The business news agency Bloomberg compares the innovative strength of various countries every year. In this edition of the "Bloomberg Innovation Index," Germany has ousted South Korea, the leader of the past six years, from first place. Germany scores particularly well in the number of patent applications.
Germany leads the Ranking ahead of South Korea. Third place goes to Singapore, followed by Switzerland, Sweden, Israel, Finland, Denmark, the United States, and France in tenth place. Slovenia made the biggest leap forward compared to the previous year, climbing ten places to 21st place.
The index includes seven factors. Germany performs best in terms of the density of High-tech-companies, patent activity, and value creation in manufacturing. In these three areas, Germany ranks third and fourth.
German service sector performs weakest in Bloomberg ranking
Germany ranks eighth in terms of research and development intensity. With one-third of all spending, the automotive industry accounts for the lion's share of German investments in research and development. The top rankings in this area go to Israel, South Korea, and Switzerland.
Germany, on the other hand, falls outside the top ten in terms of research concentration (11th), productivity (18th) and efficiency in the service sector (26th).
