Investment in research and development (R&D) increased remarkably since the end of the 1990s, when Austria's R&D intensity (aggregate R&D expenditure as a percentage of GDP) was below the OECD average and significantly lower than in other small, open economies (to which Austria prefers comparison). The European Union target of an R&D intensity of 3% was met in 2014. In 2016, R&D intensity stood at 3.09%, the sixth highest among OECD countries and the second highest in the EU28.