In 2024, South Korea leads R&D expenditure intensity at 4.13% of GDP, followed by the United States at 2.81%. Belgium, Japan, and Sweden also feature prominently, with values above 2.5%. Over the past two years, Iceland, Portugal, and Estonia saw the most significant growth percentages in R&D spending, while countries like Denmark and Luxembourg experienced declines. Lithuania and Cyprus marked notable increases, indicating active growth in their R&D sectors. The CAGR over five years suggests a steady global increase, reflecting the prioritization of innovation across economies.
Future trends suggest an increasing emphasis on digital transformation, sustainability, and AI integration in R&D projects. Emerging markets might increase their R&D expenditure as they develop competitive advantages in new technologies. Monitoring changes in policy and funding towards green technologies will also be essential, as environmental concerns drive investment directions globally.
Top countries in Business Expenditure on R&D in All Businesses by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 South Korea | 4.13 | 2023 | +2.84% | +2.64% | View data |
| 2 | 2 United States | 2.81 | 2023 | +2.03% | +5.31% | View data |
| 3 | 3 Belgium | 2.64 | 2023 | +1.42% | +5.22% | View data |
| 4 | 4 Japan | 2.58 | 2023 | +0.27% | +0.18% | View data |
| 5 | 5 Sweden | 2.54 | 2023 | +0.75% | +1.51% | View data |
| 6 | 6 Switzerland | 2.39 | 2023 | +2.13% | +2.54% | View data |
| 7 | 7 Austria | 2.29 | 2023 | +0.97% | +1.17% | View data |
| 8 | 8 Finland | 2.19 | 2023 | +2.95% | +3.92% | View data |
| 9 | 9 Germany | 2.19 | 2023 | +0.88% | +0.44% | View data |
| 10 | 10 Iceland | 2.12 | 2023 | +2.51% | +10.54% | View data |
