Belgium is a small country in Europe but has made great strides in research and development expenditure as a percentage of GDP. According to the World Bank, Belgium’s R&D expenditure (% of GDP) was 3.4772% in 2020, up from 2.77% in 2018. This marks the first time Belgium has passed the 3% mark for R&D expenditure as a share of GDP.
The Federal Science Policy Office (BELSPO) conducted an R&D survey among public, private, and private non-profit organizations to determine this data. The survey found that the highest R&D intensity was recorded in Belgium and Sweden (3.5% of GDP), followed by Austria (3.2%) and Germany (3.1%).
In addition to these countries, OECD Data reported that gross domestic spending on research and development (GERD) as a percentage of GDP was 3.16% in 2019 for Belgium and 2.86% in 2018. This data shows that Belgium is making significant progress towards increasing its R&D expenditure as a share of GDP over time.
Overall, it is clear that Belgium is making significant progress towards investing more in research and development activities as a proportion of its GDP each year. This will help ensure that the country remains competitive on the global stage regarding technological innovation and economic growth.