Bangladesh has slipped further to 106th discipline among 133 economies in the Global Innovation Index 2024 after slipping three notches a year in the past, indicating a dinky deterioration in its innovation capabilities.
The 17th version of the index, which ranks economies essentially based mostly fully on their innovation capabilities, became as soon as released the day earlier than this day by the World Mental Property Organisation, a specialised agency of the United Nations.
Bangladesh climbed 14 notches to the 102nd discipline in 2022, earlier than falling to A hundred and fifth the next year. Before that, it had been caught at 116th in the index in the course of 2018-21.
Switzerland with a secure of 67.5 out of 100, ranks first in the GII for the 14th consecutive year, while Sweden and the United States abet 2nd and 3rd positions, respectively. Singapore (4th) moves further into the tip 5, adopted by the United Kingdom (fifth).
With a secure of 19.1, Bangladesh ranked 22nd among the many 38 lower-center-profits community economies and 8th among the many 10 economies in central and southern Asia. The country scored 20.2 in the 2023 index.
In central and southern Asia, India continues to handbook, interesting one location ahead to 39th discipline in GII 2024 from the earlier year, and might be among the many quickest 10-year risers.
In South Asia, the arena’s most populous country became as soon as adopted by Sri Lanka at 89th, Pakistan at 91st and Nepal at 109th.
“In 2023, we saw a decline in R&D expenditures, a low cost in scientific publications, and a scaling support of project capital investments to pre-pandemic ranges,” said World Mental Property Organisation Director Traditional Daren Tang.
The Global Innovation Index includes roughly 80 indicators, grouped into innovation inputs and outputs, the GII goals to capture the multidimensional aspects of innovation.
The innovation input sub-index captures parts of the economy that enable and facilitate modern actions and is grouped into five pillars: establishments, human capital and analysis, infrastructure, market sophistication, and enterprise sophistication.
The output sub-index captures parts of the economy that enable and facilitate modern actions and is split into two pillars: information and technology outputs and inventive outputs.
Bangladesh’s efficiency on the index
The 2024 picture states that “Bangladesh produces more innovation outputs relative to its level of innovation investments.”
The country ranks 114th in innovation inputs which is the similar as closing year. Within the meantime, it ranks 92nd in innovation outputs, down from 89th closing year.
Amongst the seven pillars, Bangladesh ranks the ideal at 86th in infrastructure, 88th in inventive outputs, and 92nd in both market sophistication, and records and technology outputs.
Bangladesh ranks lowest in human capital and analysis (128th), enterprise sophistication (126th) and establishments (108th).
On the opposite hand, the country performs below the lower-center-profits community moderate in establishments, human capital and analysis, market sophistication, enterprise sophistication, information and technology outputs, as highlighted in the picture.
Under the sub-pillars of the seven pillars, the picture highlighted labour productiveness enhance, GDP/unit of energy utilize and loans from microfinance establishments as Bangladesh’s main innovation strengths.
Within the meantime, ICT providers and products imports, expenditure on education, joint project/strategic alliance deals, tertiary inbound mobility and graduates in science and engineering are main the country’s weaknesses.
