The ranking was based on an technology creation, education, the spread of new technology, such as the Internet, and the use of established technologies like telephones.
Finland topped the list, followed by the US. Among Asian countries, Japan and South Korea also made it to the top 10, taking fourth and fifth positions respectively.
Its ranking puts Singapore among the "leaders" in the list, but the island trails in terms of patents granted. It ranks 18th, with just eight patents granted per million residents.
Another area in which Singapore lags is in education, which is measured in the average number of years spent in school after the age of 15. Singapore chalked up a mere 7.1 years, compared with 10.8 in Korea and 10 in Finland.
Singapore also lost a little ground in the UNDP's Human Development Index for the thrid year running. The report was released in Mexico City.