Germany number one in the Bloomberg Innovation Index

Germany has taken first place in the Bloomberg Innovation Index 2020, beating out South Korea which had topped the list for six years consecutively. On three measures alone – value added by manufacturing, the number of high-tech companies and number of patents – Germany was able to place among the top five. Germany and South Korea were followed by Singapore, Switzerland, Sweden, Israel, Finland and Denmark in the overall ranking. The United States only made it to ninth place, followed by France, Austria and Japan. China was ranked at 15th place. The winners in the ranking include Slovenia, which rose up ten places to 21st place, and Chile, which jumped seven places to its current position at 51. Losing the most places was New Zealand, which fell by five to 29th place. Of the 20 listed companies with the greatest research and development expenditure, led by Amazon, Alphabet and Microsoft, half come from the United States. Germany follows with Volkswagen, Daimler, Siemens and Bayer. This is the eighth release of the Bloomberg Index, which investigates how innovative different economies are. It is based on numerous criteria and metrics, including research and development expenses, production capacity and the number of public companies in the high-technology sector.

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