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Business spending on research and development reaches $17.9 billion
Business spending on research and experimental development (R&D) reached $17.9 billion in 2010-11, according to the Australian Bureau of Statistics (ABS). This was an increase of 7% from the previous year.
Businesses in the manufacturing industry reported the largest growth in R&D expenditure, increasing by $499 million over the last financial year. This was followed by the professional, scientific and technical services industry which increased by $140 million.
The major contributors to R&D expenditure were the manufacturing (27%) and mining (21%) industries. Financial and insurance services and professional, scientific and technical services industries contributed 15% each.
While all states and territories reported increased expenditure on R&D, growth since 2009-10 was strongest in Queensland (up $322 million), Western Australia (up $265 million), and New South Wales (up $255 million).
Further information is available in Research and Experimental Development, Businesses, Australia, 2010-11 (cat. no. 8104.0).
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