In 2023, Taiwan led the global R&D expenditure in the manufacture of leather and related products among the listed countries, although it experienced a slight decline of 0.54% compared to the previous year. South Korea showed a notable increase of 2.83%, followed by Portugal and the United Kingdom with positive growth of 4.33% and 4.52% respectively. Japan and Poland saw decreases in R&D expenditure, with Japan declining by 1.24% and Poland by 1.65%. Other countries like Slovenia and the Czech Republic had minimal variations in their expenditure.
Future trends to watch for include:
- Potential recovery in Taiwan's R&D sector, considering its leading position despite the recent dip.
- Continued growth in Portugal and the United Kingdom, potentially driven by innovation and investment in leather manufacturing technologies.
- Monitoring South Korea's upward trend as it increasingly prioritizes innovation in the sector.
Top countries in Business Enterprise R&D Expenditure in Manufacture of Leather and Related Products by Country
| # | 10 Countries | Million US Dollars PPP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Taiwan | 286.81 | 2023 | +3.57% | -0.54% | View data |
| 2 | 2 South Korea | 72.42 | 2023 | +4.11% | +2.83% | View data |
| 3 | 3 Japan | 31.69 | 2023 | +2.99% | -1.24% | View data |
| 4 | 4 Portugal | 20.43 | 2023 | +6.51% | +4.33% | View data |
| 5 | 5 United Kingdom | 8.39 | 2023 | +4.45% | +4.52% | View data |
| 6 | 6 Poland | 2.2 | 2023 | +8.9% | -1.65% | View data |
| 7 | 7 Slovenia | 1.53 | 2023 | -0.52% | -0.44% | View data |
| 8 | 8 Czech Republic | 1.45 | 2023 | +0.42% | +0.45% | View data |
| 9 | 9 Romania | 0.65 | 2021 | +295.15% | +6.36% | View data |
| 10 | 10 Estonia | 0.077 | 2021 | View data |
