Technological innovation has been defined as a country’s “absorption capacity”—the ability to put information from abroad into practice by developing new products and processes which play a key role in international trade and economic development.1 Therefore, the development of relevant indicators to measure the level of technological innovation—seen as absorption capacity—across countries is of great interest in a knowledge-based economy with high and increasing dependence on information technology and human capital. Márquez-Ramos et al. (2007) have recently compiled a number of indices and variables to measure the achievement of technological innovation, understood as absorptive capacity. As a nation’s technological achievements are very complex, it is difficult to capture them in any single index that reflects the full range of technologies and quantifying aspects of technology creation, diffusion and human skills. This being said, one measure that has attempted to capture technological innovation in a relatively broad manner is the Technological Achievement Index (TAI), which has been used in empirical analyses (Martínez-Zarzoso and Márquez-Ramos 2005; Márquez-Ramos 2007). This index has been constructed using indicators of a country’s achievements in four dimensions: creation of technology, diffusion of recent innovations, diffusion of old innovations and human skills. These analyses have shown that technological innovation is of great importance to foster exports.