FX.co ★ Top 10 innovative countries of the world

The 10th place – Israel (80.64 points)

Israel ranks among the most economically developed countries of South-West Asia. Based on the number of reformed companies, it takes the second place in the world after the US. About 70 Israeli companies are in constant turnover of the major NASDAQ IT exchange. In addition, the country is a leader on the protection technologies development of water resources and geothermal energy.

The 9th place – France (80.75 points)

For several decades France has been stably included into the world's top 10 European countries in terms of the economy's total size taking the second place in the European Union (after Germany). Furthermore, this highly developed country is one of the leading nuclear and space-faring nations.

The 8th place - Denmark (81.28 points)

Despite a rather modest reserve of natural resources, the economic system of Denmark is one of the most stable in Europe and is on the first place in the world in terms of foreign trade turnover per capita. A large part of the labor and economic market is occupied by the services sector. Denmark has a balanced state budget and low inflation. Stability of the national currency and low interest rates also provide it with a worthy place in the region. Nevertheless, the country relies almost entirely on human resources and largely depends on imported raw materials and foreign trade.

The 7th place – Finland (81.46 points)

Finland is known for a higher degree of political stability, the openness of the economy, well-developed infrastructure, and reliable telecommunications. The interaction between enterprises, scientific and technical centres, and universities is at the appropriate level.

In addition, the competitiveness of this highly industrialized country are ensured by fast absorption of new technologies, a high level of education of the population, and a business-friendly climate.

The 6th place – Japan (81.91 points)

Banking services, insurance, estate property, transport, retail trade, telecommunications, and construction play a significant role in the economy of Japan, one of the most developed country of the world.

The share of large-size production capacities is rather high: there are several major producers of motor vehicles, electronics, machine units, steel, watercrafts, chemical materials, textile, and food products. The service sector accounts for about 75% of GDP.

The 5th place – Switzerland (82.34 points)

With almost complete absence of any minerals, Switzerland has been and remains a highly developed industrial country with intensive high-productive agriculture. The level of competitiveness of the economy is highly valued by western experts, making Switzerland one of the top ten European countries on the indicator.

Swiss economy is closely dependent on the threads of production cooperation and foreign trade transactions with the EU countries: about 80%-85% of Switzerland's turnover accounts for the EU states.

The 4th place – Germany (82.53 points)

Germany takes the fourth position in the rating, but the country's available capacity can lead it to the top three world leaders in the very near future.

Being a world leader in terms of a number of industrial and technological indicators, Germany takes the third place in thw world in terms of exports and imports. The level of economic development of the country is characterized by high dynamic. The social standard of living is also high.

The 3rd place – Singapore (83.05 points)

The leading export items of Singapore are appliance electronics, software, and pharmaceutical products that makes the country the largest commercial power in the Asia-Pacific region. Transnational corporations play important role in the country's ecomony. The level of taxation in Singapore is attractively low.

The 2nd place – Sweden (84.70 points)

In this relatively low-populated country, there are 50 world known companies – ABB, Atlas Copco, Oriflame, Saab AB, Saab Automobile AB, Scania, Volvo, Volvo Trucks, Ericsson, TELE2, AB Electrolux, TetraPak, Alfa Laval, SKF, and H&M.

Bearing production is a trademark of the country. Along with a high level of innovations and well-developed and constantly upgraded infrastructure, Sweden manufactures great technology, is famous for its well-educated staff which is fluent in the English language.

The 1st place - South Korea (89.28 points)

The high level of per capita income plays a far from negligible role in the fact that the Republic of Korea is an economically developed state. The chaebol production - large national corporations - plays an important role in the economic growth of the country, as it enjoys high demand throughout the world.

Consumer goods currently occupy the main place in the South Korean economy and are the main export product. This primarily applies to such areas as electronics, textiles, automobiles, as well as the heavy industry sector: shipbuilding and steel production.