EU spent $387Billion on research and development in 2021

R&D’s share in union’s GDP down in 2021 on annual basis

The EU’s research and development (R&D) expenditures in 2021 totaled €328 billion ($387 billion), up 6% on a yearly basis,Eurostat said on Tuesday.

The R&D’s share of the union’s overall GDP last year was 2.27%, down from 2.31% in 2020, the 27-member bloc’s statistical bureau said.

The EUR/USD exchange rate last year was 1.18.

“R&D is a major driver of innovation, and R&D expenditure and intensity are two of the key indicators used to monitor resources devoted to science and technology worldwide,” it added.


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