Germany ranks fourth among most innovative industrial and emerging countries: study

Germany ranks fourth among the world's most innovative countries, a study published by the Federation of German Industries (BDI) on Monday found.

According to the annual study, Switzerland again took first place in the ranking ahead of Singapore and Belgium.

The study conducted by the Fraunhofer Institute for Systems and Innovation Research (ISI) together with the Centre for European Economic Research (ZEW) compares the conditions for innovation in the fields of economy, science, education, state, and society.

"Germany is not the leader in any of the five categories," BDI noted. "A downward trend in German innovation dynamics has continued since 2014." However, Germany had only ranked 10th back in 2000 when the study was first conducted.

"Weaknesses are emerging in innovation-driven competition," according to the BDI. In comparison with smaller countries, Germany lacked an open-mindedness towards technologies from other countries.

However, technologies from other countries would "create incentives for innovation in the domestic competition", BDI noted.

"Germany's innovation dynamics are threatening to slip into midfield," said BDI President Dieter Kempf. "We all have to work for more openness to technology in order to remain competitive."

(ASIA PACIFIC DAILY)