Australian competitiveness gets noticed

Australia has rated well in a study of the world's most competitive countries, Smart Company reports.

The World Competitiveness Yearbook, which is compiled by international business school IMD, ranked Australian seventh in its competitiveness table.

The position is an improvement on last year's listing which ranked Australia as the world's 12th most competitive country.

In addition to competitiveness, the nation was recognised for its resilience to economic cycles, political stability, education standards and awareness of socio-economic reform requirements.