Spending on research and development (R & D) is a major accelerator of innovation, which is crucial to the enrichment of society and the building of the country's position in the international arena. According to Eurostat data, spending on R & amp; D varies widely across the EU.
In 2019, more than € 306 billion was spent in the EU on R & amp; D, representing 2.19%. EU GDP. This is also a slight increase compared to 2018, when spending on R & D amounted to 2.18%. However, this is not a momentary trend, as spending on innovation has increased regularly over the years. In 2009, the EU average was 1.97%.
Eurostat points out that the level of EU spending was much lower compared to the countries that spend the most on R & amp; D in the world. South Korea spent 4.52 percent on R & D in 2018. GDP, Japan 3.28 percent. (2018 data), and the United States 2.82 percent. (data 2018). On the other hand, China was at a similar level to the EU, with spending equal to 2.08 of GDP.
Sweden, Austria and Germany European primaries
The leader in the EU in terms of spending on innovation is Sweden, which allocates 3.39% for this purpose. GDP. Above 3%. issued by Austria (3.19%)) and Germany (3.17%).). It should also be noted that just behind them were three other countries that were close to reaching 3 percent. GDP for research and development. In this case, we are talking about Denmark (2.96%).), Belgium (2.89%).) and Finland (2.79%).). They were also the only countries to achieve a level above the EU average. This means that R & amp; D spending in the EU is very unevenly distributed, with only six community countries increasing the EU average.
However, the EU average was higher than in countries such as the UK (1.76%).), Turkey, or Russia (both countries spent 1.03 percent on R & D. GDP).
Romania at the grey end of the chart
At the other end of the scale is Romania, which spends only 0.48% on R & amp; D. GDP. This is by far the worst result. However, in addition to Romania, there are seven other countries that spend less than 1% on innovation. GDP. These are mainly the countries of the so-called new EU. These include Lithuania, Bulgaria, Slovakia, Malta, Cyprus and Latvia. The raisin in this list is Ireland, which is generally associated with innovative technology companies like Google or Apple. However, the presence of digital giants, which is largely due to liberal tax laws, does not affect development spending.
Poland is practically in the middle of the table with R & amp; D spending at 1.32%. This is better than, for example, in Greece (1.27%).), or Spain (1.14 percent.), but for this much worse than in Slovenia (2.04 percent.) and the Czech Republic (1.94%).).
It is worth noting that the recommended level of R & amp; D expenditure is 2%. GDP. However, only 9 out of 27 EU countries are implementing these recommendations. This is too low if Europe as a whole wants to compete with global giants like China and the US. For now, it can be seen that the innovation cart in the EU is being pulled by Germany with the help of several smaller countries. However, it should be borne in mind that these economies are incomparably smaller than the German Moloch.
Private companies with the highest expenditure
The main sector where funds are spent on innovation is the business sector. That's where 66 percent is spent. in second place is the higher education sector with spending at the level of 22 percent. The government sector accounts for 11%. and the private non-profit sector 1 percent.
Eurostat points out that the level of EU spending was much lower compared to the countries that spend the most on R & amp; D in the world. South Korea spent 4.52 percent on R & D in 2018. GDP, Japan 3.28 percent. (2018 data), and the United States 2.82 percent. (data 2018). On the other hand, China was at a similar level to the EU, with spending equal to 2.08 of GDP.
Sweden, Austria and Germany European primaries
The leader in the EU in terms of spending on innovation is Sweden, which allocates 3.39% for this purpose. GDP. Above 3%. issued by Austria (3.19%)) and Germany (3.17%).). It should also be noted that just behind them were three other countries that were close to reaching 3 percent. GDP for research and development. In this case, we are talking about Denmark (2.96%).), Belgium (2.89%).) and Finland (2.79%).). They were also the only countries to achieve a level above the EU average. This means that R & amp; D spending in the EU is very unevenly distributed, with only six community countries increasing the EU average.
However, the EU average was higher than in countries such as the UK (1.76%).), Turkey, or Russia (both countries spent 1.03 percent on R & D. GDP).
Romania at the grey end of the chart
At the other end of the scale is Romania, which spends only 0.48% on R & amp; D. GDP. This is by far the worst result. However, in addition to Romania, there are seven other countries that spend less than 1% on innovation. GDP. These are mainly the countries of the so-called new EU. These include Lithuania, Bulgaria, Slovakia, Malta, Cyprus and Latvia. The raisin in this list is Ireland, which is generally associated with innovative technology companies like Google or Apple. However, the presence of digital giants, which is largely due to liberal tax laws, does not affect development spending.
Poland is practically in the middle of the table with R & amp; D spending at 1.32%. This is better than, for example, in Greece (1.27%).), or Spain (1.14 percent.), but for this much worse than in Slovenia (2.04 percent.) and the Czech Republic (1.94%).).
It is worth noting that the recommended level of R & amp; D expenditure is 2%. GDP. However, only 9 out of 27 EU countries are implementing these recommendations. This is too low if Europe as a whole wants to compete with global giants like China and the US. For now, it can be seen that the innovation cart in the EU is being pulled by Germany with the help of several smaller countries. However, it should be borne in mind that these economies are incomparably smaller than the German Moloch.
Private companies with the highest expenditure
The main sector where funds are spent on innovation is the business sector. That's where 66 percent is spent. in second place is the higher education sector with spending at the level of 22 percent. The government sector accounts for 11%. and the private non-profit sector 1 percent.
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