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Wednesday, 25 January 2017 19:06

Kazakhstan among world's 50 most innovative economies

Kazakhstan is ranked 48th with total score of 45,56 in the 2017 Bloomberg Innovation Index, Kazinform correspondent reports [KAZINFORM].

Kazakhstan climbed two spots up compared to last year when it was placed 50th. It should be noted that Kazakhstan is the only Central Asian country featured into the list of the world's most innovative economies.

Bloomberg compiles the list using the following factors: research and development expenditure, manufacturing value-added, GDP and GNI per employed person, number of domestically domiciled high-tech public companies, total enrollment in tertiary education, professionals engaged in R&D per million population and patent activity.

As in 2015, South Korea continues to top the rankings. Coming in 2nd is Sweden that elbowed aside Germany ranked 3rd. Switzerland and Finland are placed 4th and 5th accordingly. It is worth noting that Nordic nations dominate the top 15. The U.S. slid one spot down to №9. Russia plummeted 14 spots down to №26. Turkey also fell to №37.