Plunging 14 spots, Russia now ranks 26th in Bloomberg’s Innovation Index, being named “the biggest loser in this year’s” edition.
According to the news agency, the country’s last year solid scores in manufacturing and productivity were “destroyed” largely due to sanctions and the after-effects of low energy prices.
First rated last year Kazakhstan gained 2 spots this year; while Ukraine lost one spot and now ranks 42th. Other post-Soviet states are not present in top 50.
South Korea held its title in first place, followed by Sweden, Germany, Switzerland and Finland.
In drawing up the agency’s ratings of World’s Most Innovative Economies, analysts take into account seven factors, including research and development spending, manufacturing value-added, productivity, concentration of high-tech, tertiary efficiency, researcher concentration, and patent activity.
The US fell one spot to rank 9th; while China rests 21th.
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