Cyprus records changes in its performance in the Innovation Output Indicator (IOI), according to a European Commission Joint Research Centre study entitled “Tracking country innovation performance: The Innovation Output Indicator 2025”. The EU average IOI score for 2024 stands at 110 points, while Cyprus records a score of 92 points.
The report presents the latest results of the composite IOI and its underlying indicators for 46 countries, including EU member states as well as selected EFTA, OECD countries and emerging economies.
As noted in the report, the IOI is a composite indicator that captures countries’ ability to translate innovation into economic outcomes, through parameters such as employment in knowledge-intensive sectors, the market uptake of innovative products, and the technological performance of economies.
With regard to methodology, the IOI is calculated as the average of four components, and its values are normalised, using as a benchmark the EU-27 value in 2014, which is set at 100.
More specifically, Cyprus, together with Germany, records marginal changes in the IOI over the period 2014–2024, with its performance remaining broadly stable compared with the wider upward trend observed in many EU member states. The EU average IOI score for 2024 stands at 110 points, while Cyprus records a score of 92 points.
At EU member state level, Sweden ranks first with 141 points, followed by Ireland with 135 and Germany with 127, and then Denmark and Luxembourg.
At the opposite end of the ranking, Romania records 40 points, Bulgaria 52 points, and Slovakia 61 points, representing the lowest performances among the 27 EU member states for the same year.
At the same time, according to the report, Cyprus records a GDP per capita of EUR 36,479.9 in Purchasing Power Standards (PPS) for 2024, with a growth rate of 5.1% for the period 2023–2024, 12.6% for 2022–2024, and a total increase of 55.4% over 2014–2024.
