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Portuguese R&D spending hits another record high

Image: fdecomite [CC BY 2.0], via Flickr

Spending reaches €4.1 billion, or 1.73 per cent of country’s GDP

Portugal’s total spending on R&D has hit another record high, rising to €4.1 billion or 1.73 per cent of GDP in 2022, according to preliminary government data.

The announcement on 31 July follows one in January that the country’s R&D spending in 2021 was the highest since records began in 1982, reaching €3.6bn.

The latest figures suggest spending has now risen for seven consecutive years, according to the government.

Growth appeared to be driven mostly by the commercial sector in 2022, which the government said increased its R&D spending by 19.4 per cent.

But growth was found across all categories, it said, with the higher education sector increasing its R&D spending by 6.9 per cent.

Portugal still spent below the EU average of 2.19 per cent of GDP. The bloc as a whole has a target of 3 per cent.