
Cyprus spent €213.6 million on research and development (R&D) in 2023, equivalent to 0.68 per cent of GDP , according to data released by the Statistical Service (Cystat) on Thursday.
This marks a 3.2 per cent increase from 2022, when expenditure stood at €207 m , 0.70 per cent of GDP .
Although R&D spending has grown steadily over the past decade, Cyprus still lags behind the EU average of