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International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 08:59

Estonia's research, development spending below EU average in 2014

BC, Tallinn, 01.12.2015.Print version
In 2014, Estonia spent 1.46% of its gross domestic product or 286 million euros on research and development activities, which is 0.57 percentage points below the European Union average, reports LETA/BNS.

In comparison, Latvia contributed 0.68% of GDP or 163 million euros on such activities and Lithuania 1.02% of GDP or 370 million euros. The biggest relative contribution was made by Sweden and Finland whose contribution amounted to 3.18% and 3.17%, respectively.

 

The biggest part of Estonia's contribution or 44% was used to support higher education projects, which placed Estonia fourth in that category. In addition, 43% of the support was used for entrepreneurship support and 11% used to support national projects.

 

The Estonian parliament at the beginning of January 2014 adopted Knowledge Based Estonia 2014-2020, the country's third strategy for research and development and innovation that set tasks and goals for the next seven years. The strategy identifies four key goals – namely, for Estonian research to be of a high level and diverse, for research and development activity to be conducted in the interest of the Estonian society and economy, for research and development to make the structure of the economy more knowledge intensive, and for Estonia to be active and visible in international R&D and innovation cooperation.

 

Whereas the previous strategies focused primarily on developing Estonia's capability in research and development and innovation, this strategy is aimed at using the created potential for the good of Estonia's development and economic growth.

 

According to the strategy, the state should spend 3% of GDP on research and development activities by 2020.






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