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New Zealand Business Sector R&D Expenditure Reaches $3.7 Billion – Media Release
26 April 2024
Research and development (R&D) expenditure in the Aotearoa New Zealand business sector continues to grow, reaching $3.7 billion in 2023, according to figures released by Stats NZ today.
Business sector expenditure on R&D increased $540 million (17 percent) between 2022 and 2023. This increase in expenditure was led by the services industries, which grew $331 million (15 percent) between the two years. The services industries include computer services, wholesale trade, and scientific research. Of the 13 industries in the R&D survey, 12 had higher expenditure compared with 2022.
The 17 percent increase in expenditure in 2023 is the largest annual increase since 2018, when data on R&D began to be collected every year.
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- New Zealand business sector R&D expenditure reaches $3.7 billion
- Research and development survey: 2023
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