Brazil tops the Global Innovation Index ranking in Latin America

Brazil rose 5 places in the IGI (Global Innovation Index) compared to the 2022 ranking, and now ranks 49th out of 132 countries, becoming first in Latin America. Last year, Chile was ahead of Brazil. The data was released on Wednesday (September 27, 2023) by the World Intellectual Property Organization (WIPO).

Even with continued gains in positions for the third year in a row, Brazil’s position is still considered below the potential of the country, which today has the tenth largest economy in the world. Brazil’s best position in the IGI was in 2011, when it reached 47th place.

The data shows that Brazil leads Latin America and the Caribbean, after 12 years outside the list of IGI’s top 50 economies. After continuous growth in recent years, the country has overtaken Chile (52nd) and secured the status of the region’s most innovative economy. Mexico (58th) comes next, occupying third regional position.

Among the five BRICS countries – which were formed before the new members were announced a few weeks ago – Brazil ranks third, ahead of Russia (51st) and South Africa (59th). China ranks 12th and India ranks 40th.

The top ten countries in the index are, respectively: Switzerland, Sweden, the United States, the United Kingdom, Singapore, Finland, the Netherlands, Germany, Denmark, and South Korea.

The ranking is published annually, since 2007, by WIPO in partnership with the Portolans Institute and with the support of international partners – in the case of Brazil, CNI and MEI (Business Mobilization for Innovation), partners in the production and dissemination of the IGI since 2017.

With information from CNI.