Focus on Baltic: Global Innovation Index Places Three Baltic Countries on 24th, 34th and 40th Places in A World

The five the most innovative countries in the world are Switzerland, Netherlands, Sweden, United Kingdom and Singapore by Global Innovation Index (GII) that is operating the second decade already.

Latvia vs.Estonia vs.Lithuania

Latvia has gotten place 34th and that is better than Lithuania with 40th place. But Estonia has gotten much higher and it is in 24th place in a world. The weakest points for Latvia have been human capital and research (45th) against Estonian 36th. Infrastructure section Latvia has gotten the 45th place but Estonia – 21st where the most crucial point is online e-participation: where Latvia has only 82nd place and government’s online services 62th, Estonia has 22nd and 13th respectively. Opposite situation is with market sophistication section: Latvia 24th versus Estonian 35th. In this section for example in credit sub-section, Latvia has gotten place 19th versus Estonian 29th. The best section for Latvia in this index looks creative outputs: subsection Creative goods and services Latvia is overall on the 1st place where Estonia – 3rd.

If we compare Latvian and Lithuanian index positions then Lithuania lost on sections Institutions, Market Sophistication, Knowledge and Technology and Creative outputs.

What is GII?

There are 126 countries that are evaluated every year based on innovation efficiency ratio, innovation input and output that is combined with institutional indicators like political stability, a regulatory environment that includes rule of law, regulatory quality, also the business environment with such indicator as how easy is to start business or ease of resolving insolvency. The third section of valuation would be human capital and research where is included education and research analysis. Then comes infrastructure and market, business sophistication sections and of course knowledge, technology, and creative outputs.

The more in-depth information you can see HERE.