Finland is ranked the 3rd most innovative country in the world – Bloomberg Innovation Index 2019

Finland is ranked the 3rd most innovative country in the world in Bloomberg Innovation Index 2019. Finland was among the biggest winners of this year’s index, moving up four places to 3rd spot from last year.

South-Korea and Germany took the top spots respectively while the US (8th) moved up eight places to retain its place in the top 10 after a year’s absence.

Finland and Sweden were among the only Nordic countries make the top 10. Sweden, however, took the biggest hit, dropping five places to 7th while Denmark, Norway and Iceland were 11th , 17th and 23rd respectively.

Finland excels in categories of Productivity and Patent Activity

In this year’s Index, Finland ranks in the top 10 in five of the seven categories: Productivity and Patent Activity (both 5nd), Research Concentration (8th), and R&D Intensity and Tertiary Efficiency (both 9th). In Manufacturing Value-added (16th) and High-tech Density (13th) however, Finland still lags behind the top countries. This makes Finland one of the steadiest performers of the index, scoring good points in all categories but not reaching the top 3 in any.

Bloomberg Innovation Index 2019 analysed dozens of criteria and used seven metrics to measure the innovation performance of over 200 countries. The final ranking includes sixty nations.

The Bloomberg index strengthens Finland's status as a global innovation leader. Finland was ranked 7th in Global Innovation Index 2018.

Bloomberg Innovation Index 2019 Top 10:

1. South-Korea (no. 1 in 2018)
2. Germany (4)
3. Finland (7)
4. Switzerland (5)
5. Israel (10)
6. Singapore (3)
7. Sweden (2)
8. United States of America (11)
9. Japan (6)
10. France (8)

Source: Bloomberg