.75 51 55.69

Jordan AS 62 3 55.57 90 50.58 61 62.43 56 54.35

Botswana AF 63 -5 54.95 106 49.05 32 77.20 125 43.83

Albania EU 64 12 54.61 52 56.28 72 60.27 101 48.02

Azerbaijan AS 65 13 54.50 67 53.39 104 50.22 31 60.36

Armenia AS 66 -7 54.41 71 52.65 63 61.39 87 49.83

Greece EU 67 -1 54.40 70 52.73 55 64.18 102 47.55

Vanuatu OC 68 4 54.19 86 51.01 69 60.41 76 51.64

Peru LAM 69 -6 54.01 77 51.65 77 57.86 65 52.71

Jamaica LAM 70 0 53.24 135 45.57 60 62.77 64 52.75

Thailand AS 71 4 53.17 46 57.38 102 50.39 72 51.98

Serbia EU 72 9 53.00 75 51.81 73 59.61 99 48.21

Kazakhstan AS 73 0 52.93 61 54.62 117 47.02 47 57.73

Colombia LAM 74 -3 52.88 87 50.99 83 55.69 71 52.06

El Salvador LAM 75 -1 52.43 91 50.29 75 58.93 93 48.63

Dominican Rep. LAM 76 9 52.43 97 49.98 79 57.60 85 50.06

Bosnia and Herzegowina EU 77 -8 52.40 63 54.01 64 61.30 127 43.45

Rwanda AF 78 15 52.37 84 51.09 59 63.02 120 44.60

Kosovo EU 79 5 51.88 58 55.49 90 53.32 104 47.19

Macedonia EU 80 -12 51.68 57 55.84 67 60.67 136 40.73

Belize LAM 81 -17 51.36 93 50.23 95 51.73 70 52.15

Fiji OC 82 8 51.28 128 46.90 108 49.44 43 58.17

China AS 83 14 51.19 54 56.20 118 46.77 78 51.03

Country Conti-nent

Index Economic Political-legal Socio-cultural

Conditions

Rank Change Value Rank Value Rank Value Rank Value

BDO International Business Compass 201510

Mongolia AS 84 -2 51.15 115 48.20 86 55.33 82 50.17

Sri Lanka AS 85 2 50.92 125 47.31 100 50.58 52 55.18

Belarus EU 86 29 50.92 99 49.44 122 45.19 41 59.10

Moldavia EU 87 7 50.88 65 53.79 88 53.54 112 45.75

Philippines AS 88 14 50.60 73 52.17 97 51.69 100 48.05

Ukraine EU 89 20 50.57 20 63.21 140 40.79 83 50.16

Maldives AS 90 20 50.43 40 59.22 138 41.52 69 52.17

Suriname LAM 91 -3 50.15 109 48.55 106 50.00 73 51.97

Guatemala LAM 92 4 50.01 98 49.89 96 51.72 95 48.48

Rep. South Africa AF 93 -4 49.93 50 56.54 70 60.39 155 36.46

Brazil LAM 94 -17 49.88 138 45.33 82 55.88 92 49.00

Ghana AF 95 -9 49.88 140 45.32 71 60.28 113 45.43

Namibia AF 96 -16 49.38 103 49.16 53 65.73 154 37.26

Nicaragua LAM 97 2 49.24 141 45.19 87 54.61 98 48.38

Paraguay LAM 98 -7 49.19 89 50.61 93 51.81 114 45.38

Vietnam AS 99 -4 49.17 79 51.58 119 46.26 88 49.82

Russia EU 100 4 49.11 62 54.06 139 41.20 62 53.17

Zambia AF 101 17 48.95 108 48.63 76 58.47 134 41.24

Kyrgystan AS 102 -4 48.68 114 48.20 123 45.17 63 52.99

Indonesia AS 103 2 48.58 85 51.08 111 48.23 107 46.53

Lebanon AS 104 2 48.56 127 46.99 121 45.38 60 53.69

Guyana LAM 105 7 48.46 118 48.02 114 47.36 86 50.04

Cambodia AS 106 14 48.38 116 48.16 110 48.54 96 48.42

Ecuador LAM 107 10 48.20 88 50.67 133 42.62 74 51.86

Cape Verde AF 108 -29 48.17 137 45.35 48 68.81 159 35.83

Tunisia AF 109 -26 48.03 76 51.81 120 46.15 108 46.33

Solomon Islands OC 110 6 47.47 119 47.90 128 43.87 80 50.91

Senegal AF 111 10 47.12 132 46.37 81 56.53 142 39.90

Bhutan AS 112 -12 47.00 156 43.75 98 51.32 109 46.25

Timor-Leste AS 113 15 46.98 92 50.26 141 40.67 81 50.73

Uganda AF 114 0 46.89 148 44.52 107 49.58 106 46.71

Benin AF 115 11 46.68 120 47.85 92 52.23 137 40.71

Morocco AF 116 -13 46.64 94 50.19 89 53.37 151 37.87

Argentina LAM 117 -25 46.58 153 43.83 124 44.54 75 51.78

Gabon AF 118 -17 46.41 105 49.12 99 50.97 141 39.92

Papua Neu Guinea OC 119 -6 46.21 144 45.15 125 44.32 89 49.29

Honduras LAM 120 -12 45.95 130 46.61 113 47.86 126 43.48

Algeria AF 121 2 45.73 74 51.91 144 40.16 111 45.88

