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25 most innovative economies in the world
There are some countries that encourage innovation, risk-taking and entrepreneurship, while there are some that don't put much emphasis on innovation.
Let's take a look at most innovative nations.
Source: Bloomberg Visual Data
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25 most innovative economies in the world
United States
Total score: 89.5 per cent
Rank on R&D intensity: 9
Rank on productivity: 3
Rank on high-tech density: 1
Rank on researcher concentration: 10
Rank on manufacturing capability: 52
Overall rank in innovation: 1
United States, which has a per capita income of $52,839, is ranked best when it comes to innovation.
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25 most innovative economies in the world
South Korea
Total score: 82.3 per cent
Rank on R&D intensity: 5
Rank on productivity: 33
Rank on high-tech density: 3
Rank on researcher concentration: 8
Rank on manufacturing capability: 3
Overall rank in innovation: 2
South Korea, which has a per capita income of $33,156, is ranked second when it comes to innovation.
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25 most innovative economies in the world
Germany
Total score: 81.1 per cent
Rank on R&D intensity: 8
Rank on productivity: 7
Rank on high-tech density: 4
Rank on researcher concentration: 17
Rank on manufacturing capability: 23
Overall rank in innovation: 3
Germany, which has a per capita income of $39,468, is ranked third when it comes to innovation.
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25 most innovative economies in the world
Finland
Total score: 80.2 per cent
Rank on R&D intensity: 2
Rank on productivity: 14
Rank on high-tech density: 11
Rank on researcher concentration: 1
Rank on manufacturing capability: 31
Overall rank in innovation: 4
Finland, which has a per capita income of $36,395, is ranked fourth when it comes to innovation.
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25 most innovative economies in the world
Sweden
Total score: 79.1 per cent
Rank on R&D intensity: 3
Rank on productivity: 11
Rank on high-tech density: 6
Rank on researcher concentration: 7
Rank on manufacturing capability: 49
Overall rank in innovation: 5
Sweden, which has a per capita income of $36,395, is ranked fifth when it comes to innovation.
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25 most innovative economies in the world
Japan
Total score: 76.0 per cent
Rank on R&D intensity: 4
Rank on productivity: 21
Rank on high-tech density: 20
Rank on researcher concentration: 6
Rank on manufacturing capability: 15
Overall rank in innovation: 6
Japan, which has a per capita income of $37,135, is ranked sixth when it comes to innovation.
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25 most innovative economies in the world
Singapore
Total score: 75.4 per cent
Rank on R&D intensity: 11
Rank on productivity: 20
Rank on high-tech density: 16
Rank on researcher concentration: 4
Rank on manufacturing capability: 10
Overall rank in innovation: 7
Singapore, which has a per capita income of $61,046, is ranked seventh when it comes to innovation.
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25 most innovative economies in the world
Austria
Total score: 75.0 per cent
Rank on R&D intensity: 10
Rank on productivity: 9
Rank on high-tech density: 14
Rank on researcher concentration: 15
Rank on manufacturing capability: 29
Overall rank in innovation: 8
Austria, which has a per capita income of $42,408, is ranked eighth when it comes to innovation.
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25 most innovative economies in the world
Denmark
Total score: 73.3 per cent
Rank on R&D intensity: 6
Rank on productivity: 12
Rank on high-tech density: 18
Rank on researcher concentration: 3
Rank on manufacturing capability: 66
Overall rank in innovation: 9
Denmark, which has a per capita income of $37,657, is ranked ninth when it comes to innovation.
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25 most innovative economies in the world
France
Total score: 72.3 per cent
Rank on R&D intensity: 14
Rank on productivity: 6
Rank on high-tech density: 8
Rank on researcher concentration: 18
Rank on manufacturing capability: 73
Overall rank in innovation: 10
France, which has a per capita income of $35,680, is ranked 10th when it comes to innovation.
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25 most innovative economies in the world
The Netherlands
Total score: 72.2 per cent
Rank on R&D intensity: 18
Rank on productivity: 4
Rank on high-tech density: 5
Rank on researcher concentration: 26
Rank on manufacturing capability: 60
Overall rank in innovation: 11
The Netherlands, which has a per capita income of $41,447, is ranked 11th when it comes to innovation.
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25 most innovative economies in the world
Ireland
Total score: 71.5 per cent
Rank on R&D intensity: 21
Rank on productivity: 8
Rank on high-tech density: 19
Rank on researcher concentration: 21
Rank on manufacturing capability: 7
Overall rank in innovation: 12
Ireland, which has a per capita income of $43,592, is ranked 12th when it comes to innovation.
