The World Economic Forum has released the Global Competitiveness Report for the current year. Switzerland tops the list for the fourth successive year followed by Singapore, Finland and Sweden. Among the other nations Germany is 6th, United States is 7th and Japan is 10th in the ranking of the top 10 most competitive economies. In the West Asia region, Qatar leads at 11th rank while Saudi Arabia is at number 18. UAE has improved its performance to climb up to 24th rank while Kuwait has declined to 37th rank.India is placed 59th in the overall rankings two positions below its earlier ranking. The report says that the large emerging market economies of BRICS displayed different performances. Despite a slight decline in the rankings China continues to lead the group at 29th place. Only Brazil has moved up to 48th position this year while India ,South Africa and Russia had a small decline in rankings.