Iran jumps to 47th in Bloomberg Innovation Index 2019

January 29, 2019

TEHRAN – Iran has moved up two points to 47th place on Bloomberg Innovation Index 2019 report which was published on January 22.

With the score of 52.06 out of 100, Iran claimed 47th place among 60 economies. 

The 2019 ranking process began with more than 200 economies. Each was scored on a 0-100 scale based on seven equally weighted categories. Nations that didn’t report data for at least six categories were eliminated, trimming the total list to 95. Bloomberg publishes the top 60 economies.

Iran ranks 13 in Patent index. Its Tertiary Efficiency is 23 and its rank in both Manufacturing Value-Added and Productivity indexes is 48. 

For its high-tech density, Iran stood at 40th place. Iran’s rank for researcher concentration is 53 and for R&D intensity is 60.

According to the Bloomberg website, South Korea retained the global crown in the 2019 Bloomberg Innovation Index, though improvements by Germany in research and education brought Europe’s largest economy to near-parity in the annual ranking.

The U.S. moved up to eighth place, a year after cracks in education scores pushed it out of the top 10 for the first time.
The annual Bloomberg Innovation Index, in its seventh year, analyzes dozens of criteria using seven metrics, including research and development spending, manufacturing capability and concentration of high-tech public companies.

The ranking comes as global elites gather at this week’s annual World Economic Forum in Davos, Switzerland, where they will discuss the future of globalization, the role of the state and how innovation propels countries forward.

Among 2019’s ranked economies, the biggest losers were Tunisia and Ukraine, which both fell out of the top 50. Ten economies joined the ranking in 2019 as more reliable data became available.

The United Arab Emirates made the highest debut in 46th place. Brazil rejoined the index in the 45th spot after not being ranked last year. Also among the new entrants are some of the world’s largest emerging economies: India, Mexico, Vietnam and Saudi Arabia. South Africa remains the only Sub-Saharan nation to be ranked.

SB/MQ/MG