Madagascar AF 122 -15 45.61 136 45.37 116 47.13 122 44.37

Tanzania AF 123 -4 45.52 162 42.35 91 52.59 130 42.34

Liberia AF 124 18 45.49 47 57.32 136 41.92 146 39.16

Iraq AS 125 0 45.34 96 50.03 151 36.57 79 50.94

Kenya AF 126 17 45.14 124 47.53 129 43.80 124 44.18

India AS 127 4 45.06 131 46.58 126 43.99 119 44.64

Laos AS 128 2 44.45 129 46.62 134 42.11 117 44.73

Swaziland AF 129 -5 44.26 102 49.31 85 55.51 168 31.68

Country Conti-nent

Index Economic Political-legal Socio-cultural

Conditions

Rank Change Value Rank Value Rank Value Rank Value

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Egypt AF 130 -19 44.17 101 49.33 135 41.94 132 41.64

Sao Tome and Principe AF 131 -4 43.97 149 44.20 103 50.25 148 38.27

Burkina Faso AF 132 -10 43.94 104 49.15 105 50.01 165 34.50

Djibouti AF 133 29 43.92 154 43.79 109 49.30 145 39.24

Bangladesh AS 134 0 43.69 95 50.16 148 38.45 128 43.26

Tajikistan AS 135 -2 43.16 112 48.25 155 33.93 91 49.13

Bolivia LAM 136 -4 42.62 159 42.88 142 40.43 118 44.67

Mali AF 137 4 41.87 126 47.28 130 43.41 160 35.77

Côte d’Ivoire AF 138 9 41.86 122 47.71 132 42.86 158 35.87

Haiti LAM 139 15 41.75 161 42.75 147 38.49 123 44.24

Lesotho AF 140 -5 41.44 145 44.97 80 56.59 170 27.96

Uzbekistan AS 141 -2 41.38 121 47.80 165 28.33 67 52.33

Malawi AF 142 -13 41.19 170 36.40 101 50.56 150 37.97

Pakistan AS 143 2 41.15 82 51.22 157 33.11 135 41.08

Cameroon AF 144 14 41.13 147 44.54 149 37.47 131 41.68

Ethiopia AF 145 10 40.89 113 48.24 153 35.59 143 39.81

Niger AF 146 -10 40.87 152 43.91 127 43.88 162 35.44

Burundi AF 147 -1 40.44 139 45.33 143 40.19 156 36.30

Mauritania AF 148 4 40.38 168 38.70 131 43.06 144 39.50

Gambia AF 149 -12 40.16 173 31.25 94 51.81 140 40.01

Togo AF 150 -1 40.14 150 44.08 145 38.83 152 37.78

Nigeria AF 151 2 39.98 111 48.31 159 32.76 138 40.37

Nepal AS 152 -4 39.44 107 48.66 158 32.95 149 38.26

Turkmenistan AS 153 13 39.23 151 44.03 162 30.77 121 44.55

Guinea AF 154 7 39.09 165 41.34 152 35.94 139 40.19

Myanmar AS 155 12 39.03 163 42.33 161 31.04 115 45.26

Comoros AF 156 9 38.46 169 37.64 137 41.70 157 36.26

Yemen AS 157 -19 38.46 157 43.26 150 36.80 161 35.73

Sierra Leone AF 158 -7 38.37 133 45.92 115 47.20 173 26.07

Afghanistan AS 159 13 38.36 143 45.15 164 29.48 129 42.40

Equatorial Guinea AF 160 -16 38.33 117 48.05 156 33.76 164 34.73

Angola AF 161 -1 38.00 155 43.79 146 38.62 167 32.44

Libya AF 162 -3 37.59 80 51.47 173 20.60 84 50.11

Iran AS 163 -13 36.86 134 45.64 168 24.50 116 44.79

Rep. Congo AF 164 -8 36.76 167 41.21 160 32.09 153 37.56

Mozambique AF 165 -25 36.18 146 44.56 112 48.03 174 22.13

Guinea-Bissau AF 166 -3 35.80 160 42.78 163 30.39 163 35.29

Chad AF 167 1 34.65 158 43.22 154 34.60 171 27.83

Venezuela LAM 168 -11 34.39 171 35.58 171 23.63 97 48.39

Zimbabwe AF 169 2 33.72 164 42.26 170 23.68 147 38.32

Eritrea AF 170 0 32.33 174 30.49 167 26.69 133 41.51

Central African Rep. AF 171 -7 32.01 166 41.24 166 28.23 169 28.18

Dem. Rep. Congo AF 172 2 31.11 142 45.17 169 24.02 172 27.74

North Korea AS 173 0 30.77 69 52.77 174 11.95 110 46.18

Sudan AF 174 -5 28.54 172 31.91 172 21.75 166 33.50

* OECD member countries; AF=Africa, AS=Asia, EU=Europe, LAM=Latin America, NAM=North America, OC=Oceania.

Country Conti-nent

Index Economic Political-legal Socio-cultural

Conditions

Rank Change Value Rank Value Rank Value Rank Value

IMPRESSUM

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