Alexa
  • Directory of Taiwan

Taiwan's R&D spending as share of GDP rose for 3rd year in a row

Taiwan's R&D spending as share of GDP rose for 3rd year in a row

Taipei, July 15 (CNA) According to statistics released by the Ministry of Economic Affairs (MOEA) today, Taiwan's 2013 research and development (R&D) expenditures accounted for 2.99 percent of the GDP (Gross Domestic Product), representing an increase for the third consecutive year. Deeply impacted by the financial crisis in 2009, which led to a shrinking market, Taiwan decelerated its pace of investment in R&D with the growth rate for the year dropping to 4.5 percent. As the global economy recovered in recent years, Taiwan's investment in R&D began to regain steam with growth rates ranging from 4 to 7 percent, and annual growth in 2013 reaching 5.5 percent. The MOEA suggested that the rapid development of mobile devices and the application of smart technology prompted the continuous investment in R&D by Taiwan's semi-conductor producers. This enabled the manufacturers to expand their advanced production processes and therefore increase their competitiveness. (By Ken Chao)


Updated : 2021-09-18 14:18 GMT+08:00