The European Union spent €403.1 billion on research and development (R&D) in 2024, marking a 3.6% increase compared to the previous year, according to new data from Eurostat. Despite this growth in expenditure, R&D spending as a percentage of GDP remains stagnant at 2.24%, which is significantly below the long-standing target of 3%.
Only six EU countries have met or exceeded this ambitious goal. These countries are:
– Sweden (3.6%)
– Belgium (3.4%)
– Austria (3.3%)
– Finland (3.2%)
– Germany (3.1%)
– Denmark (3.0%)
On the other end of the spectrum, seven countries fall below 1% of GDP in R&D spending. Most of these are post-2004 member states, including:
– Romania (0.46%)
– Malta (0.51%)
– Cyprus (0.65%)
– Bulgaria (0.92%)
– Slovakia (0.98%)
– Luxembourg (0.99%)
Furthermore, the EU’s overall R&D spending and its rate of increase continue to lag behind those of its global competitors. Between 2014 and 2023, while the EU has seen some growth, other leading economies have outpaced it significantly.
Efforts to boost R&D investment remain critical for the EU as it seeks to enhance innovation, competitiveness, and sustainable economic growth across the region.
https://sciencebusiness.net/news/r-d-funding/eu-budget/eu-rd-spending-increases-still-falls-short-3-target