Central regions | Technology & innovation

Russia falls in innovative countries ranking, driven by sanctions and recession

18 Jan '17
Russia fell 14 spots to #26 in the latest Bloomberg Innovation Index, a ranking of the worlds top-50 innovative economies, released yesterday.

The fall was driven by declines in manufacturing value-added (from #27 to #48), productivity (from #18 to #42) and high-tech density (from #8 to #24). Russia showed no improvement from last year in R&D intensity (#31) or researcher concentration (#27) and fell one slot in patent activity (#16). Russias best ranking is in total enrollment in tertiary education, where it placed at #3 for the second straight year.

Russias decline in the rankings was by far the largest fall among any country in the top-50 (Japan and Croatia each fell 3 spots), analysts at the US-Russia Business Council (USRBC) emphasized.

South Korea rose to the top spot in this years rankings, followed by Sweden, Germany, Switzerland, and Finland. The United States fell one spot to #9.

Among the BRICS, China ranked #21 (with Hong Kong at #35), while Brazil was #46. India and South Africa were not ranked among the top-50 innovative economies. With Russias decline in the rankings, China was the highest-ranked emerging market economy.

Bloomberg attributed Russias steep decline to sanctions and the recession, noting that Russias solid scores last year in manufacturing and productivity were destroyed in this years tally.
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Tags: ranking (25) / Bloomberg Innovation Index (1) / innovative economies (0) /

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