Finland's scientific research and development output, expressed in billion euros, has shown a steady upward trend from 2013 to 2023. The value stood at 2.9 billion euros in 2023. Although there were some fluctuations in the early years, including a dip in 2015 and 2017, the trend has generally moved upwards from 2018 onward. The past two years, 2022 and 2023, saw year-on-year variations of 6.26% and 2.36% respectively, indicating a strong and steady recovery. On a longer horizon, the five-year CAGR from 2018 to 2023 reflects a significant 5.32% yearly growth on average.
Looking into the forecasted data from 2024 to 2028, the scientific research and development output is expected to continue growing. The forecast shows a gradual increase reaching 3.23 billion euros by 2028, with an average annual growth (CAGR) of 1.69% over the next five years. This translates to an overall growth of 8.75% from 2024 to 2028.
Future trends to watch for include the integration of emerging technologies such as artificial intelligence and machine learning, increased funding from both private and public sectors, and potential collaborations with international research organizations, which could further drive long-term growth in Finland's scientific research and development sector.
