Hungarian R&D expenditure below EU average

Innovation

pexels

In 2020, the R&D expenditure as a percentage of GDP stood at 1.6% in Hungary, according to data released by statistical agency Eurostat.

In 2020, Hungary spent EUR 2.196 billion on R&D.

In the same year, the Member States of the EU spent around EUR 311 billion on R&D. The R&D intensity, i.e. R&D expenditure as a percentage of GDP, stood at 2.3% in 2020, compared with 2.2% in 2019. However, this small increase is due to a decrease in GDP as a result of the COVID-19 pandemic, Eurostat notes.

The highest R&D intensity was recorded in Belgium and Sweden (3.5% of GDP), followed by Austria (3.2%) and Germany (3.1%). 

At the opposite end of the spectrum, six member states recorded a R&D intensity below 1% of GDP: Romania (0.5%), Malta and Latvia (both 0.7%), Cyprus, Bulgaria, and Slovakia (all 0.9%).

Hungary Signs HUF 6 bln Tied Aid Deal With Kenya Analysis

Hungary Signs HUF 6 bln Tied Aid Deal With Kenya

Moldovan Pensions to be Increased as of April 1 World

Moldovan Pensions to be Increased as of April 1

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic... Appointments

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic...

Hungarian Wine Marketing Agency to Host Summit Drinks

Hungarian Wine Marketing Agency to Host Summit

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.