New Zealand business sector’s research and development (R&D) expenditure continues to grow, reaching 3.7 billion NZ dollars (2.21 billion U.S. dollars) in 2023, according to the statistics department Stats NZ on Friday.
Business sector expenditure on R&D increased by 17 percent between 2022 and 2023, which was the largest annual increase since 2018, led by the services industries including computer services, wholesale trade, and scientific research, which grew 15 percent between the two years, Stats NZ said.
Of the 13 industries in the R&D survey, 12 had higher expenditure compared with 2022, it said.—Xinhua
