Bloomberg Innovation Index 2019: Key Facts
The Bloomberg Innovation Index analyses each country in a range of areas including education, research and development, and manufacturing before coming up with a list of the 60 most innovative countries.
The countries are ranked on the basis of their overall ability to innovate considering seven-equal weighted metrics such as research & development intensity, manufacturing value-added, productivity, high-tech density, tertiary efficiency, researcher concentration, patent activity.
How the Countries are ranked?
The ranking of the various countries under the index are:
- The index is topped by South Korea for the sixth time in a row with a total score of 87.38.
- South Korea is closely followed by Germany, Finland, Switzerland, Israel, Singapore, Sweden, U.S., Japan and France in the top 10.
- The United States has surged back into top 10 this year after it was left behind from the top 10 in 2018 Bloomberg Innovation index.
- China has jumped three places to 16th rank largely due to the surge in patent activity.
- India stands at 54th spot in the Bloomberg Innovation Index with a score of 47.93 out of 100.
India’s ranking under different matrices
India stood at 47th place in research & development intensity, 54th place in manufacturing value-added, 58th place in productivity, 29th place in high-tech density, 51st in tertiary efficiency, 59th in researcher concentration and 36th in patent activity.
Bloomberg Innovation Index published top 60 economies out of 95 economies analysed for the ranking process for the year 2019 based on a score from 0-100 on the basis of seven equal-weighted metrics.
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Month: Current Affairs - January, 2019