Latvia’s R&D fund­ing share of GDP is sec­ond low­est in Europe

Baltic News Network - - News -

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%.

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