According to the Global Innovation Index, Armenia has a considerable decline, economist Tigran Jrbashyan wrote this on Facebook.

In particular, he noted: "According to the Global Innovation Index published by the World Intellectual Property Organization in 2022, which is considered one of the most reliable and accepted sources for measuring the innovation of economies, Armenia is in the 80th position (see https://www.wipo.int /global_innovation_index/en/2022/).

For comparison, I should note that in 2020, Armenia was in the 61st position; and within two years it dropped its position by 19 positions, which is one of the biggest declines in the Global Innovation Index (see https://www.wipo.int/global_innovation_index /en/2020/)

It is noteworthy that the rating is calculated according to different indicators (innovation pillars), among which, for example, in 2 years, Armenia lost 17 positions in the market sophistication indicator, 15—in business sophistication, 26—in the knowledge & technology outputs indicator, and 17—in the creative outputs indicator.

Such a situation is due also to the lack of collected data and their outdatedness. Thus, according to WIPO, 11 indicators, which are collected when compiling the rating, are missing for Armenia. Among these data, for example, the number of researchers is 1 million per capita, the venture capital received in the GDP, the PISA scores in reading, mathematics and science, etc. (see https://www.wipo.int/…/pub…/en/wipo_pub_2000_2022/am. pdf).

However, the 7 indicators that are considered outdated for Armenia are more interesting. This means that there is generally no problem with receiving the data, but it has not been updated.

Those indicators are:

-Business policy and culture (source: Global Entrepreneurship Monitor),

-Availability of financial resources for startups and company scaling (source: Global Entrepreneurship Monitor),

– Percentage of venture capital transactions in purchasing power equivalent in the GDP (source: Refinitiv),

– The share of knowledge-building work (source: International Labor Organization),

– Share of research funding by private companies in the GDP (source: UNESCO Institute of Statistics),

– Share of research funding by foreign organizations in the GDP (source: UNESCO Institute of Statistics),

– Participation of women with higher education in the labor market (source: International Labor Organization).

I am sure that at least if these indicators are updated, Armenia will considerably improve its ranking in the next edition of the Global Innovation Index."