INS: Romanian Companies’ Innovation Invests Slightly Up In ‘04-‘06

Most of the innovations targeted improved product and service quality (41.5%), followed by improved products and services (36.6%), INS said in a statement.

Large companies were more innovative than small ones in the mentioned interval, as two out of five large companies launched or implemented new products or processes or upgraded old ones, compared to only one out of five in the case of small companies.

Vehicle, equipment and software purchases represented the core activity in accomplishing innovations, INS said.

Overall expenses with innovation operations reached 6.42 billion lei (EUR1-RON3.6561) in 2006.

According to the statistics institute, innovation potential in Romania, although low compared to the EU average, maintained on an upward trend between 2000 and 2006.

Latest data provided by the EU’s statistical office Eurostat indicate innovation operations in the EU-27 bloc reached 40% of the business activity in 2002-2004.