Eurostat: 2.03 percent of the EU’s GDP was spent on research and development last year

The Member States spent 2.03 percent of the European Union’s gross domestic product (GDP) on research and development (R & D) last year, just as in the previous two years. Ten years earlier, in 2006 this rate was 1.76 percent.

According to the first estimate of the European Union’s Statistical Office (Eurostat) published on Friday, the EU Member States spent 302 billion 220 million euros on research and development (R & D) in 2016, compared with the 216 billion 330 million euros of ten years earlier. (MTI)