17 June 2019

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Global development
22 Jan  2019 942

South Korea and Germany are World’s Most Innovative Countries

On the eve of annual World Economic Forum in Davos, Switzerland, Bloomberg has published its seventh Bloomberg Innovation Index.

Research analyzed dozens of criteria using seven metrics, including research and development spending, manufacturing capability and concentration of high-tech public companies.

The Republic of Korea has kept the championship for the sixth year in a row, although it has shown lower scores in patent activity. The second was Germany, which gained extra points on the strength of added-value from manufacturing and research intensity, much of it built around industrial giants such as Volkswagen AG, Robert Bosch GmbH and Daimler AG.

Sweden dropped from second in 2018 to seventh. Israel dramatically improved its position, taking off from 10th to fifth place ahead of Singapore, Sweden and Japan. China, due to patent activity, moved up to rank 16. Although China ranked No. 2 in patent activity on the strength of research and developments from Huawei Technologies Co. and BOE Technology Group, but still lags behind most innovative alums in overall productivity.

The United States, which  flew out of the top ten due to problems in education last year, “rose” to the eighth position.

Great Britain lost to China and rests at 18th position. Tunisia and Ukraine are Innovation Index outsiders as both fell out of the top 50.

Ten economies joined the rating in 2019, providing reliable data for review. India, Mexico, Vietnam and Saudi Arabia were newcomers to the index this year.

The United Arab Emirates debuted at 46th place. Brazil was again in 45th place after it did not provide enough data last year.

 Bloomberg Innovation Index analyzes more than 200 countries, but traditionally unveils only top-60.

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