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New Zealand R&D expenditure passes 3 bln USD

WELLINGTON
2023-04-28 11:39

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WELLINGTON, April 28 (Xinhua) -- New Zealand's total research and development (R&D) expenditure reached more than 5 billion NZ dollars (3.08 billion U.S. dollars) in 2022, according to figures released by the statistics department Stats NZ on Friday.

Expenditure on R&D increased by 11 percent compared with 2020, and by 67 percent compared with 2016. This covers the business, government, and higher education sectors, Stats NZ said.

"Growth in R&D expenditure has been driven by the business sector - nearly doubling what they spent between 2016 and 2022," said Stats NZ business performance manager Ricky Ho.

R&D expenditure in the business sector grew by 1.5 billion NZ dollars (920 million U.S. dollars) compared with 2016 and accounted for 59 percent of total R&D expenditure in 2022, Ho said.

The number of businesses reporting R&D expenditure in 2022 was approximately 2,300, which grew by 45 percent compared with 2016, he said.

The average expenditure per business has increased from 1 million NZ dollars (620,000 U.S. dollars) in 2016 to 1.3 million NZ dollars (800,000 U.S. dollars) in 2022, he added.

Within the business sector, the scientific research and technical services industry saw the greatest growth between 2016 and 2022, with expenditure increasing from 75 million NZ dollars (46 million U.S. dollars) to 321 million NZ dollars (197 million U.S. dollars). This industry contributed 6 percent to total R&D expenditure in 2022, Ho said.

Expenditure since 2016 also continued to grow in the government (up 37 percent) and higher education sectors (up 43 percent), he said.
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