(MENAFN- Morocco World News) Morocco was ranked 48th most innovative country in the world according to the Bloomberg Innovation Index published on Tuesday.
The prestigious New York-based financial group revealed the results of its annual ranking of how innovative countries are. With a score of 48.85 Morocco ranked 48 out of 80 countries in the 2016 index having gained two spots in comparison to 2015 when it closed off the 'top 50' rankings. According to the study Bloomberg bases its methodology on seven criteria: Research & Development Manufacturing value-added Productivity High-tech Density Tertiary Efficiency Researcher Concentration and Patent Activity. Morocco's best performance was in the 'High-tech Density' category where it ranked 33 worldwide thanks to its boom in aerospace defense and renewable energy sectors. The Kingdom's 'Manufacturing value-added' and 'Research & Development' criteria ranked 41 and 42 respectively out of the 'top 50' studied countries. On the lower end the North African country ranked 49 in 'Productivity' 48 in 'Patent activity' and 47 in 'Researcher Concentration' meaning the amount of doctorate students engaged in research. South Korea topped the rankings with a score of 91.31 followed by Germany Sweden Japan and Switzerland. The United States and France made it to the top 10 while the United Kingdom and Spain ranked 17 and 27 respectively. In the MENA region only Israel (11) Turkey (36) Tunisia (46) and Morocco (48) made it to the 'top 50'. Rounding off Bloomberg's innovation index were Argentina in 49 place with a score of 48.82 just below Morocco and Kazakhstan (50) with a score of 48.48. To compile the ranking Bloomberg uses data from the International Monetary Fund the World Intellectual Property Organization the World Bank the United States Patent and Trademark Office the Organization for Economic Co-operation and Development and UNESCO. In recent years Morocco has often performed well in terms of innovation in international rankings. A recent study on world competitiveness showed that innovation is one of the country's top assets. In the 2015 Global Innovation Index GII an annual study by the World Intellectual Property Organization (WIPO) Morocco ranked 87 out of 141 countries moving up six positions from the year before. Recently Morocco made it to 'top 50' list for 2016. The North African country was ranked 35th best country in the world out of 60 according to the '2016 Best Countries' study by American magazine U.S. News & World Report.
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