Lithuania is ranked ahead of its Baltic State neighbors, Latvia and Estonia, in the latest Bloomberg global innovation rankings - South Korea took number one spot in the rankings, which scored economies using factors including research and development spending and concentration of high-tech public companies.
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Lithuania came in at 32nd place ahead of Latvia at 40th place and Estonia at 34th place. The top five most innovative countries in the world were South Korea, Germany, Sweden, Japan and Switzerland.

The innovation rankings rate the world‘s top 50 economies based on a range metrics, including number of patents filed, overall productivity, concentration of researchers, spending on R&D, and level of university research.