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Home BUSINESSResearch, dev expenditures fall below 3% of GDP
Fri, 28 Oct, 2016 12:04:50 AM
FTimes Report, Oct 28
Research and development expenditure by sector in 2009–2016*. Source: Research and development 2015, Statistics Finland.
Research and development expenditure amounted to EUR 6.1 billion in 2015, which was 2.9 per cent of the gross domestic product, according to Statistics Finland.
The expenditure went down by EUR 440 million from the year before. The GDP share of research and development expenditure was 2.9 per cent in 2015.
Business enterprises' investments in product development decreased by EUR 360 million or good eight per cent, the electrical and electronics industry dropped by EUR 440 million.
In the university sector, R&D expenditure remained almost unchanged, but in the research institutes and other public sector, the relative decrease in R&D expenditure was larger than that of enterprises, EUR 70 million or over 11 per cent, the data show.
The GDP share has decreased ever since 2009 when the share of R&D expenditure was 3.8 per cent.
The business sector's share of R&D expenditure has declined from 74 to 67 per cent in 2008 to 2015.
In 2016, R&D expenditure is estimated to fall by approximately EUR 100 million, putting its GPD share at no more than 2.8 per cent.
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