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%.
