Latvia’s R&D funding share of GDP is second lowest in Europe
Latvia spends 0.51% of its GDP, which is the second lowest index among EU member states, on research and development, according to data from Eurostat.
According to this data, countries that allocated less money than Latvia on R&D in 2017 include Romania (0.5% of GDP). The funding share was only larger in Malta (0.55%), Bulgaria (0.75%), Croatia (0.86%), Slovakia and Lithuania (0.88%).
Estonia allocated 1.29% of GDP to R&D in 2017. The largest share of finances was allocated by Sweden (3.33%), Austria (3.16%), Denmark (3.06%), Germany (3.02%) and Finland (2.76%). Compared to 2007, financing for R&D has increased in 21 EU member states, has declined in 6, and has remained unchanged in Malta since 2007.
The largest funding increase in ten years was recorded in Austria (from 2.42% to 3.16%) and Belgium (from 1.84% to 2.58%), whereas the biggest decline was recorded in Finland (from 3.35% to 2.76%) and Luxembourg (from 1.59% to 1.26%). Latvia’s decline was 0.4 percentage points (from 0.55% to 0.51%). Funding allocation in Lithuania has increased by 0.8 percentage points (from 0.8% to 0.88%), whereas Estonia has experienced a 0.22 percentage point increase from 1.07% to 1.29%.