Estimates Confirm the Recovery of Gross Expenditures on R&D

The latest OECD estimates of research & development (R&D) expenditure growth show that China has edged ahead of the European Union for the first time in terms of investment in R&D. China invested 1.98% of its GDP in R&D in 2012, compared to 1.97% for the European Union.

The data also shows that South Korea ranks first among OECD countries in terms of R&D spending to GDP — a position long held by Israel.

via OECD