Economy

Turkey: R&D spending to GDP ratio highest in a decade

Turkey's R&D expenditure to GDP ratio increased to 1.06% in 2019, says minister

Tuba Sahin   | 23.10.2020
Turkey: R&D spending to GDP ratio highest in a decade

ANKARA

Turkey’s research and development (R&D) expenditure to GDP ratio increased to 1.06% in 2019, the highest in a decade, the country's industry and technology minister said on Friday.

“We broke the record for the past 10 years,” Mustafa Varank wrote on Twitter.

He said 64.2% of all R&D spending and 56.3% of its financing came from the private sector.

According to the Turkish Statistical Institute, the government spent 14.9 billion Turkish liras ($2.6 billion) on R&D activities last year.

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