Serbia is ranked 55th on the list of the world’s most innovative economies, which is an improvement by seven positions compared to last year, according to the 2018 Global Innovation Index report.
Montenegro, Romania and Croatia are ranked better, while Albania, Macedonia and Bosnia and Herzegovina are ranked worse than Serbia.
For the first time, China is among top 20 most innovative economies, while the United States dropped from the top five on the list.
Ranked first is Switzerland, followed by the Netherlands, Sweden, Great Britain and Singapore.
From the last year’s fourth place, the United States dropped to the sixth, while China made progress from 22nd to 17th position.
The Innovation Index is issued annually by WIPO, Cornell University and INSEAD Business School.