Scientific research underpins a quarter of Australia’s economic output, study finds

Scientific Research
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Scientific advances over the past 20 to 30 years have underpinned an estimated $330 billion of Australia’s economic growth, according to a new report by the Australian Academy of Science.

Key points:
• Findings demonstrate importance of science, outgoing chief scientist says
• Biological advances contributing $65 billion to economy annually
• Medical advances valued at more than $83 billion

The research, produced by the Centre for International Economies, found the areas of physical, mathematical and biological sciences contributed to 26 per cent of Australian economic activity.

Read more on ABC NEWS

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