Economy Research and development (R&D) continued to grow, expanding by £1.4 billion to £33.1 billion in 2016, an increase of 4.3%, above the long-term annual average increase of 4.1% since 1990. Most of this year's growth came from the business sector, where it grew by £1.2 billion to £22.2 billion, an increase of 6%. Total R&D expenditure in the UK in 2016 represented 1.67% of gross domestic product (GDP), unchanged from 2015, remaining below the European Union (EU-28) provisional estimate of 2.03%. As a percentage of GDP, the UK ranked 11th of all EU countries, unchanged from 2015. Funding of UK R&D from overseas fell for the second year running and in 2016 is 7% lower than the all-time high reached in 2014 of £5.6 billion. |
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