€133,1 Million Cyprus Total R&D Expenditure For 2028

€133,1 Million Cyprus Total R&D Expenditure For 2028

Local Thursday, 16 July, 2020

Following data released by Cystat on scientific research and experimental development, total R&D expenditure in Cyprus in 2018 was estimated at €133,1 million which corresponds to 0,63% of the Gross Domestic Product, compared to €110,2 million, or 0,55% of the GDP in 2017.

Despite the substantial increase of 20,8% observed in R&D expenditure in 2018 relative to 2017, the share of the GDP of Cyprus devoted to R&D activities continues to be low compared to other countries.  For example, the share of R&D expenditure to the GDP of the member-states of the European Union stands at 2,12% on average (ranging from 0,50% in Romania, 0,57% in Malta and 0,64% in Latvia to 3,13% in Germany, 3,17% in Austria and 3,32% in Sweden).

It is worth noting that Cyprus exhibits one of the highest average annual growth rates in R&D expenditure, at 10,39% over the period 1998 – 2018.

By sector of performance, the business enterprises accounted in 2018 for €53,9 million or 40,5% of total R&D expenditure, the higher education institutions for €53,4 million or 40,1%, the private non-profit institutions for €14,7 million or 11,0% and the government for €11,1 million or 8,4%.

In the business enterprise sector, the information and communication branch constituted the principal source of R&D activity, with a total R&D expenditure of €28,3 million, while of importance was also the contribution of the manufacturing industry (and particularly the manufacturers of basic pharmaceutical products and preparations and of computer, electronic and optical products and electrical equipment) with €19,7 million.

About 18,4% of R&D activity in 2018 was financed from government funds with €24,5 million, as compared with €21,9 million or 19,9% in 2017, while €20,5 million was drawn from the budget of public universities and €34,4 million from sources from abroad (including European Union funds). An amount of €53,7 million or 40,3% of the total constituted the contribution of the private sector.

The biggest part of R&D expenditure was devoted to the natural sciences with €58,0 million, while engineering and technology absorbed €37,1 million, the social sciences €18,2 million, the medical sciences €7,4 million, the agricultural sciences €6,6 million and the humanities €5,8 million. The number of persons engaged in R&D activities in 2018 stood at 3,754 compared to 3,320 in 2017. In full-time equivalent terms, this number is estimated at 1,826 persons, of which 707 or 38,7% were women. Of these persons, 34,4% were PhD degree holders.

Source: Gold News

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