In Statistics Canada’s annual report on industrial R&D characteristics, the collapse of oil and gas prices and resulting downturn in the sector is cited a major contributor to the decline in in-house industrial R&D spending, which dropped 5.8% between 2014 and 2015 from $18.2 billion to $17.2 billion.
Topic: industrial R&D
US companies performed US$395.6 billion in R&D in 2013, 18% ($73.1 billion) of which was performed in other countries, according to the latest data from the National Science Foundation. The closely watched manufacturing sector accounted for the bulk of industry R&D outlays ($272.6 billion/68.9%) led by computer and electronics products ($85.5 billion) and pharmaceuticals and…
Business in-house R&D spending totalled $16 billion in 2013, $700 million lower than pre-recession levels in 2007 as increases by resources-based firms failed to offset major declines in R&D outlays by Ontario-based manufacturers, according to a new report from Statistics Canada.