The World Intellectual Property Organization (WIPO) has published its latest Global Innovation Index 2023, in which Latvia comes in at 37th place, which is four places higher than last year. Although Latvia has improved its position, there are some areas in which we still need to find solutions for improving our results and closing the gap with countries with more developed innovation.
The Global Innovation Index 2023 concludes that, in Latvia, investment in innovation outpaces the number of actual innovations, but the number of patents submitted has improved by 3.28% since the last rating.
Figures have also improved in high technology exports. Its value increased by 5.94%, with Latvia ranking a high 25th in this category.
In this year’s Innovation Index, Latvia’s best results were in creative outputs (31st place), infrastructure (33rd place), and business sophistication (37th place). Latvia also has comparatively high results in institutions (39th place), human capital and research (43rd place), and knowledge and technology outputs (49th place).
