U.S. back among innovative top 5

Switzerland No. 1 for ninth straight year; China jumps three spots.

— The United UNITED NATIONS

States reclaimed its ranking in the top five countries in the world for economic innovation, while China climbed from 17th to 14th position in the new list of nearly 130 nations released Wednesday.

The Global Innovation Index 2019 released by the U.N. intellectual property agency, one of its co-sponsors, says “innovation is blossoming around the world” despite an economic slowdown, brewing trade battles and high economic uncertainty.

The index keeps Switzerland in the No. 1 spot — a position it has held since 2011 — followed by Sweden, the United States, the Netherlands and Britain. The United States had fallen from fourth place in the 2017 rankings to sixth in 2018.

Israel climbed one spot to enter the top 10 for the first time at No. 10, becoming the first country from the northern Africa and western Asia region to crack the top group. South Korea edged closer to the top 10 at No. 11, up from No. 12.

Now in its 12th edition, the index ranks 129 economies based on 80 indicators, from traditional measurements like research and development investments and international patent and trademark applications to newer indicators including mobile-phone app creation and high-tech exports.

The index is sponsored by the U.N. World Intellectual Property Organization, Cornell University’s SC Johnson College of Business and INSEAD, the graduate school of business with campuses in France, Singapore and Abu Dhabi.

According to the report, China’s continuing rise firmly establishes the country “in the group of leading innovative nations.”

“China’s innovation strengths become evident in numerous areas: It maintains top ranks in patents by origin, industrial designs, and trademarks by origin as well as high-tech net exports and creative goods exports,” the report said.

When comparing levels of innovation to economic development, the report said India, Vietnam, Kenya and Moldova “stand out for outperforming on innovation relative to GDP for the ninth consecutive year — a record.” Other economies outperforming in innovation relative to their GDP include Costa Rica, Thailand, Georgia, the Philippines, Burundi, Malawi and Mozambique, it said.

The report singled out India, ranked No. 52, for continuing to be the most innovative economy in central and southern Asia.