World Bulletin / News Desk
Turkey posted the highest expenditure figure on research and development as a share of its GDP for 2012, according to TurkStat, Turkey's statistical authority.
Turkey's share of Gross Domestic Expenditure on Research and Development (GERD) in GDP was 0.92 percent in 2012, rising 17.1 percent compared to the year earlier, according to a statement published on the TurkStat website. GERD reached 7.25 billion dollars in 2012 from 6.6 billion dollars in 2011.
GERD has constantly increased since 2003 in Turkey, like nearly all economic indicators -such as industrial production, exports and GDP- over the last decade.
Turkey, however, lags behind industrialized countries. US had a GERD in GDP of 2.77 percent and Germany had 2.84 percent in 2011 where the 'Asian Tiger' Korea has 3.74 percent in 2010, according to OECD data.
GERD is an indication of a country's investment on know-how for future economic innovation and growth. Turkey aims to be one of the top ten economies in the world by 2023 on centennial year of its foundation. The latest GERD figures signal an upward investment for the country's economical future.
Private business enterprises led government, with a 46.8 percent share of the total GERD figure as western Turkish regions including Istanbul, the main industrial hub, has a 28.5 percent share on geographical distribution of the expenditures. The Full Time Equivalent (FTE) R&D personnel increased by 13.3% compared 2011.Last Mod: 20 Kasım 2013, 15:14