R&D Expenditures

Source: The Economist, November 15th 2007.
"Spending on research and development in the 30 mainly rich countries of the OECD was $771.5 billion, or 2.25% of total GDP, in 2005, according to a new report by the organisation. Sweden, Finland and Japan were the only countries who spent more than 3% of GDP. Overall, the annual growth rate of R&D expenditure shrank by more than half to 2.2% in 2001-05 compared with 1995-2001. However, the growth rates in America, Japan and the European Union have remained similar since the mid-1990s, at about 2.9% a year. Among non-OECD countries, China's research spending was as much as half that of the EU and has grown at an annual rate of 18% since 2000. Businesses paid for more than 68% of R&D in the OECD."