Despite the substantial increase of 23,5 percent observed in R&D expenditure in 2019 relative to 2018, the share of the GDP of Cyprus devoted to R&D activities continues to be low compared to other countries.

 For example, the share of R&D expenditure to the GDP of the Member States of the European Union stands at 2,20 percent on average (ranging from 0,50 percent in Romania, 0,57 percent in Malta and 0,64 percent in Latvia to 3,18 percent in Germany, 3,19 percent in Austria and 3,40 percent in Sweden).

By sector of performance, the business enterprises accounted in 2019 for EUR70,7 million or 43,0 percent of total R&D expenditure, the higher education institutions for EUR63,0 million or 38,3 percent, the private non-profit institutions for EUR18,6 million or 11,3 percent and the government for EUR12,2 million or 7,4 percent, comparing with shares of 40,5 percent, 40,1 percent, 11,0 percent and 8,4 percent respectively in 2018.