European business expenditure on R&D in mining and quarrying varies significantly by country. Serbia leads with 0.16% of GDP, showing a notable 14.18% increase in 2023. Portugal and Poland exhibit moderate year-on-year growth of 3.13% and 3.71% respectively, while Sweden maintains a steady value at 0.018% of GDP. Hungary and Bosnia and Herzegovina are on par with each other at 0.004%. Belgium, Italy, and the Czech Republic exhibit minimal investment, each at 0.001% of GDP, with no variation observed in 2023.
Future trends to watch for include the potential for increased investment in countries currently exhibiting lower R&D expenditure, as industry advancements and sustainability efforts may drive innovation across Europe.
Top countries in Business Expenditure on R&D in Mining and Quarrying by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Serbia | 0.16 | 2023 | +10.14% | +14.18% | View data |
| 2 | 2 Sweden | 0.018 | 2023 | +20% | View data | |
| 3 | 3 Portugal | 0.007 | 2023 | 0% | +3.13% | View data |
| 4 | 4 Poland | 0.006 | 2023 | +20% | +3.71% | View data |
| 5 | 5 Finland | 0.005 | 2021 | +150% | -11.09% | View data |
| 6 | 6 Hungary | 0.004 | 2021 | View data | ||
| 7 | 7 Bosnia and Herzegovina | 0.004 | 2021 | View data | ||
| 8 | 8 Spain | 0.002 | 2021 | View data | ||
| 9 | 9 Belgium | 0.001 | 2023 | 0% | 0% | View data |
| 10 | 10 Italy | 0.001 | 2023 | -50% | 0% | View data |
