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Russia lost 14 spots in the innovation economies rating

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Russia lost 14 spots in the innovation economies rating

This year’s Bloomberg Innovation Index called Russia the biggest loser, plunging 14 spots from the 12th to 26th, between Island and Hungary. Bloomberg analysts stressed that the impact of sanctions and the after-effects of a couple years of subdued energy prices, destroyed Russia’s solid scores in manufacturing and productivity last year.

The leader of the rating is South Korea, Sweden to follow.

The top-50 of the rating included such countries of the former USSR as Lithuania (32nd), Estonia (33d), Latvia (39th),Ukraine (42nd) and Kazakhstan (48th).

Russia lost 14 spots in the innovation economies rating

The U.S. fell one spot to the 9th spot, while Israel moved up to No. 10. China held its title as the strongest-ranked emerging market, at No. 21.

The ranking is performed based on 7 indices: R&D expenses, productivity, high-tech companies’ presence in the economy, higher education currency, manufacturing added value, the number of patents registered and the number of researchers.

To remind you, in 2015 Russia was on the 14th spot, in 2016 – the 12th.

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