R&D spending in Portugal reaches record high
- Valerie Charoux
- Dec 23, 2022
- 1 min read
R&D spending in Portugal reached a historical high in 2021 with EUR 3,609 million, that is 1.68% of GDP.
According to a study on Portugal’s Scientific and Technological potential, R&D spending as a percentage of GDP has been increasing steadily for the last six years. The outcome supports the fact that there is greater convergence with EU criteria. R&D spending increased by 8.1% compared to 2019 and by around 40% compared to 2017 when it amounted to 1.3% of GDP.
Portugal registered a higher investment in all economic sectors. The business sector increased its investment in R&D with spending increasing by 16.8% in 2021 to reach EUR 310 million. Private non-profit institutions registered an increase of 23.8%, while Government spending in R&D increased by 6%.
The business sector accounts for 60% of national spending in R&D. This reflects higher growth in qualified employment as well as their commitment towards scientific and technological development. In Portugal, the number of people working in the R&D field increased by 5.6% going from 66,044 in 2020 to 69,769 in 2021.
The study by the national statistical system is carried out according to the criteria established by Eurostat in line with OECD regulations.
