Despite the painful austerity and the shortening of budgets in the Lithuanian economy, there is one bright spot in the spending horizon. Today, Statistics Lithuania reported that the country’s spending on research and development (R&D), a crucial factor in innovation and value-added products, grew to 0.92% of GDP in 2011. In more specific figures, the spending rose by 28.5% (974.3 million litas – EUR 282.4 mn)
The statistical authority confirmed that in 2010, the expenditure on this field stood at 758.2 million litas, accounting for 0.8% of Lithuania’s GDP. In 2011, spending on research and development in higher education amounted to almost 530 million litas (54.3% of total expenditure), the business companies’ sector took 26.1% of the investments (254.1 million litas) and the remaining 19.6% (191.1 million litas) was used in the general government sector.
The R&D expenditure ration and GDP between higher education and the government sector was calculated at 0.68% (an increase since 2010) and in the business companies’ sector, 0.24% (up from 0.23% in 2010). The research labour force in the country was comprised of 22,400 people, including 7,800 specialists with a science degree.