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  • News in Vietnam
  • News
  • 4 November 2021

Vietnam ranks second in terms of net exports of high technology

Statistics show that six countries are leading in each industry. In particular, Vietnam is the second country in terms of net exports of high technology.

Global Innovation Index (abbreviated as GII) is an index to assess world economies’ innovation capacity and results. The Global Innovation Index (GII) idea was introduced by Professor Dutta of the INSEAD Institute in 2007. With the sole aim of determining how to get these metrics and approaches that allow grasping better the extent of innovation and the effectiveness of the innovation system of countries and economies. The big challenge is to find data that honestly reflect innovation in the world. Direct measurements of the output of innovation are still lacking at present.

Drive innovation

Here are some of the earnings group leaders and some of their crucial output areas:

  • Switzerland: First in knowledge creation, second in global brand value
  • United States: First in entertainment and media, computer software spending, Intellectual Property Receipts
  • China: First in registered patent
  • Vietnam: Ranked second in terms of high-tech net exports
  • India: The first is to export information and communication technology services
  • Tanzania: 23rd in print and other media

In the high-income group, the top three countries are Switzerland, Sweden, and the United States. Switzerland is not a surprise as it has the second-highest GDP per capita globally.

In the upper-middle-income group, the top three countries are China, Malaysia, and Bulgaria. What’s particularly striking is that China is far ahead of other countries in the upper-middle-income group ranking, reaching 14th place overall in 2020. The rest of the income group only appears in the order overall after 30th place.

Most innovative countries, ranked by income group

Innovation can be instrumental to the success of economies at macro and micro scales. While investment provides powerful fuel for innovation – the relationship is not always straightforward.

While wealthy nations continue to lead global innovation, the GII also shows that middle-income countries, particularly Asia, are making impressive strides.

Global Innovators

According to this indicator, since 2011, Switzerland has led the world in innovation, and the top five countries have seen little change in recent years.

But the countries with the most significant moves in the GII rankings are found in Asia.

China, Vietnam, India, and the Philippines have grown the most, with all four currently in the top 50. China broke into the top 15 in 2019 and remained the largest economy in the world. The only average income in the top 30.

Not stopping global innovation.

The terrible impact of COVID-19 has crept to every corner of the world and made some industries seem to be “stuck.”

Globally, airlines have grounded nearly 75% of their fleets, and traffic reports in some of the world’s busiest cities show traffic has fallen to a similar extent.

Epidemics also affect individuals. Recent psychological studies show that people from all over the world are experiencing high levels of anxiety, stress, and anger.

The GII 2020 report has been released to stay up to date with trends since the 2019 report. The data shows that Vietnam’s effort to catch up with the rest of the world continues to be strong.

Moreover, Vietnam’s absolute increase in 2019 and 2020 is remarkable compared to the relative rise between Vietnam and other countries in the region. For example, in recent years, Vietnam’s ranking in the WIPO Global Innovation Index Report compared to ASEAN countries has maintained its 3rd position for two consecutive years. 

(Source: Visualcapitalist)

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