Aug 28, 2008, 11:00 GMT
Britain's Queen Elizabeth has fallen 35 places on a list of the world's most powerful women.
The 82-year-old royal is ranked in 58th position on this year's Forbes list after businesswomen involved in finance and oil industries overtook her.
Forbes editor Chana Schoenberger revealed the monarch's lower placing is due to the women she shares global power with and a worldwide economic decline rather than anything damaging the queen has personally done.
Schoenberger said: "This year, we've seen a large number of women affected positively or negatively by the economic downturn."
The ranking is determined by influence, media reach and economic impact.
The highest new entry - in second place - is Sheila Bair, who is the head of bank deposit insurer US Federal Deposit Insurance Corp.
German Chancellor Angela Merkel, who is in charge of Europe's biggest economy, has topped the list for the third year running.
'Harry Potter' author J.K. Rowling, pop superstar Madonna and former British Prime Minister Margaret Thatcher failed to make the list at all this year.
The queen's rise from 46th place to 23rd last year was down to Dame Helen Mirren's portrayal of the monarch in award-winning film 'The Queen' and also the amount of time she spent on the throne.
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