Denmark is dropping down the league table of international competitiveness, according to a new report from the World Economic Forum (WEF) which places the country at number 9 – a drop of four positions on last year’s figures.

Denmark scores 5.32 in the WEF table, slightly behind countries such as Germany, Japan, Finland and the Netherlands. Switzerland is at the top of the table, with Sweden in second place ahead of Singapore and the United States, which itself has dropped slightly down the list.

The report says that China (27th) continues to lead the way among large developing economies, improving by two more places this year, and solidifying its place among the top 30. Among the three other BRIC economies, Brazil (58th), India (51st) and Russia (63rd) remain stable, the WEF says.

“Policy-makers are struggling with ways of managing the present economic challenges while preparing their economies to perform well in a future economic landscape characterized by uncertainty and shifting balances,” says Klaus Schwab, Founder and Executive Chairman of the World Economic Forum.

“In such a global economic environment, it is more important than ever for countries to put into place the fundamentals underpinning economic growth and development,” he adds.

The WEF table looks at 12 so-called pillars for competitiveness. These are institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labour market efficiency, financial market development, technological readiness, market size, business sophistication, and innovation.

In all, 139 countries are surveyed. Norway is in 14th place and the United Kingdom, after falling in the rankings in recent years has moved up one place to number 12, with Burundi, Angola and Chad at the bottom of the list.