China is on track to become the biggest R&D spender as it rapidly closes the gap in private sector financing, the GII showed.
At the same time, the outlook for global innovation is clouded by declining investment, according to the survey.R&D growth is set to slow to 2.3% this year from 2.9% last year, which was its lowest since 2010 after the financial crisis.
China contributed about a quarter of international patent applications in 2024, remaining the biggest source of them, while the United States, Japan and Germany – which together make up 40% of total applications – all recorded slight declines.
Ownership of patents is widely seen as an important sign of a country’s economic strength and industrial know-how.
Looking at the long-term, Germany should not be alarmed by its fall to 11th place, said GII co-editor, Sacha Wunsch-Vincent, adding that the new rankings did not reflect the impact of tariffs imposed by the Trump administration in the US.
”The challenge for Germany is how…, alongside its strong, decades-long status as a really powerful engine of industrial innovation, to become a powerhouse of digital innovation,” said WIPO Director General Daren Tang.
The other countries in the list’s top 10 – behind the US and ahead of China – were, in order of ranking: South Korea, Singapore, Britain, Finland, the Netherlands and Denmark.
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