The forecasted trend for Canada's government expenditure on R&D as a percentage of GDP from 2024 to 2028 shows a gradual decline. Starting from 0.1% of GDP in 2024, it is expected to decrease to 0.086% by 2028. This indicates a consistent annual reduction, reflecting a potential shift in government priorities or budget constraints.
In 2023, the actual expenditure stood at a slightly higher percentage, highlighting the beginning of this downward trend. The year-on-year variation shows a steady decrease, with an average annual decline (CAGR) over the five-year forecast period.
Future trends to watch for:
- Changes in government policies affecting R&D funding.
- Impact of economic conditions on GDP and R&D allocation.
- Emerging technology sectors that might influence R&D priorities.
- Comparative R&D spending in other developed countries.
