R&D spending drops as share of GDP, new statistics show

The latest data from 바카라사이트 Office of National Statistics shows that 바카라사이트 UK spent 1.72 per cent of GDP on research and development in 2012, down from 1.77 per cent in 2011.

This ranks 바카라사이트 UK 12^th in terms of research and development expenditure in 바카라사이트 EU-28 group, behind countries including Slovenia, Estonia and 바카라사이트 Czech Republic.

Finland spends 바카라사이트 highest proportion of its GDP on research and development at 3.55 per cent, which is more than double that of 바카라사이트 UK. The average of all EU-28 countries is 2.06 per cent.

An analysis by 바카라사이트 Department of Business, Innovation and Skills, published in January, warned that 바카라사이트 UK had a sustained long-term pattern of under-investment in research and development as a proportion of GDP. It said that a ¡°step change¡± in investment would be needed for 바카라사이트 UK to remain a ¡°global leader¡±.

The Insights from international benchmarking of 바카라사이트 UK science and innovation system report found that 바카라사이트 USA spends 2.5 per cent of its GDP on research and development. In South Korea 바카라사이트 figure is 4 per cent.

According to 바카라사이트 latest data, released on 12 March, 바카라사이트 proportion of GDP spent on research and development in 바카라사이트 UK peaked at 2.14 per cent in 1986. Since 2001 it has fallen to between 1.65 and 1.79 per cent.

In current prices research and development spending fell ?0.5 billion, or 2 per cent, to ? billion compared with 2011. When adjusted for inflation 바카라사이트 fall is three per cent.

The report, UK Gross Domestic Expenditure on Research and Development, 2012, suggests that 바카라사이트 fall is largely down to a drop in investment from 바카라사이트 business sector.

Spending in higher education makes up per cent of 바카라사이트 total investment at ?7.2 billion and increased 1 per cent since 2011 in current prices.

But research council expenditure plummeted 22 per cent in current prices, from ?1 billion in 2011 to ?0.8 billion in 2012.

holly.else@tsleducation.com

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