CAPTION: Robots produce the body for a fully electric Volkswagen ID.4 vehicle at Volkswagen AG's Emden plant. (icture alliance/dpa)
The German economy is doing better this year compared to 2021, according to the latest United Nations Innovation Country Comparison. Germany moved up from tenth to eighth place, according to the report published by the UN Intellectual Property Organization (WIPO) in Geneva. In particular, the investment climate in Germany was rated better this time.
Switzerland defended its status as the world's most innovative country. It is followed by the United States, Sweden, the United Kingdom, the Netherlands, South Korea, and Singapore. Finland and Denmark occupy ninth and tenth place respectively. In total, the innovative strength of 132 economies was examined on the basis of dozens of criteria.
Germany performed better than in the previous year's index in terms of investment, education, and the development of online products. The UN organization also highlighted that government spending on research and development recently increased in Germany, while it shrank in the US and Japan, for example. However, the political and private-sector framework conditions for innovation in Germany were rated worse than a year ago.
In the report, WIPO expressed concern that productivity was stagnating globally, and that technological progress appeared to be slowing despite growing levels of investment. "Therefore, in the future, we must not only focus on investment, but also pay more attention to how innovation affects the economy and society," said WIPO Director General Daren Tang.
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