In 2023, the United Kingdom led in R&D expenditure with $28.19 million, followed by Germany and the Czech Republic. While the UK saw a 4.12% rise, Germany experienced a 6.65% decrease, and the Czech Republic's expenditure surged by 20.65%. Poland and Hungary also saw notable increases, whereas Spain, Canada, and South Korea reported declines. Over the past five years, R&D spending in the sector shows a mixed trend with variable growth rates across countries.
Future trends to watch include the rising importance of Eastern European countries like the Czech Republic and Poland, which are increasing their foothold in R&D. Innovations in machinery and technology, as well as shifts in economic policies in these regions, could further influence expenditures and global rankings.
Top countries in Business Enterprise R&D Expenditure in Repair and Installation of Machinery and Equipment Share by Country (Million US Dollars PPP = 2015)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United Kingdom | 28.19 | 2023 | +2.67% | +4.12% | View data |
| 2 | 2 Germany | 20.37 | 2023 | -9.1% | -6.65% | View data |
| 3 | 3 Czech Republic | 17.92 | 2023 | +15.34% | +20.65% | View data |
| 4 | 4 Poland | 9.54 | 2023 | +4.41% | +4.98% | View data |
| 5 | 5 Hungary | 5.22 | 2023 | +12.75% | +11.98% | View data |
| 6 | 6 Norway | 3.83 | 2023 | +6.32% | +5.94% | View data |
| 7 | 7 Portugal | 2.76 | 2023 | +1.47% | +14.37% | View data |
| 8 | 8 Spain | 2.72 | 2023 | -4.85% | -3.68% | View data |
| 9 | 9 Canada | 2.06 | 2023 | -4.03% | -1.14% | View data |
| 10 | 10 South Korea | 1.6 | 2023 | +3.69% | -3.6% | View data |
