European Union countries such as Hungary, Poland, Italy, Slovakia, Greece, Romania and Bulgaria are ranked below Croatia.
Singapore and Hong Kong continue to top the rankings and the other top five countries are Denmark, Sweden and New Zealand because of their openness to international business and investments, which is a key part of a successful economic strategy. Their other advantages are a very efficient border administration and a stimulating business environment.
The Enabling Trade Index evaluates the countries covered according to four factors -- market access, border administration, the transport and communications infrastructure, and the business environment.
Croatia was ranked highest, 33rd, according to the transport and communications infrastructure, up five places from the previous report in 2010.
It was ranked 42nd according to market access, down 14 places; 61st according to border administration and 60th according to the business environment, up three places.
Croatia's most problematic factors include exporters' access to financing, inadequate production technology and skills, identification of potential markets and buyers, technical conditions and standards abroad, import procedures, tariff and non-tariff barriers, domestic technical conditions and standards, border corruption, and crime.
NVK president Ivica Mudrinic said it was necessary to step up structural reforms and create sustainable growth by stimulating exports and private sector growth.
As for Croatia's neighbours, Bosnia and Herzegovina was ranked 80th, Serbia 71st, Macedonia 61st, Albania 49th, and Montenegro 39th.