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25 most innovative economies in the world
Norway
Total score: 71.2 per cent
Rank on R&D intensity: 20
Rank on productivity: 2
Rank on high-tech density: 13
Rank on researcher concentration: 5
Rank on manufacturing capability: 81
Overall rank in innovation: 13
Norway, which has a per capita income of $55,398, is ranked 13th when it comes to innovation.
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25 most innovative economies in the world
Russia
Total score: 69.6 per cent
Rank on R&D intensity: 29
Rank on productivity: 41
Rank on high-tech density: 2
Rank on researcher concentration: 24
Rank on manufacturing capability: 38
Overall rank in innovation: 14
Russia, which has a per capita income of $18,083, is ranked 14th when it comes to innovation.
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25 most innovative economies in the world
Belgium
Total score: 69.1 per cent
Rank on R&D intensity: 15
Rank on productivity: 5
Rank on high-tech density: 15
Rank on researcher concentration: 20
Rank on manufacturing capability: 55
Overall rank in innovation: 15
Belgium, which has a per capita income of $37,883, is ranked 15th when it comes to innovation.
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25 most innovative economies in the world
Luxembourg
Total score: 68.5 per cent
Rank on R&D intensity: 22
Rank on productivity: 1
Rank on high-tech density: 12
Rank on researcher concentration: 9
Rank on manufacturing capability: 84
Overall rank in innovation: 16
Luxembourg, which has a per capita income of $79,785, is ranked 16th when it comes to innovation.
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25 most innovative economies in the world
Canada
Total score: 67.9 per cent
Rank on R&D intensity: 16
Rank on productivity: 15
Rank on high-tech density: 25
Rank on researcher concentration: 11
Rank on manufacturing capability: 67
Overall rank in innovation: 17
Canada, which has a per capita income of $43,146, is ranked 17th when it comes to innovation.
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25 most innovative economies in the world
United Kingdom
Total score: 67.0 per cent
Rank on R&D intensity: 19
Rank on productivity: 13
Rank on high-tech density: 23
Rank on researcher concentration: 16
Rank on manufacturing capability: 69
Overall rank in innovation: 18
United Kingdom, which has a per capita income of $37,299, is ranked 18th when it comes to innovation.
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25 most innovative economies in the world
Slovenia
Total score: 66.9 per cent
Rank on R&D intensity: 17
Rank on productivity: 23
Rank on high-tech density: 34
Rank on researcher concentration: 19
Rank on manufacturing capability: 19
Overall rank in innovation: 19
Slovenia, which has a per capita income of $28,195, is ranked 19th when it comes to innovation.
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25 most innovative economies in the world
Iceland
Total score: 66.4 per cent
Rank on R&D intensity: 12
Rank on productivity: 16
Rank on high-tech density: N/A
Rank on researcher concentration: 2
Rank on manufacturing capability: 54
Overall rank in innovation: 20
Iceland, which has a per capita income of $39,223, is ranked 20th when it comes to innovation.
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25 most innovative economies in the world
Switzerland
Total score: 64.8 per cent
Rank on R&D intensity: 7
Rank on productivity: 17
Rank on high-tech density: 10
Rank on researcher concentration: 22
Rank on manufacturing capability: N/A
Overall rank in innovation: 21
Switzerland, which has a per capita income of $45,999, is ranked 21st when it comes to innovation.
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25 most innovative economies in the world
Australia
Total score: 64.2 per cent
Rank on R&D intensity: 13
Rank on productivity: 10
Rank on high-tech density: 37
Rank on researcher concentration: 14
Rank on manufacturing capability: 80
Overall rank in innovation: 22
Australia, which has a per capita income of $43,042, is ranked 22nd when it comes to innovation.
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25 most innovative economies in the world
The Czech Republic
Total score: 62.5 per cent
Rank on R&D intensity: 24
Rank on productivity: 30
Rank on high-tech density: 26
Rank on researcher concentration: 28
Rank on manufacturing capability: 11
Overall rank in innovation: 23
The Czech Republic, which has a per capita income of $27,190, is ranked 23rd when it comes to innovation.
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25 most innovative economies in the world
Italy
Total score: 61.3 per cent
Rank on R&D intensity: 28
Rank on productivity: 19
Rank on high-tech density: 22
Rank on researcher concentration: 34
Rank on manufacturing capability: 36
Overall rank in innovation: 24
Italy, which has a per capita income of $29,598, is ranked 24th when it comes to innovation.
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25 most innovative economies in the world
Portugal
Total score: 60.4 per cent
Rank on R&D intensity: 23
Rank on productivity: 34
Rank on high-tech density: 27
Rank on researcher concentration: 13
Rank on manufacturing capability: 57
Overall rank in innovation: 25
Portugal, which has a per capita income of $22,930, is ranked 25th when it comes to innovation.