The Philippines ranked 50th out of 63 countries in the 2018 World Competitiveness Yearbook (WCY), down nine notches from last year’s 41st. Over the last half decade, the Philippines’ ranking fluctuated in the low 40s, similarly placing 41st in 2015 and 42nd in 2014 and 2016. Among the 14 Asia-Pacific economies in WCY, the Philippines ranked 13th, down from 11th in 2017. The Philippines’ nine-place decline is the largest drop among countries in the Asia and the Pacific region this year.