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Business expenditure on R&D rises in 2023

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16 December 2024
Issue: 4966 / Categories: News

Expenditure on research and development (R&D) performed by UK businesses was £50bn in 2023 an increase of £1.4bn since 2022 (2.9%) according to the data for 2023 from the Office for National Statistics’ (ONS) annual business enterprise research and development (BERD) survey.

The pharmaceuticals product group made the largest contribution (£8.7bn) to the total of business R&D performed in 2023 (17.4% of the total performed).

London had the largest regional value of business R&D performed in 2023 at £11bn (22%); this was followed by the east of England at £9.7bn (19.5%) and the south east at £8.5bn (16.9%).

When measuring the value of R&D performed by industry the scientific R&D industry performed the most at £12.7bn (25.3%).

Estimates in the ONS release have been compiled based on the new sampling and results methods that were introduced for the 2022 survey. They are...

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