Globally, Indonesia's innovation capacity ranks 32nd.

Economics & Macro

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29/09/2016 11:50 WIB

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Indonesia's innovation capability, according to the 2016-2017 Global Competitiveness Index (GCI) report, rose one rank to 32nd. As listed in the report, this places Indonesia ahead of Thailand, the Philippines, and Vietnam in Southeast Asia. However, Indonesia ranked lower than Malaysia, which was 20th.

Globally, the top five countries with the highest innovation capabilities were Switzerland, the United States, Germany, Japan, and Sweden. Other countries such as Singapore ranked 12th, Taiwan 17th, South Korea 22nd, and China 29th.

Overall, according to the GCI report, Indonesia's competitiveness ranked 41st, a four-rank drop from its 37th position last year. Despite numerous reforms, four other countries—Malta, India, Kuwait, and Azerbaijan—outperformed Indonesia, resulting in this decline.

Several Indonesian economic indicators highlighted by the World Economic Forum include: Indonesia's gross domestic product (GDP) ranked 10th, its macroeconomic pillar ranked 30th, and its innovation ranked 32nd.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."