Singapore splurges a new high of $7.4b on research and development

It was a 14.8% growth from 2010.

Singapore’s gross expenditure on R&D (GERD) recorded a new high of S$7.4 billion in 2011, according to the National Survey of R&D, 2011, produced by the Agency for Science, Technology and Research (A*STAR). It was a 14.8% growth from S$6.5 billion in 2010.

The compound annual growth rate (CAGR) of GERD from 2002 to 2011 was 9.1%. This reflects sustained growth in R&D investments in Singapore.

In 2011, the Business Expenditure on R&D (BERD), which is a measurement of private sector investment in R&D, grew by 17.2% (year-on-year) from S$3.9 billion in 2010 to S$4.6 billion in 2011. This is a good indication of the high value-added activities in Singapore and points to the growing competitiveness here. It also suggests that Singapore is a good location for innovation-led activities across many different sectors in manufacturing and services.

The Public Expenditure on R&D (PUBERD) in 2011 increased to S$2.8 billion, up from S$2.5 billion in 2010. It reflects the Government’s continued commitment to R&D as our future development strategy.

A*STAR’s Managing Director Dr Raj. Thampuran said, “The record high expenditure on R&D by the private sector is a testimony of Singapore’s value proposition for open innovation through public-private partnerships. It also demonstrates our ability to raise the competitiveness of industries and make steady progress towards an innovation economy.”

Singapore’s gross expenditure on R&D (GERD) as a percentage of GDP in 2011 was 2.3%. We are moving into the ranks of research-intensive countries in the world such as Finland, Sweden and Denmark.  



More From Singapore Business Review

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.175-0.004-2.23%
    N21.SI
    0.415-0.005-1.19%
    5ME.SI
    2.58-0.07-2.64%
    MC0.SI
    0.42-0.01-2.33%
    E5H.SI
    0.105-0.004-3.67%
    43E.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.17+0.05+39.34%
    BCV.SI
    0.295+0.045+18.00%
    E28.SI
    0.47+0.06+16.05%
    BTF.SI
    0.23+0.02+9.52%
    40D.SI
    0.395+0.030+8.22%
    BLR.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.165-0.035-17.50%
    K22.SI
    0.095-0.016-14.41%
    42U.SI
    0.176-0.029-14.15%
    BTJ.SI
    0.22-0.03-12.00%
    BJD.SI
    0.22-0.03-10.20%
    B49.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4296+0.0038+0.27%
    USDSGD=X
    1.5139-0.0022-0.15%
    EURSGD=X
    1.7238-0.0097-0.56%
    GBPSGD=X
    79.8520-0.145-0.18%
    SGDJPY=X
    5.4230-0.0096-0.18%
    SGDHKD=X
    3.1245-0.0025-0.08%
    SGDMYR=X
    9,353.6299-17.3125-0.18%
    SGDIDR=X
    4.8256-0.009-0.19%
    SGDCNY=X
    1.0687+0.0001+0.01%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,203.20+3.40+0.28%
    GCG17.CMX
    16.84+0.01+0.09%
    SIH17.CMX
    87.04+0.81+0.94%
    ^XAU
    2.670.00+0.13%
    HGH17.CMX
    52.20-0.81-1.53%
    CLG17.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.88+0.02
    ^FVX
    2.38+0.02
    ^TNX
    2.98+0.02
    ^TYX