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Australia Global Competitiveness Rank Climbs on Commodity Surge

Pedestrians cross a road in the central business district in Brisbane, Australia.

Pedestrians cross a road in the central business district in Brisbane, Australia.

Photographer: Tammy Law/Bloomberg

A windfall from surging commodity prices helped lift Australia’s global competitiveness ranking, a survey showed, even as the nation still scored poorly on technology, productivity and entrepreneurship.

Australia advanced three places to 19 out of 63 countries in the Institute for Management Development World Competitiveness Yearbook published Wednesday, having received its lowest ever ranking in 2021. Australia now sits behind Qatar in 18th place in the report, which is partnered locally by the Committee for Economic Development of Australia.