Russia has lost 14 positions in the ranking of countries with the innovation economy

In “innovation 2017 rating” Russia has lost 14 positions and was on the 26-th place between Iceland and Hungary. Bloomberg called Russia “the main loser of the year”. The experts noted that the effect of sanctions and falling oil prices “virtually destroyed all the achievements of recent years.”

Last years Russia has improved its position in the ranking. So, in 2015, she was ranked in 14th place in 2016 – 12th.

The leader of the ranking remained South Korea. It is followed by Sweden, Germany. Bloomberg analysts say that although the Swedish authorities raised taxes for business, residents themselves are very individualistic and keen to move on and get rich at the expense of putting forward new ideas.

From former USSR countries in the Top 50 rankings were Lithuania (32nd place), Estonia (33rd), Latvia (39th), Ukraine (42nd) and Kazakhstan (48-e).

The Bloomberg innovation index is based on evaluations of the seven indicators: expenditures on R & d, productivity, presence in the economy of high-tech companies, the prevalence of higher education, the added value of products, number of registered patents and the number of researchers.