OSLO, May 29 (Xinhua) -- A recent international ranking showed that Norway's competitiveness was weakened due to, among other things, large decline in population growth, high electricity prices and consumer inflation, news agency NTB reported Wednesday.
The ranking of the world's 63 most competitive economies was conducted by the Swiss business school IMD and was divided into four main categories: economic performance, public sector efficiency, business efficiency and infrastructure.
Compared to last year's results, Norway fell from the eighth to the eleventh place on the list. According to IMD, Nordic countries have not made any significant progress this year, despite traditionally being very competitive.
While Denmark fell to the eighth place from the sixth place in 2018, Sweden kept the ninth place. Finland is ranked the 15th in 2019, from the 16th place the year before.
Norway showed better results in all subcategories related to economic results and went up from 40th in 2018 to 32nd place this year.
Nordic countries generally do well in the category of infrastructure, which includes living conditions, transport, technological developments and health services. Norway took seventh place in this category, NTB reported.