RIGA - In the latest Global Innovation Index, Latvia ranks 34th which is a better result than Lithuania's 38th place but below Estonia which has been recognized as the 24th most innovative country in the world.
Compared to last year’s ranking, Latvia and Estonia have remained in the same positions and Lithuania has climbed two notches in the Global Innovation Index.
Providing 80 detailed metrics for 129 economies, the Global Innovation Index evaluates innovation-influencing factors like the political environment, education, infrastructure and business development.
Out of seven innovation input and output sub-indices, Latvia received the best score in Creative Outputs where it ranked 22th in the world. Latvia was ranked 32nd in Institutions, 40th in Market Sophistication and 41st in Business Sophistication. Latvia has ranked 44th in Human Capital and Research, 45th in Knowledge and Technology Outputs and 51th in Infrastructure.
Switzerland, which tops the Global Innovation Index since 2011m has been found to be the most innovative country in the world also this year, followed by Sweden, the US, the Netherlands, the UK, Finland, Denmark, Singapore, Germany and Israel.
The countries at the bottom of the index include Zambia, Guinea, Togo, Niger, Burundi and Yemen.
The Global Innovation Index 2019 is the 12th edition of the Global Innovation Index which is the result of a collaboration between Cornell University (U.S.), INSEAD graduate business school (France), and the World Intellectual Property Organization (WIPO).