Canada Ranks Top 15 on Global Innovation Index 2023

Canada Ranks Top 15 on Global Innovation Index 2023

This blog has been edited due to Bill C-59

Key Points

  • Global innovation measured by the World Intellectual Property Organization (WIPO)
  • Canada ranks 15th on the 2023 annual index, unchanged from the year prior
  • In individual indicators, Canada ranked the highest (4th) in the world for market sophistication

Canada Ranks Top 15 on Global Innovation Index 2023 cover

Innovation has always driven the world’s top economies to become even stronger. From the Industrial Revolution to the invention of electricity to the dawn of artificial intelligence, new technologies – through innovative research and development – have propelled society to new heights.

The Global Innovation Index (GII) 2023 by the World Intellectual Property Organization (WIPO) sheds light on which countries abroad are more influential in science, technology, and innovation. Launched in 2007, it aims to identify metrics and methods to capture a picture of societal innovation that is as “complete as possible.”

Canada, a global leader in the aforementioned fields, placed 15th out of 132 countries on this year’s index behind its Western counterparts such as Germany, France and Israel, but ahead of Norway, Australia and Belgium.

Here are the top 25 innovative countries of 2023, according to WIPO. Also see:

Top 25 Global Innovative Countries 2023

Global Innovation Index 2023 - Visual CapitalistCourtesy of Visual Capitalist

  1. Switzerland
  2. Sweden
  3. United States
  4. United Kingdom
  5. Singapore
  6. Finland
  7. Netherlands
  8. Germany
  9. Denmark
  10. Republic of Korea
  11. France
  12. China
  13. Japan
  14. Israel
  15. Canada
  16. Estonia
  17. Hong Kong, China
  18. Austria
  19. Norway
  20. Iceland
  21. Luxembourg
  22. Ireland
  23. Belgium
  24. Australia
  25. Malta

Index Methodology

The GII Index 2023 includes 132 nations, representing 92.5% of the world’s population and 97.6% of the world’s gross domestic product (GDP) in purchasing power relative to current international dollars.

A complete set of 80 indicators are used to determine a country’s innovativeness, which fall into three categories:

  • Quantitative/objective/hard data (64 indicators)
  • Composite indicators/index data (11 indicators)
  • Survey/qualitative/subjective/soft data (5 indicators)

Canada’s Innovation Rankings

Canada scored reasonably high out of 132 participating countries on all indicators. Below is Canada’s ranking for the “main” categories, giving us an idea of the type of indicators used in the GII 2023:

Institutions – 14th

  • Institutional environment
  • Regulatory environment
  • Business environment

Human capital and research – 10th

  • Education
  • Tertiary education
  • Research and development (R&D)

Infrastructure – 30th

  • Information and communication technologies (ICTs)
  • General infrastructure
  • Ecological longevity

Market sophistication – 4th

  • Credit
  • Investment
  • Trade, diversification and market scale

Business sophistication – 18th

  • Knowledge workers
  • Innovation linkages
  • Knowledge absorption

Knowledge and technology outputs – 19th

  • Knowledge creation
  • Knowledge impact
  • Knowledge diffusion

Creative outputs – 22nd

  • Intangible assets
  • Creative goods and services
  • Online creativity

Why Innovation Matters

Innovation is crucial for the progress and development of individuals, organizations, governments, and nations as a whole. It involves the development of novel ideas, processes, or products that improve upon existing ones, accelerating technological advancement.

Innovation helps to increase efficiency, effectiveness, and competitiveness, leading to growth and success. By continuously innovating, companies can stay ahead of changing market trends and consumer demands, attract new clientele, and increase revenue. On a governmental level, nations can move forward in improving the reliability and longevity of industry in sectors such as manufacturing, transportation, and housing.

Additionally, innovation has the potential to solve complex issues and improve the quality of life for individuals and countries around the world. 

Canada is a Global Innovation Leader

Canada is more innovative than almost all other major energy exporters worldwide. Below are the GII 2023 rankings for some of the world’s top oil and natural gas exporters:

  • United States – 3rd
  • Canada – 15th
  • Norway – 19th
  • Australia – 24th
  • United Arab Emirates – 32nd
  • Saudi Arabia – 48th
  • Brazil – 49th
  • Qatar – 50th
  • Russian Federation – 51st
  • Mexico – 58th
  • Iran – 62nd
  • Kuwait – 64th
  • Oman – 69th
  • Kazakhstan – 81st
  • Algeria – 119th
  • Angola – 132nd

With projected global oil and natural gas demand growth for decades to come, these energy commodities should come from the best suppliers – from places like Canada, with an exceptional ranking on innovation indices like the GII 2023.

Innovation in Canada’s natural resources sector is a prime example of why it should be a go-to supplier. More Canadian energy on global markets supports our families here at home and displaces market share from less transparent and reliable producers abroad.

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