Back

Finland ranked 5th most innovative country in the world by Bloomberg

Finland ranked 5th most innovative country in the world by Bloomberg

Jan 30, 2017
Energy & resource efficiency
Renewables & smart grid
Bioproducts & materials

Finland again took a top spot in a high-level global innovation ranking. 2017 Bloomberg Innovation Index ranked Finland as the 5th most innovative nation in the world. Finland climbed two positions from last year's list. 

Bloomberg Innovation Index is based on seven categories to do with education, R&D and technology factors. Finland finished in the top 5 in R&D (4th), education (5th), research (3rd), and patents (5th) while in the categories of manufacturing (13th), productivity (20th), and high-tech (15th) Finland still had some ground to cover to reach top positions.  

Nordics in top 10 – Russia plummets

Sweden and Denmark accompany Finland in the Bloomberg top 10, finishing 2nd and 8th respectively. Meanwhile Russia took the worst plummet in the 2017 ranking, dropping 14 places to 26th spot. 

From the world's top 10 economies that made the Bloomberg top 50, Germany is ranked highest at 3rd place, followed by Japan (7th), USA (9th), France (11th), UK (17th), Canada (20th), China (21st), Italy (24th) and Brazil (46st). 

Bloomberg Innovation Index 2017 top 10:

1. South Korea
2. Sweden
3. Germany
4. Switzerland 
5. Finland
6. Singapore
7. Japan
8. Denmark
9. USA
10. Israel

Finland has recently excelled in other high-level national innovation rankings as well. Finland was ranked 5th in Global Innovation Index 2016 and 3rd in 2016 European Innovation Scoreboard.

Source: Bloomberg

Companies in the sector