Medical innovations
Medical innovationsiStock

Israel moved up to fifth place in the 2019 Bloomberg Innovation Index, an annual ranking of the world’s 60 most innovative countries.

The index, unveiled Tuesday, reviews dozens of criteria using seven metrics, including research and development spending, manufacturing capability and concentration of high-tech public companies.

Israel was ranked 10th in 2018. The United States finished eighth after being 11th last year.

South Korea led the index, followed by Germany, Finland and Switzerland.

Israel was ranked first in the R&D intensity category and fell to second place from first last year in research concentration.