Venezuela: Research and development expenditure

The latest value from 2014 is 0.34 percent, an increase from 0.32 percent in 2013. In comparison, the world average is 0.98 percent, based on data from 90 countries. Historically, the average for Venezuela from 2005 to 2014 is 0.24 percent. The minimum value, 0.15 percent, was reached in 2011 while the maximum of 0.34 percent was recorded in 2014. See the global rankings for that indicator or use the country comparator to compare trends over time.

The expenditure for R&D on the charts includes both private and public spending on research and development.

Definition: Gross domestic expenditures on research and development (R&D), expressed as a percent of GDP. They include both capital and current expenditures in the four main sectors: Business enterprise, Government, Higher education and Private non-profit. R&D covers basic research, applied research, and experimental development.