Between 2013 and 2023, Canada's investment in R&D as a percentage of GDP showed a decline and stabilization. The value remained at 1.3% from 2013 to 2016, then decreased to 1.2% in 2017 and stabilized at that level until 2023. Year-on-year variations were significant only in 2017 with a -7.69% change, but stable otherwise. The 5-year CAGR ending in 2023 was 0%, indicating no average annual growth in recent years.
Looking ahead, the forecast from 2024 to 2028 suggests that the R&D investment will continue to be stable at 1.2% of GDP. The forecasted 5-year CAGR and growth rate are both 0%, reinforcing this stable outlook.
Future trends to watch for include potential policy changes by the Canadian government that could incentivize greater R&D spending, sectoral shifts in industries like technology and healthcare, and global economic conditions that may impact R&D budgets. Monitoring these factors will be crucial for understanding any deviations from the current stable forecast.
