Research & Development key performance indicators

The top 3 countries that are leading R&D in the world have their business sector expending more than 70% of their country's

Research and Development investment is one of the Sustainable Development Goals (SDGs). The R&D total expenditure has reached nearly US$ 1.7 trillion. But only 10 countries account for almost 80% of spending

The chart below shows the R&D spending of the top twelve countries with a percentage expended by the business sector and a percentage of their Gross Domestic Product allocated to R&D


We can highlight that on average the top 12 countries expend 2.13% of their GDP on R&D and also that the business sector holds the widest participation with 64.20%.

Moreover, the top 3 countries that are leading R&D in the world have their business sector expending more than 70% of their country's R&D expending which represents 2 or more percent of their GDP.

The chart below shows the R&D spending of the five Spanish speaking countries in Latino America with a percentage expended by the business sector and a percentage of their Gross Domestic Product allocated to R&D


The information about Latino America shows that the top two countries are Mexico and Argentina with 0.5% and 0.6% of their GDP allocated to R&D respectively but Colombia and Chile maintain higher participation of the business sector with 43% and 33% respectively

In my opinion, A good government strategy would be to support businesses to become more innovative by expending more on R&D.

*Data Source: UNESCO Institute for Statistics (UIS)