In 2023, Germany led in global R&D expenditure with $143.09 billion, showing a modest year-on-year growth of 2.12%. France followed with $66.53 billion, seeing a 1.16% increase. Belgium and Israel displayed robust year-on-year growth at 4.41% and 3.34%, respectively. Conversely, Mexico experienced a decline of 5.16%, while Argentina's decrease was 1.39%. Estonia had the highest growth rate at 4.81% amongst the listed countries. Over the last five years, the CAGR indicates moderate growth in R&D spending globally, with variation in pace across countries.
Future trends to watch include technological advancements necessitating increased R&D investments, especially in AI and green technologies. Given geopolitical influences, a shift in spending priorities is anticipated. Emerging markets may see faster growth rates as they strive to enhance innovation capabilities.
Top countries in Total Gross Domestic Expenditure on R&D by Country
| # | 10 Countries | Million US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 143,090 | 2023 | +1.93% | +2.12% | View data |
| 2 | 2 France | 66,530 | 2023 | +0.98% | +1.16% | View data |
| 3 | 3 Belgium | 19,350 | 2023 | +2.98% | +4.41% | View data |
| 4 | 4 Israel | 18,900 | 2023 | +2.88% | +3.34% | View data |
| 5 | 5 Finland | 6,970 | 2023 | -0.087% | +0.22% | View data |
| 6 | 6 Mexico | 5,630 | 2023 | -5.26% | -5.16% | View data |
| 7 | 7 Argentina | 3,980 | 2023 | -0.49% | -1.39% | View data |
| 8 | 8 New Zealand | 3,110 | 2023 | +2.67% | +3.15% | View data |
| 9 | 9 Chile | 1,650 | 2023 | +1.4% | +1.59% | View data |
| 10 | 10 Lithuania | 1,050 | 2023 | +2.61% | +3.8% | View data |
