Germany has broken South Korea's six-year reign as the "the most innovative nation in the world," according to the latest Bloomberg Innovation Index. The US ranked ninth, while China came in 15th.
A total of 60 nations are included in the index, which is compiled using criteria including research and development spending, manufacturing capability, and concentration of high-tech public companies.
Innovation was a hot topic this week at the World Economic Forum in Davos, Switzerland, as the political, academic, and business elite discussed technological solutions to the current climate crisis.
Germany secured first place because of its positive ratings in patent activity, high-tech density, and value-added manufacturing. South Korea, on the other hand, recorded a slump in productivity, pushing it down to second place.
The result is somewhat surprising, as Germany's economy has been struggling. In 2019, it grew at its slowest pace in six years due to trade conflicts, a crisis in the automotive industry, and Brexit.