Bermuda R&D Spending
Research and development expenditure as % of GDP GB.XPD.RSDV.GD.ZS
Bermuda's r&d spending was 0.23% in 2020, ranked 69th globally. This represents a 14.8% decrease from 2019. Data from World Bank, covering 1997–2020.
Overview
Bermuda's r&d spending stood at 0.23% in 2020, a decline of +0.04% from 2019. Bermuda ranked 69th globally.
Bermuda's Research and Development (R&D) spending has exhibited a gradually increasing trend since its all-time low in 1997, when it stood at 0.06 percent of GDP. By 2019, the island nation had reached an all-time peak of 0.26 percent, before slightly declining to 0.23 percent in 2020. This level of R&D spending positions Bermuda at #69 globally, closely ranking with Panama at 0.23 percent. In comparison to other countries, Bermuda's R&D expenditure remains relatively underdeveloped compared to peer nations such as Moldova, which boasts a higher R&D spending ratio of 0.24 percent. The gradual increase in R&D spending in Bermuda might be attributed to its growing economy and efforts to stay competitive in the global market. However, if the global economy continues to shift towards digitalization and innovation, Bermuda may need to further invest in R&D to maintain its economic growth trajectory and remain competitive in the long run.
Data & projection
| Year | R&D Spending | YoY change | Rank |
|---|---|---|---|
| 2020 | 0.23% | −0.04% | #69 |
| 2019 | 0.26% | +0.04% | #72 |
| 2018 | 0.23% | +0.03% | #68 |
| 2015 | 0.20% | +0.00% | #81 |
| 2014 | 0.19% | −0.01% | #71 |
| 2013 | 0.20% | −0.04% | #77 |
| 2012 | 0.23% | −0.03% | #67 |
| 2011 | 0.26% | +0.08% | #67 |
| 2010 | 0.18% | −0.00% | #76 |
| 2009 | 0.18% | +0.01% | #75 |
| 2008 | 0.17% | +0.01% | #76 |
| 2007 | 0.16% | +0.10% | #78 |
| 1997 | 0.06% | – | #69 |
Analysis
Bermuda's r&d spending was 0.23% in 2020, a decline of −0.04% from 2019.
Frequently Asked Questions
Bermuda's r&d spending was 0.23% in 2020. Ranked 69th globally. This represents a 14.8% decrease from the previous year.
Bermuda's r&d spending peaked at 0.26% in 2019.
The lowest r&d spending in Bermuda was 0.06% in 1997.
Bermuda ranks 69th globally in r&d spending as of 2020.
The World Bank indicator code is GB.XPD.RSDV.GD.ZS. Data sourced from World Bank.
The r&d spending of Bermuda in 2020 was 0.23%. This ranks 69th in the world.
Cite this page
@misc{historysaid_bermuda_rd-spending,
title = {Bermuda R&D Spending},
url = {https://historysaid.com/bermuda/rd-spending/},
publisher = {HistorySaid},
year = {2026}
}