SAO PAULO, Dec 14: Brazil ranks near the bottom among 14 emerging powers in terms of competitiveness, due to high capital and labour costs as well as inadequate infrastructure, according to a study published on Friday.

The study, commissioned by the National Confederation of Industry (CNI) and published by the Folha de Sao Paulo daily, put Brazil in 13th place ahead only of Argentina among 14 countries with similar socio-economic characteristics.

Canada ranked first, followed by South Korea, Australia, China, Spain, India, Chile, South Africa, Poland, Russia, Colombia and Mexico. The study indicated that there was no improvement in Brazil’s standing since a similar survey done in 2010.

The world’s sixth largest economy, which is currently showing anaemic growth, fared worst in the area of labour and capital costs, infrastructure and transport, and macro-economic environment.

Folha quoted Renato da Fonseca, CNI executive-manager, as saying that this explains why Brazilian industry is losing markets abroad.—AFP