According to the ABS, BERD Has Moved From 1.26% to 1.34% of GDP. (September 23, 2010)

According to a media release from the Department of Innovation, Industry, Science and Research and based on Australian Bureau of Statistics analyses, Australian firms have increased their investment in research and development (BERD) to $16.9 billion during 2008-09. As a function of GDP that an increase from 1.26% to 1.34%. which has moved Australia from 14^th to 11^th place on the OECD 30 position table.

However, currently Sweden tops the charts with 2.78% of GDP with Finland right on its heels at 2.77%, i.e. just over twice that of Australia.

The data made available by the ABS also show:

• Business expenditure on R&D for pharmaceuticals has grown to $1.024 billion in 2008-09, up 12% over 2007-08.

• Large businesses continue to dominate BERD at almost $12 billion or 71% of the total.

• Growth in SMEs’ business R&D was 9%.

• Manufacturing accounted for the largest share of BERD, just under 26%.

The full report is available at: http://www.abs.gov.au/ausstats/abs@.nsf/mf/8104.0