Ireland drops place to 16th on innovation index

Average scores in R&D intensity, researcher concentration and patent activity led to fall

Ireland outperformed other predominantly English-speaking economies such as  Canada, the UK, Australia and New Zealand on the Bloomberg index

Ireland outperformed other predominantly English-speaking economies such as Canada, the UK, Australia and New Zealand on the Bloomberg index

 

Ireland has dropped one place to 16th in Bloomberg’s 2017 innovation index.

South Korea retained first place, topping the international charts in R&D intensity, value-added manufacturing and patent activity, and with top-five rankings in high-tech density, higher education and researcher concentration.

Ireland ranked in second place for value-added manufacturing and in sixth place for productivity. The country recorded average scores for patent activity, researcher concentration and R&D intensity. However, Ireland still outperformed other predominantly English-speaking economies like Canada, the UK, Australia and New Zealand.

Nordic economies performed well, with Sweden taking second place in the index thanks to an improvement in its manufacturing value-added metric.

Neighbour Finland jumped two spots to finish fifth due to due to an increase in the number of high-tech firms in the State. Norway held on to 14th place.

Biggest loser

Russia

Japan, where the yen is still struggling to recover from an almost two-year slide, dropped the most of any economy in the top 25, moving to number seven from 4th place as they lost their best-in-world distinction for patent activity.

The US fell one spot to ninth place, while Israel moved up one notch to number 10. China held its title as the strongest-ranked emerging market, at number 21, as it improved its tertiary education score while its high-tech concentration wavered.

Category scores

The worst performers in this year’s index were Kazakhstan, Argentina and Morocco. – Additional reporting: Bloomberg