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Research And Development Expenditure Passes Five Billion Dollars
Total research and development (R&D) expenditure reached over five billion dollars in 2022, according to figures released by Stats NZ today.
Expenditure on R&D increased by 11 percent ($534 million) compared with 2020, and by 67 percent ($2 billion) compared with 2016. This covers the business, government, and higher education sectors.
“Growth in R&D expenditure has been driven by the business sector – nearly doubling what they spent between 2016 and 2022,” business performance manager Ricky Ho said.
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