Australia’s R&D spending as share of GDP hits 30-year low

Total government spending on R&D was around A$12 billion in 2022-23

Australia has hit its lowest level of government spending on research and development as a share of GDP in 30 years, the Department of Industry, Science and Resources has said.

In a June 2023 budget estimates hearing, department officials agreed that the government was spending only 0.49 per cent of GDP on R&D.