Sweden Next Best on R&D Spending

There’s good news for researchers here as a new report shows that Sweden spends more of its GDP on research and development than any other country in the world apart from Israel.

According to data from Statistics Sweden around 15 billion US dollars was spent on research and development in 2005. Although the total share of GDP had dipped from two years earlier, the level was still ahead of Sweden’s international competitors.

Israel and Sweden were followed in 2005 by Finland, Japan South Korea and the US.

Private companies made up 74 percent of the total, universities invested 21 percent, with government only accounting for 5 percent.

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