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R&D Moves Towards Services Industries
In the last five years, research and development (R&D) expenditure by the services industries has more than doubled, whereas it has only risen 12 percent for the manufacturing industry, Stats NZ said today.
In 2021, R&D undertaken by the services industries accounted for almost three-quarters ($1,999 million) of total business R&D expenditure, compared to just over one-half ($835 million) in 2016. Conversely, the manufacturing industry accounted for one-quarter ($753 million) in 2021, compared to 42 percent ($671 million) in 2016.
“Since 2016, we have seen a shift in how much R&D is being undertaken across the New Zealand economy, with the services industries becoming more prominent,” business performance statistics manager Ricky Ho said.
Services businesses make up a large proportion of the New Zealand economy, and include a wide range of industries, such as construction, wholesale trade, healthcare, and ICT (information and communications technology).
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