Estonia Leaps Ahead of the EU Curve in R&D Investment Ratio
Spending on research and development in 2011 increased to 2.41 percent of GDP in 2011, exceeding the EU average - 2.03 percent - for the first time.
Statistics Estonia revealed that the country has increased its investments into research and development to 384.5 million euros in 2011, a two-thirds increase over 2010. Investments into developing technologies in the shale oil industry accounted for one-third of the sum.
Not including the oil refining sector, private sector R&D spendng increased 29 percent faster than in the non-profit-seeking institutional sector. Taken together with the oil industry, growth doubled.
The development of the institutional sector, led by universities, increased 22 percent in 2011 from 2010.
The share of state-funded private sector investments increased by 27 percent, according to Statistics Estonia.
Researchers increased their working hours by 11 percent. The number of people with Ph.Ds increased by 89 - three percent.