RIO DE JANEIRO, BRAZIL – Brazil climbed 5 positions in relation to last year, but is 11 places behind its best placement, 47th, achieved in 2011. The ranking began to be published annually in 2007.
The country’s main weaknesses indicated in the ranking are gross capital formation, ease of starting a business, ease of securing credit, and applied tariff rate. The greatest improvements in Brazil compared to the 2020 data were seen in the Labor Productivity Growth and Total Software Expenditure indicators.
According to the National Confederation of Industry (CNI), Brazil’s position is incompatible with the fact that it was the 12th largest economy in the world in 2020, and with its sophisticated business sector.
The entity’s president Robson Andrade believes that investments in science, technology and innovation are essential for the country’s competitiveness in the international scenario.
“An ambitious national strategy, which prioritizes scientific and technological development and innovation to strengthen industry, will help make the economy more dynamic, promoting greater equity and social welfare,” he said.
The IGI is one of the main reference instruments for business leaders, policymakers and anyone looking to learn about innovation in the world. The ranking’s different metrics can be used to monitor a country’s performance, comparing it with economies in the same region or in the same income group.