Bulgaria's position in the annual innovation index released by the European Commission places it between Montenegro and North Macedonia. The country ranks after Turkey and Montenegro but ahead of North Macedonia and Albania, remaining in the "emerging innovators" category with a score of 46% of the EU average for 2024. This score is below both the EU average and the average of its peer group, with Bulgaria achieving 50.6 points on the Innovation Index from 2017 to 2023.

In the overall ranking, Bulgaria stands 33rd out of 39 countries assessed, with Romania occupying the 36th position at 37.4 points. While there has been a slight improvement from 2023, Bulgaria's innovation trend since 2017 shows minimal progress, with only marginal advancements noted.

The report highlights positive developments, such as increased employment in innovative sectors, growth in information and communication technology, improved broadband internet access, and a rise in foreign doctoral students at Bulgarian institutions. However, there are also notable concerns: although the quality of human resources improved by 7.8 points since 2023, it has decreased by nearly 2 points compared to 2017. The increase in foreign doctoral students is overshadowed by a significant drop in the number of doctoral graduates in STEM fields per capita since 2017. Bulgaria's ranking in above-average digital skills has remained stagnant, with a score of 16.6 points, far behind Switzerland's leading score of 172.3.

Structural weaknesses are evident in several areas, including inadequate government support for business R&D, low private sector investment in innovation, insufficient collaboration among SMEs, and a limited engagement in lifelong learning programs. Furthermore, the country struggles with resource performance and lacks essential environmental technologies.

Since 2017, the EU has seen a 10% improvement in innovation performance, with Bulgaria showing an increase of less than 5%, in line with countries like Germany and France. Conversely, 11 EU member states have experienced higher growth rates, with Cyprus and Estonia leading with increases of 39% and 27%, respectively.

Denmark has secured the top position as the most innovative EU member state, overtaking Sweden, which held the lead from 2017 to 2022. The overall performance of EU member states remains stable, with only Estonia advancing to the strong innovator category following consistent growth since 2017. Belgium, last year's innovation leader, has shifted to strong innovator status while maintaining its fifth position.

On a global scale, South Korea continues to lead as the most innovative competitor in 2024, while China has surpassed Japan and is closing the gap with the EU. The EU retains a robust position internationally, performing well across various indicators, particularly concerning SMEs innovating in products, processes, and environmentally related technologies. However, challenges persist, particularly in areas like intellectual assets, collaborative innovation efforts, and R&D investments within the business sector.