Spending in research and development in Cyprus low according to Eurostat
Spending in research and development in Cyprus low according to Eurostat
12/12/2024 7:18

Cyprus had one of the lowest shares of research and development as a percentage of its GDP in 2023, having however recorded some increase during the preceding decade from 0.48% in 2013 to 0.68 in 2023, according to data released by Eurostat, the statistical service of the EU.

On the EU level, member states in total spent 381.4 billion euro on research & development (R&D) in 2023, which is 6.7% more than in the previous year (357.4 billion euro) and 57.9% more than in 2013 (241.5 billion euro).

According to provisional data, spending in R&D in Cyprus in 2023 amounted to 213.5 million euro. In 2022, spending in Cyprus had reached 207 million euro, from 87.5 million euro in 2013.

Across the EU, R&D intensity, defined as R&D expenditure as a percentage of GDP, remained stable compared with 2022 (2.2%). Between 2013 and 2023, R&D intensity in the EU increased by 0.1 percentage points (pp).

Between 2013 and 2023, R&D intensity increased in 19 EU countries, with the largest increases recorded in Belgium (1.0 pp), Poland (0.7 pp) and Greece (0.7 pp).

In 2023, five EU countries registered an R&D intensity above 3%. The highest R&D intensity was recorded in Sweden (3.6%), Belgium and Austria (3.3% each). Germany and Finland followed with 3.1% each.

By contrast, five EU countries reported R&D intensity below 1%: Romania (0.5%), Malta (0.6%), Cyprus (0.7%), Bulgaria and Latvia (both 0.8%).

The business enterprise sector continued to account for the largest share of R&D expenditure in the EU. In 2023 it represented 66% of EU R&D spending, totalling €253.1 billion. It was followed by the higher education sector (€81.7 billion; 21%), the government sector (€41.0 billion; 11%), and the private non-profit sector (€5.5 billion; 1%).

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