The Turkish Statistical Institute released the 'Research and Development Activities for 2019' report and revealed Turkey's latest R&D spending to GDP ratio.
Accordingly, Turkey's R&D expenditure to GDP ratio rose to 1.06 percent in 2019. Commenting on the results, Minister of Industry and Technology Mustafa Varank underlined that the outcome is a “record in the last ten years" and said, “The private sector has been revealing the innovation spirit just as the way we want it. The Turkish private sector provided 64.2 percent of the country's whole R&D expense and 56.3 percent of its financing."
In addition, the amount allocated for R&D activities by the Turkish government reached TRY 14.9 billion in 2019, read TurkStat report.