This chapter proposes a taxonomy of country performance based on GDP and innovation indicators within G20 economies. This study considers the impact of GDP on the "development degree" (fi) for the G20 economies and investigates how the development of G20 economies relates to the innovation promotion factors extracted from the Global Innovation Index (GII) indicators, used as the secondary data for the period 2010–2016. Various variables are used, such as population (in millions), GDP (in USD billion), and seven indicators that are extracted from the GII data. Through the evaluation process, the seven indicators are divided into input and output data; five of them are the input data (institutions, human capital and research, infrastructure, market sophistication, and business sophistication), and the other two are the output data (knowledge and technology output and creative output). The taxonomy provides the identification of country performance and presents relevant information to policymakers, who seek to apply effective economic strategies and develop global policies.