The National Competitiveness and Productivity Council has revised upwards Ireland's ranking when it comes to international innovation performance.
In the Global Innovation Index 2023, Ireland ranked 22nd overall, with a significantly stronger performance under innovation outputs compared to inputs.
However, the NCPC has re-estimated Ireland's performance using Gross National Income (GNI) as a measure of national income, rather than Gross Domestic Product (GDP).
When measured this way, it said Ireland ranks 12th rather than 22nd, with the revised rankings for innovation outputs at 14th and for innovation inputs at 20th.
"There are issues inherent in using GDP as a measure of national income for Ireland," the NCPC said in its latest bulletin.
"Of the 80 indicators included in the Global Innovation Index (GII) for 2023, 30 are measured, or scaled, in terms of GDP," it added.
The NCPC said it believes using GNI instead of GDP provides a more accurate view of Ireland's innovation performance, relative to other countries.
When assessed in terms of GNI, it said the gap between Ireland and the best performing countries closes considerably.
