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February 1, 2023

Romania invested EUR 558 M in R&D projects last year

Last year Romania invested EUR 558 M in research and development projects, a level higher than the investments made by Bulgaria, Croatia or Luxembourg, however when expressed as percentage of GDP the investments in research and development projects totaled only 0.39 per cent of GDP, the lowest level in the EU.
The share held by research and development in Romania’s GDP has remained almost at the same level it had in 2004, back when R&D investments stood at 0.38 per cent of GDP (EUR 235 M), according to Eurostat data published on Monday.
Last year in the European Union the average level stood at 2.02 per cent of GDP, the equivalent of approximately EUR 273.5 bln. Compared to 2004, the sums earmarked for research and development have risen from 1.76 per cent of GDP or EUR 194.3 bln.
Percentage-wise, Nordic states have focused the most on the research and development sector.
Thus, last year Finland earmarked 3.32 per cent of GDP for research and development (EUR 6.7 bln), followed by Sweden (3.21 per cent, approximately EUR 14 bln) and Denmark (3.05 per cent, EUR 7.73 bln).
Value-wise, the top places were held by Germany (EUR 82.5 bln or 2.94 per cent of GDP), France (EUR 47.2 bln, 2.23 per cent of GDP), Great Britain (EUR 32.8 bln, 1.36 per cent of GDP) and Italy (EUR 20.2 bln, 1.25 per cent of GDP).
Bulgaria has earmarked for research and development 0.65 per cent of GDP, the equivalent of EUR 267 M, Croatia 0.81 per cent or EUR 355 M, Luxembourg 1.16 per cent or EUR 523 M, Hungary 1.41 per cent or EUR 1.41 bln and Poland 0.87 per cent or EUR 3.43 bln.

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