PH climbed to 53rd place in the 2024 Global Innovation Index

The Philippines rose three spots to rank 53rd out of 133 economies in the 2024 Global Innovation Index (GII), exceeding its target of 54th place.

According to the National Economic and Development Authority (Neda), this improvement reflects the country’s increasing focus on innovation as a key driver of progress.

Recognized by the World Intellectual Property Organization (Wipo), the Philippines ranks third among lower-middle-income economies, behind India and Vietnam, and fifth in the Asia-Asia region. The country continues to lead in high-tech exports and creative industries, but faces challenges in research and development, human capital and digital infrastructure.

Although the Philippines saw a slight decline in its innovation performance sub-index, dropping from 52nd to 53rd, it remains strong in high-tech sectors. The country leads the world in high-tech exports as a percentage of total trade, particularly in areas such as computers, scientific instruments and electrical machinery.

The country also ranks 14th in the world for creative goods, which include design, fashion and film, and 19th for exports of information and communications technology (ICT) services. It also ranks 34th in global brand equity and 35th in intangible asset value intensity, reflecting its growing influence in international markets.

In the innovation expenditure sub-index, the country climbed from 69th to 67th place in 2024 thanks to strong performance in various sectors. The Philippines ranks fourth in the world in high-tech imports as a percentage of total trade, 32nd in energy efficiency (gross domestic product per unit of energy), and 28th in domestic market size.

However, to sustain this progress, the Philippines needs to invest more in research and development, human capital and digital infrastructure. The country ranks 86th in researchers per million inhabitants, 108th in secondary school student-teacher ratio, 105th in ICT access and 94th in PCT patents for knowledge creation.

The GII, published annually by Wipo, assesses the innovation capabilities and performance of 133 economies around the world. /BLANKET