/ Created by Jan Ackermann

Bloomberg Innovation Index: Germany leading in innovation

Top results in value-added manufacturing, high-tech density and patent activity

Düsseldorf, 31.01.2020 – According to the Bloomberg Innovation Index 2020, Germany is the most innovative nation in the world. This means that the Federal Republic has now broken South Korea’s series of successes, in which it was placed first in the ranking for six years in a row, and has relegated the Asian nation to second place. Singapore came in third place. The USA reached ninth place, Japan twelfth and China fifteenth place. The innovation index compiled by the news agency Bloomberg analyzes the innovative strength of around 60 economic nations every year.

This year, Germany achieved top values above all in the areas of value-added manufacturing, high-tech density and patent activity. "The manufacturing sector is still highly competitive and a source for innovation," Carsten Brzeski, chief economist at ING Deutschland, is quoted by the news agency. Germany's performance in this area is still strong and better than the recent economic weakness would suggest.

"German SMEs in particular are highly innovative not only in the manufacturing sector but also in many other industries. This also holds enormous potential for patents, which is far from being exhausted," confirms Jan Ackermann, patent attorney and partner at Cohausz & Florack.

However, Carsten Brzeski also stated to Bloomberg that the lack of innovation in higher education is a growing problem in Germany. "The German government would be well advised to use the ongoing fiscal surplus to invest and safeguard Germany's role as innovator."

Header: JackF - AdobeStock