Investment in R&D is a fundamental strategy for a country's competitiveness. Despite several initiatives and development policies, as well as notorious cases of success and of international reference, Latin America still has a timid stance on the subject compared to the great economies. According to UNESCO, the region ranks fourth when it comes to investment as a percentage of GDP, a position recently taken from West Asia. Based on this, check out which Latin American countries invest the most in R&D.
10. Panama
R&D spending as % of GDP: 0.1%
R&D spending in PPP$: $116,041.7k
9. Bolivia
R&D spending as % of GDP: 0.2%
R&D spending in PPP$: $78,300.5k
8. Colombia
R&D spending as % of GDP: 0.3%
R&D spending in PPP$: $1,954.9M
7. Venezuela
R&D spending as % of GDP: 0.3%
R&D spending in PPP$: $1,833.6M
6. Ecuador
R&D spending as % of GDP: 0.4%
R&D spending in PPP$: $810,933.4k
5. Chile
R&D spending as % of GDP: 0.4%
R&D spending in PPP$: $1,517.6M
4. Mexico
R&D spending as % of GDP: 0.4%
R&D spending in PPP$: $9,458.5M
3. Costa Rica
R&D spending as % of GDP: 0.6%
R&D spending in PPP$: $413,358.2k
2. Argentina
R&D spending as % of GDP: 0.6%
R&D spending in PPP$: $5,070.9M
1. Brazil
R&D spending as % of GDP: 1.3%
R&D spending in PPP$: $42,167.8M
Source: UNESCO
Image: Pixabay
