IN 2021, the EU spent €328 billion on research & development (R&D), up 6% compared with the previous year (€310 billion). Compared with 2011, there was a 43.9% increase. These rates of change are in current prices, meaning they reflect both price changes and real changes in the level of expenditure.
European Commission in Brussels, Belgium.(Photo by Shutterstock.com).When looking at R&D intensity, i.e. R&D expenditure as a percentage of GDP, data show a decrease from 2.31% in 2020 to 2.27% in 2021. This fall could be explained by GDP rebound in 2021 after the significant drop in 2020 as a result of the COVID-19 pandemic. Still, compared with 2019 (2.23%), before the pandemic, R&D intensity increased by 0.04 percentage points (pp) in 2021, while compared with the previous 10 years, it increased by 0.25 pp.
R&D is a major driver of innovation, and R&D expenditure and intensity are two of the key indicators used to monitor resources devoted to science and technology worldwide.
Today, EU has released its 2021 facts and figures on R&D expenditures. Please go through the attached report. Israel and South Korea are among the world's top most expenditures on R&D. More details here
Sospeter Muhongo
EurGeol, CGeol
29.11.2022