Monday, May 27, 2024

PH drops to 59th place in 2022 Global Innovation Index

From last year’s 51st rank, the Philippines slumped to 59th place in the newly released 2022 Global Innovation Index (GII) which studied 132 economies worldwide.

The Philippines’ Innovation Inputs dipped from 72nd in 2021 to 76th in 2022 and Innovation Outputs from 40th in 2021 to 51st in 2022.

However, the Philippines ranked 5th among the 36 lower-middle-income group economies compared to its 4th place in 2021. The country also ranks 11th among the 17 economies in South East Asia, East Asia, and Oceania, which is the same spot in the 2021 rankings.

“The Philippine rank in the latest Global Innovation Index is a challenge to both the government and private sector to prioritize innovation,” said DOST secretary Renato U. Solidum Jr. 

“Despite the challenges of the pandemic, we at the DOST are fully committed to drive the local industry to succeed through our investments in S&T facilities and laboratory network to support our local industry’s productivity.”

The lower rank in 2022 was largely due to decreased performance score in Knowledge and Technology Outputs which are mainly a function of knowledge creation, knowledge impact, and knowledge diffusion. 

However, the DOST said the Philippines continues to produce more innovation outputs relative to its level of innovation investments.

“In fact, despite this lower performance, the Philippines continues to perform above regional average among its neighboring countries in Southeast Asia, East Asia, and Oceania,” it said.

The GII is an annual ranking of countries by their capacity for, and success in, innovation. According to the WIPO website, the GII tracks the most recent global innovation trends against the background of an ongoing Covid-19 pandemic, slowing productivity growth and other evolving challenges.

It reveals the most innovative economies in the world, ranking the innovation performance of around 132 economies while highlighting innovation strengths and weaknesses.

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