| NEWS ARCHIVES |
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| Singapore's R&D spending sees new high of S$7.13bil |
| 23 Dec 2009 |
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Singapore spent a record 7.13 billion dollars last year in Research & Development activities.
Disclosing this in its latest National Survey of R&D today, the Agency for Science, Technology and Research or A*STAR says the figure represents 2.77 percent of Singapore's gross domestic product.
The private sector increased its R&D spending by 20.9 percent on-year to 5.12 billion dollars in 2008.
A*STAR points out that much of the private sector growth was driven by manufacturing R&D activity, especially in the electronics sector.
Last year's R&D spending by the electronics sector alone was 3.04 billion dollars, a 39.3 percent on-year increase.
Overall, Singapore's gross expenditure on R&D grew at a compound annual growth rate of 11.2 percent from 2000 to 2008. |