University spending on R&D as a share of GDP has recorded its biggest two-year decline in more than 30 years, despite total investment by the higher education sector climbing 10 per cent since the pandemic.
New data from the Australian Bureau of Statistics released on Friday reveals higher education expenditure on R&D (HERD) reached almost $13.99 billion in 2022, up from $12.67 billion in 2020.
Applied research accounted for more than half of spending, at $7.82 billion (up 17 per cent), with pure basic research, strategic basic research and experimental development worth $2.45 billion, $2.39 billion and $1.34 billion, respectively.
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