ABS Releases Statistics on Business Expenditure on Research and Development. (September 28, 2009)

One September 25 the Australian Bureau of Statistics (ABS) released its latest compilation of Australian business' expenditure on research and development (BERD) as well as that in the Economic Co-operation and Development (OECD) countries.

According to the ABS: "Although Australia's BERD/GDP ratio for 2007-08 remained below the OECD average of 1.59%, its growth from 2006-07 was greater than the OECD average growth. BERD in 2007/8 increased to $14.4 billion up from $12.5b in 2006/7 -- an increase of 15% in nominal terms and 9% in real terms (chain volume)."

In terms of GDP, BERD increased to 1.27% in 2007/08 up from 1.20% in the previous year, an all time high.

The material below is taken directly from  http://www.abs.gov.au/ausstats/abs@.nsf/mf/8104.0?OpenDocument