Romania on 38th place from 50 in the top most innovative economies of the world

Newsroom 17/01/2017 | 12:15

Romania is placed on the 38th place from 50 in the top of the most innovative economies of the world, while the Northern countries are on the first positions of the Bloomberg Innovation Index, a ranking of economies based on research and development (R&D) expenses and technology companies concentration owned by the state, says Bloomberg.

With a score of 57.06 points, Romania perfoms more poorly compared Greece, on the 30th place, Czech Republic on the 28th place, Hungary on 27th and Poland on 22nd. Romania has the best position, the 14th place on the production indicator with high added value, but it’s on the 49th place for the indicator that measures the GDP percentage allocated for R&D.

The first position of the ranking is occupied, as the last year, by South Korea, with a total score of 89 points, due to the global leader position for the percentage of GDP allocated to R&D, production with high value added and the activity in the patent field. On the second place is Sweden due to the production improvement with added value, followed by Germany and Switzerland, while Finland climbed two placed to the fifth place, due to high-tech firms growth.

The professor Asa Lindholm Dahlstrand from the University from Lund says that in Sweden’s case, the Government financing, especially for the small firms, made the difference in a country dominated by multinational companies. The emphasis on R&D helped Sweden to face the difficult economic periods from the last years.

The country that has the highest loss in this year edition of Bloomberg Innovation Index is Russia, that dropped 14 positions, up to the 26th place. After several years of sanctions and energy prices reduction, Russia’s scores for productivity and production with high value added suffered. Japan dropped from the fourth place to seventh due to the leader position loss in patents field and USA lost a position up to the ninth place.

Georgiana Bendre

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