As of 2023, Canada's government budget for R&D stood at an actual value of 10.78 billion USD PPP. The forecast from 2024 indicates a consistent yearly increase, starting at 10.94 in 2024 and reaching 11.68 billion USD PPP by 2028. The year-on-year growth displays incremental progress approximately between 1.7% and 1.8% annually over the forecast period. This positive trajectory suggests a stable commitment to advancing R&D. Over the five years, this implies a compounded annual growth rate (CAGR) of about 1.8%.
Future trends to watch for include the impact of technological advancements and global economic factors influencing R&D prioritization and funding decisions. Additionally, shifts in political landscapes or strategic alliances could alter budgetary allocations dynamically.
