5 Most Innovative Economies in Central and South America

In this article, we will look into the 5 most innovative economies in Central and South America. If you want to read our detailed analysis, you can go directly to the 10 Most Innovative Economies in Central and South America.

5. Colombia

R&D Expenditure as a Percentage of GDP (2020): 0.29%

High Technology Exports (2021): $735 million

Digital Adoption Index (2016): 0.637

Insider Monkey Score: 4.8

Colombia is ranked among the most innovative economies in Central and South America. In 2021, the country reported high-technology exports of $735 million. The country spent a total of 0.29% of its GDP on research and development in 2020.

4. Costa Rica

R&D Expenditure as a Percentage of GDP (2021): 0.28%

High Technology Exports (2020): $1.04 billion

Digital Adoption Index (2016): 0.662

Insider Monkey Score: 4.6

Costa Rica ranks 4th on our list. In 2021, the country spent 0.28% of its GDP on research and development. The country reported high-technology exports of $1.04 billion in 2020.

3. Argentina

R&D Expenditure as a Percentage of GDP (2021): 0.52%

High Technology Exports (2021): $4.6 billion

Digital Adoption Index (2016): 0.685

Insider Monkey Score: 3.4

Argentina is one of the most innovative economies in Central and South America. The country reported a DAI of 0.685 in 2016. In 2021, the country spent 0.52% on R&D. The high technology exports of the country were $4.6 billion in 2021.

2. Chile

R&D Expenditure as a Percentage of GDP (2020): 0.33%

High Technology Exports (2021): $1.26 billion

Digital Adoption Index (2016): 0.756

Insider Monkey Score: 2.8

Chile is ranked 2nd on our list. In 2016, the country reported a DAI of 0.756. In 2020, the country spent a total of 0.33% on R&D. The high technology exports of the country were $1.26 billion in 2021.

1. Brazil

R&D Expenditure as a Percentage of GDP (2020): 1.15%

High Technology Exports (2021): $6.35 billion

Digital Adoption Index (2016): 0.683

Insider Monkey Score: 1.6

Brazil tops our list of the most innovative economies in Central and South America. In 2021, the country reported high-technology exports of $6.35 billion. The country spent 1.15% of its GDP on research and development in 2020.

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