EU's strengths and weaknesses in terms of innovation
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Single market and standards Textiles, Fashion and Creative Industries Industry Entrepreneurship and SMEs Electrical engineering Access to finance for SMEs Aeronautics industries Automotive Biotechnology Chemicals Defence industries Food industry Healthcare industries Maritime industries Mechanical engineering Pressure equipment and gas appliances Tourism ToysThis year's Innovation Union Scoreboard shows that most Member States have improved their innovation performance. This allows the European Union to maintain a clear lead over the emerging economies of China, Brazil, India, Russia, and South Africa, but not to close the existing gap with innovation leaders such as the United States, Japan and South Korea. More efforts are therefore needed so as to address the EU's weaknesses. One area in the spotlight is related to firms' innovation activities.