Prospects for innovation performance on European level

In 2004, the European Commission implemented the Decision No 1608/2003/EC of the European Parliament and of the Council concerning the production and development of Community statistics on innovation. This triggered the awareness of the role of innovation and R&D on national and European level and thus the opportunity to step towards in-depth monitoring innovation performance through various indicators. The paper aims to investigate the trends in the selected innovation indicators (i.e., public funding, expenditures and innovation activities, types of innovation and products introduced, hampered innovation activities) to outline the development direction on the enterprise level using the Community innovation survey data for the 2002–2016 period. Using the basic time series analysis, the paper evaluates the progress according to the European Strategy on research and innovation. Furthermore, using the autocorrelation and autoregression methods, the paper also outlines the future direction in innovation performance on European level.