South Korea leads global Intramural R&D expenditure in the business sector with 4.1% of GDP, followed by the United States at 2.81%. The top five are completed by Belgium, Japan, and Sweden, each above 2.4%. Notably, Iceland shows a significant year-on-year increase of 9.36%, while the United States increased by 5.33%, signifying strong commitments. In contrast, Germany and Italy experienced slight declines in their R&D expenditure. Latvia, Estonia, Greece, and Portugal also saw notable growth. The lowest spenders, such as Macedonia and Bosnia & Herzegovina, remain below 0.1% of GDP.
Future trends to monitor include potential shifts in R&D funding towards technology-driven sectors, anticipated boosts from emerging markets, and increased emphasis on sustainable innovation. Watch for increased collaboration between public and private sectors to optimize R&D resources amid global economic uncertainties.
Top countries in Intramural R&D Expenditure in the Business Enterprise Sector by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 South Korea | 4.1 | 2023 | +2.45% | +2.47% | View data |
| 2 | 2 United States | 2.81 | 2023 | +2.11% | +5.33% | View data |
| 3 | 3 Belgium | 2.66 | 2023 | +1.57% | +5.32% | View data |
| 4 | 4 Japan | 2.64 | 2023 | +0.3% | +0.63% | View data |
| 5 | 5 Sweden | 2.47 | 2023 | 0% | +0.95% | View data |
| 6 | 6 Switzerland | 2.33 | 2023 | +0.87% | +1.98% | View data |
| 7 | 7 Austria | 2.3 | 2023 | +1.14% | +1.26% | View data |
| 8 | 8 Finland | 2.2 | 2023 | +3.14% | +3.95% | View data |
| 9 | 9 Germany | 2.05 | 2023 | -0.77% | -0.85% | View data |
| 10 | 10 Iceland | 2.01 | 2023 | +0.05% | +9.36% | View data |
