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R&D spending at 1.35% of GDP in 2017

Analysis

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Spending on research and development in Hungary came to HUF 517 billion last year, up 21% from 2016 at current prices, according to a summary of preliminary data compiled by the Central Statistical Office (KSH).

R&D spending was lifted, albeit from a low base, by grant money paid out at the end of 2016, the KSH noted, cited by national news agency MTI. R&D spending came to 1.35% of GDP in 2017.

Spending on R&D activities themselves, accounting for about 85% of overall R&D spending, was up 17%, while spending on investments in the R&D sector jumped almost 54%.

Businesses accounted for just under two-thirds of total R&D spending. Institutions of higher education and budget-funded research institutes accounted for equal shares of the rest.

Close to 61,000 people worked in R&D in Hungary last year, up 12% from 2016. About 70% were researchers and the rest were assistants.

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