The report on “Research and Development (R&D) Expenditure and Personnel indicators in Greece in 2017”, which has been issued by the Greek National Documentation Centre (NDC-EKT), indicates that Research and Development (R&D) expenditure in Greece in 2017 exceeded €2 billion, equal to 1.14% of the national gross domestic product (GDP), thus reaching an all-time high.
The summary report presents the preliminary figures for the main R&D Expenditure and Personnel indicators in Greece in 2017. R&D statistics in Greece are produced by the National Documentation Centre, member of the Hellenic Statistical System, with the cooperation of the Hellenic Statistical Authority (ELSTAT). Data presented in the report are the preliminary data of the main indicators that have already been transmitted to the European Statistical Office (Eurostat).
According the report, R&D expenditure in Greece reached €2.033 billion in 2017, which marked an increase of €278.8 million (or 1 5.9%) when compared to 2016. Similarly, the R&D Intensity indicator, representing R&D expenditure as a percentage of GDP, rose by 0.13 percentage points, reaching 1.14% from 1.01% in 2016. This is consistent with the steady upward trend of R&D spending over the recent years: from a 0.67% of the national GDP in 2011, to 0.97% in 2015, until its all-time high last year.
The Business Enterprise sector (BES) is, for the second consecutive year, the largest contributor to national R&D expenditure. BES R&D expenditure has shown a steady rise in recent years, with a 33.8% increase from 2016 to 2017, following a previous 31.8% increase from 2015 to 2016. In 2017 and in absolute terms, BES R&D expenditures amounted to €990.8 million, equal to 0.56% of the national GDP.
Government funding (which includes the Ordinary Budget and the Public Investment Programme, NSRF 2014-2020) amounted to €448.1 million (0.25% of GDP), a 2.1% increase compared to 2016. An increase in R&D expenditure was also recorded for the two remaining sectors: higher education (HES) and private and non-profit (PNP). In HES, the sum stands at €577.7 million (0.32% of GDP), indicating a 3.3% increase in comparison to 2016, while PNP contributed €16.4 million (0.01% of GDP), a 5.1% increase in comparison with 2016.
Also, a significant increase was recorded in private R&D investments inflow from abroad to companies operating in Greece. It amounted to 55.8 million euros in 2017 from 25.2 million euro in 2016, an increase of 121.4%.
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