Ukraine in Global Competitiveness Ratings: a Comparative Analysis

The development of a country is impossible outside world trends, where globalization of the world economic space takes the main role, it exerts its influence on all social processes, strengthens interchange between national economies via international trade and investment flows, innovation, funds, migration and other integration processes; globalization influences and determines the competitiveness level for each country. The article analyzes and defines the competitiveness of the country and the factors which determine it, in order to study the rating points of Ukraine; it compares the competitiveness level of Ukraine and neighboring EU countries; identifies the drawbacks and positive opportunities of the economy, thus to propose measures for increasing the competitiveness of Ukraine in the global economy as a whole. The study has found that state competitiveness strongly depends on its self-efficiency, strives for economic growth in the context of globalization, ensuring the well-being of its citizens through the use of competitive factors. It has been determined that the main factors that can ensure the competitiveness of a country are available resources, geographical location, technological progress, productivity, macroeconomic stability, infrastructure development, use of information and communication technologies and more. The position of Ukraine in the International World Economic Forum ratings has been analyzed through Global Competitiveness Index, accounting the data of neighboring countries - members of the EU. It has been revealed that Ukraine hasn't improved its position in the analyzed rating, which may signify about the absence of effective state policy and reforms that would enhance the country competitiveness. A number of proposals have been formed, the practical implementation of which will ensure the formation and development of an effective competitive economy with further integration into the world economic space.