Venezuela: Innovation index

The latest value from 2016 is 22.3 points, a decline from 22.8 points in 2015. In comparison, the world average is 36.73 points, based on data from 128 countries. Historically, the average for Venezuela from 2011 to 2016 is 25.15 points. The minimum value, 22.3 points, was reached in 2016 while the maximum of 27.4 points was recorded in 2011. See the global rankings for that indicator or use the country comparator to compare trends over time.

The Global Innovation Index capture elements of the national economy that enable innovative activities: (1) Institutions, (2) Human capital and research, (3) Infrastructure, (4) Market sophistication, and (5) Business sophistication. Two output pillars capture actual evidence of innovation outputs: (6) Knowledge and technology outputs and (7) Creative outputs.

Definition: The Global Innovation Index includes two sub-indices: the Innovation Input Sub-Index and the Innovation Output Sub-Index. The first sub-index is based on five pillars: Institutions, Human capital and research, Infrastructure, Market sophistication, and Business sophistication. The second sub-index is based on two pillars: Knowledge and technology outputs and Creative outputs. Each pillar is divided into sub-pillars and each sub-pillar is composed of individual indicators. The full report, data, and documentation are available at global innovation index.