June 17, Colombo: Sri Lanka shows a one-position improvement this year ranking 90th in the Global Innovation Index (GII) 2017 with a score of 29.9 in a 0-100 scale, 100 being the most innovative.
The GII measured the performance of 127 countries and economies in the area of innovation, which represents the majority of the global workforce and global GDP.
The 2017 index, co-authored by Cornell University, INSEAD and World Intellectual Property Organization (WIPO) is based on 81 indicators, which measure innovation in detail and provide a clear understanding of how it drives economic growth and prosperity.
Sri Lanka performed poorly in sub-indices of Institutions (111th) Human Capital & Research (105th) while showing strength in Infrastructure (63rd) and Knowledge & Technology Outputs (68th). The country ranked 86th in Market Sophistication sub index, 83rd in Business Sophistication, and 86th in Creative Outputs.
Economies of the Central and Southern Asia region have seen further improvements in their rankings since 2016, with seven economies improving their rankings and with India moving into the top half of the GII this year.
India maintains its top place in the region, moving up six spots from 66th last year to 60th this year overall. Elsewhere in South Asia, Nepal ranked 109th, Pakistan (113th, and Bangladesh ranked 114th.
Switzerland, Sweden, the Netherlands, the US and Britain retained their top spots as the most innovative countries. China improved to the 22nd spot, from 25 last year, while Singapore featured as the seventh most innovative economy.