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Georgia, leader in the region in terms of research and development

Georgia, leader in the region in terms of research and development

One of the World Development Indicators of the World Bank is research and development expenditure on GDP, including the total R&D expenditure incurred by all resident companies, research institutes, universities, and the state. According to recent data, research and development (R&D) expenditures account for about 0.3% of Georgia's GDP. The figure is lower than in Eastern Europe but exceeds Armenia, Azerbaijan, Moldova, and Central Asia. With this indicator, only Turkey is ahead of Georgia in the neighborhood by 0.9%. In Azerbaijan, the share of this expenditure in GDP is equal to 0.1%. Armenia has the same expenses.

Israel (4.95%) leads in terms of research and development spending when it comes to gross domestic product, followed by South Korea (4.81%), Sweden (3.34%), Japan (3.26%), and Austria (3.17%). EU countries spend on average 2.18% of GDP on research and development, OECD countries - on average 2.58%, and Europe and Central Asia - 1.98%.

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