Spending in research and development in Cyprus low according to Eurostat

Cyprus had one of the lowest shares of research and development as a percentage of its GDP in 2023, having however recorded some increase during the preceding decade from 0.48% in 2013 to 0.68 in 2023, according to data released by Eurostat.

On the EU level, member states in total spent 381.4 billion euro on research & development (R&D) in 2023, which is 6.7% more than in the previous year (357.4 billion euro) and 57.9% more than in 2013 (241.5 billion euro).

According to provisional data, spending in R&D in Cyprus in 2023 amounted to 213.5 million euro. In 2022, spending in Cyprus had reached 207 million euro, from 87.5 million euro in 2013.

Across the EU, R&D intensity, defined as R&D expenditure as a percentage of GDP, remained stable compared with 2022 (2.2%). Between 2013 and 2023, R&D intensity in the EU increased by 0.1 percentage points (pp).

Between 2013 and 2023, R&D intensity increased in 19 EU countries, with the largest increases recorded in Belgium (1.0 pp), Poland (0.7 pp) and Greece (0.7 pp).

In 2023, five EU countries registered an R&D intensity above 3%. The highest R&D intensity was recorded in Sweden (3.6%), Belgium and Austria (3.3% each). Germany and Finland followed with 3.1% each.

By contrast, five EU countries reported R&D intensity below 1%: Romania (0.5%), Malta (0.6%), Cyprus (0.7%), Bulgaria and Latvia (both 0.8%).

The business enterprise sector continued to account for the largest share of R&D expenditure in the EU. In 2023 it represented 66% of EU R&D spending, totalling €253.1 billion. It was followed by the higher education sector (€81.7 billion; 21%), the government sector (€41.0 billion; 11%), and the private non-profit sector (€5.5 billion; 1%).

(Source: CNA)