Greek still below European average for innovation
Despite the progress of the last few years, Greece is still behind other European Union countries in terms of innovation. Ranked 20th out of 27 EU member states according to the European Innovation Scoreboard 2020, the country's performance improved by 20 percent between 2012 and 2019.
Its innovation performance index was 76.7% of the EU average in 2019, compared to 62.8% in 2012, meaning it has made up ground. Greece’s progress stems from improved performance in low value-added sectors, and many Greek companies appear to have largely adopted, above the EU average rate, locally generated emerging market innovations.