Armenia ranks 52nd in the Enabling Trade Index, very high customs rates being the country’s most vulnerable index, according to the World Economic Forum.

Singapore and Hong Kong are the countries most open to trade. They are followed by Denmark, Sweden and Switzerland, with New Zealand climbing five places since last year to take No 6 ranking, said the Swiss-based forum, which organizes the annual meeting of business executives and politicians in Davos.

Among the large economies, Germany is the best performer at 13th, ahead of the United States, which drops by three places to 19th. China (48th) and Brazil (87th) remain stable, while Turkey (62nd), India (84th) and Russia (114th) drop in the ranking.

The index measures institutions, policies and services facilitating the free flow of goods over borders and to destinations, looking at market access, border administration, transport and communications, and business environment.

It combines data from public sources and a survey of business executives, working particularly closely with companies in the logistics and transport sectors.