
EU member states on average invested 2.3% of their GDP in public and private research and development in 2020, the year the pandemic engulfed the world, according to newest Eurostat figures.
In 2020, total EU investments amounted to €311 billion, €1 billion less the €312 billion invested in 2019. But as the bloc’s economy shrank as a result of the pandemic, the R&D expenditure took up a bigger slice of GDP, compared with 2.2% in 2019.