Japan retained sixth place in this year's global competitiveness rankings, with Switzerland remaining at the top for the seventh consecutive year, the World Economic Forum said in its report Wednesday.
Singapore and the United States placed second and third, respectively, while Germany was fourth and the Netherlands fifth, according to the Global Competitiveness Report 2015-2016.
The Swiss research institute, known for hosting an annual meeting of global leaders in Davos, annually ranks countries in terms of competiveness based on such indicators as business environments, government efficiency and education levels.
Japan had moved up the ranks over the past few years, from 10th in 2012 to sixth in 2014, the position it retained this year.
The report cited strong infrastructure and a healthy workforce as reasons for Japan's competitiveness. Strengthening human capital will be the key for Japan, the report said, adding that its low female labor-force participation shows the country is "failing to use its talent efficiently."
South Korea and China stagnated at 26th and 28th positions, with the latter facing constraints due to rising production costs and an aging population, among other factors, according to the report.