Private-sector agricultural research expenditures are estimated to have exceeded $3.4 billion in 1992, from only $0.2 billion in 1960. This implies an average annual rate of growth of 9.4 percent (3.5 percent if adjusted for inflation). The estimates also show that private agricultural research investments have grown most rapidly for chemical and biological technologies, such as agricultural chemicals, animal health, plant breeding, and applications of biotechnology. Growth has been less for farm machinery and food product research. However, data on private agricultural research spending are incomplete and fragmented. An extended yearly, cross-industry effort would provide more frequent, consistent, and representative information on private industry efforts.