The analysis of global business enterprise R&D expenditure in administrative and support service activities reveals that the United Kingdom leads with $3.21 billion in 2023. Spain and South Korea follow, with notable year-on-year growth rates of 27.52% and 6.26%, respectively. Countries like Canada, the United States, and New Zealand experienced declines, with the U.S. seeing a significant decrease of 26.89%. Finland and Poland showed promising upticks of 18.78% and 15.63%. Over the last five years, most countries have sustained moderate to steady growth, with some fluctuations.
Future trends to watch:
- Continued growth in European countries indicating a stronger focus on R&D.
- Potential rebound opportunities for the United States and Canada with strategic investments.
- Increased competition and collaboration between high-growth countries like Finland and Spain.
- Technological innovations and digital transformations likely driving future R&D expenditures.
Top countries in Business Enterprise R&D Expenditure in Administrative and Support Service Activities by Country
| # | 10 Countries | Million US Dollars PPP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United Kingdom | 3,210 | 2021 | +15.82% | View data | |
| 2 | 2 Spain | 277.49 | 2023 | +16.1% | +27.52% | View data |
| 3 | 3 South Korea | 174.58 | 2023 | +5.11% | +6.26% | View data |
| 4 | 4 Canada | 110.56 | 2023 | +0.081% | -4.28% | View data |
| 5 | 5 Germany | 105.52 | 2023 | +4.08% | +8.8% | View data |
| 6 | 6 Japan | 94.77 | 2023 | +3.09% | -0.11% | View data |
| 7 | 7 Poland | 53.81 | 2023 | +5.56% | +15.63% | View data |
| 8 | 8 Hungary | 30.01 | 2023 | +5.8% | +4.34% | View data |
| 9 | 9 Finland | 25.48 | 2023 | +8.2% | +18.78% | View data |
| 10 | 10 Taiwan | 18.1 | 2023 | +4.63% | +9.64% | View data |
