Hungarian business share of R+D spending among highest in Europe

The share of research and development (R+D) expenditures contributed by the business sector compared to the total was 74 percent in Hungary in 2016, the second highest rate among all EU member states, Eurostat said on Friday.

The main sector in which R+D activities were performed in 2016 was the business enterprise sector in all member states, far outsizing the government sector, the higher education sector and the private non-profit sector.

The highest share of R+D expenditure by the business sector was in Slovenia at 76 percent, followed by 74 percent in Hungary and 73 percent in Bulgaria.

Last year total R+D expenditures in Hungary reached 1.372 billion euros, some 1.21 percent of GDP.

In 2016 EU members all together spent 302 billion euros on R+D, equalling 2.03 percent of total GDP.

Source: MTI