Over the past decade, Singapore's government research and development (R&D) expenditure has seen moderate but consistent growth with a few minor fluctuations. Notably, from 2013 to 2023, the R&D expenditure maintained an upward trend with minor year-on-year variations averaging around 0.4% in recent years. From 2023 onwards, the CAGR is forecasted to be 0.3%, and by 2028 the expenditure is expected to grow by approximately 1.49%

In 2023, the total government R&D expenditure stood at 2.25% of GDP.

Future trends to watch for:

Continued incremental growth in R&D expenditure aligned with GDP increases.
Potential shifts due to economic policy changes or new strategic priorities.
Investment in emerging technologies and innovation sectors potentially altering growth patterns.