How much do countries invest in R&D?
As the UN General Assembly prepares to address the Sustainable Development Goals (SDGs), the UNESCO Institute for Statistics has released a new data tool showing the leaders and emerging players in research and development (R&D). “Innovation is key to achieving each of the Sustainable Development Goals. So it is essential to track R&D investment in the knowledge, technology and thinking that drives innovation in countries,” said Silvia Montoya, Director of the UNESCO Institute for Statistics. SDG 9 calls on governments to promote sustainable industrialization and innovation by ramping up spending on R&D and increasing the number of researchers. Both indicators are featured in the new data tool entitled: ‘How much does your country invest in R&D?’ The top five R&D performers in absolute terms (R&D expenditure) are all large economies: United States followed by China, Japan, Germany and Republic of Korea. But the ranking changes dramatically according to the data that will be used to monitor SDG 9 (R&D expenditure as a percentage of GDP): Republic of Korea is the world leader followed by Israel, Japan, Finland and Sweden. Regions have been setting their own spending targets for some time: the best-known being the European Union (EU) target to raise overall R&D investment to 3% of GDP by 2020. According to UIS data, only six countries worldwide have managed to surpass the 3% target, and three are smaller EU economies: Denmark, Finland and Sweden. These, in turn, lag behind Japan with 3.6% and Israel with an impressive 4.1%. And all of them trail behind South Korea – the world leader – with 4.3%. Austria, Germany and Switzerland hover around 3% as does the biggest spender of all: the United States. Few countries in other regions compete with these proportions. In Central and Eastern Europe, Slovenia leads with 2.4% compared to […]