In 2023, Russia led the global business enterprise R&D expenditure financed by the government with 12.12 billion USD in constant PPP terms. South Korea and Germany followed with 3.73 billion and 2.62 billion USD, respectively. Japan's expenditure stood at 1.08 billion USD, while Iceland's was 0.03344 billion USD. Year-on-year, Russia and South Korea experienced positive growth, with Russia increasing by 1.31% and South Korea by 2.28%. Germany and Japan saw slight decreases of 1.05% and 0.82%, respectively, whereas Iceland had a 3.55% increase. Over the past five years, Russia’s CAGR remained robust, reflecting its commitment to R&D.
Future trends to watch include the potential for increased government R&D financing in countries looking to boost innovation-driven economic growth. This could especially impact emerging markets and economies heavily reliant on technology development. Monitoring geopolitical influences on R&D funding, particularly in regions with strong technological competition, will be crucial for understanding shifts in global R&D investment landscapes.
Top countries in Business Enterprise Expenditure On R&D Financed by Government by Country
| # | 5 Countries | Million US Dollars PPP, Constant | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Russia | 12,120 | 2023 | +0.0058% | +1.31% | View data |
| 2 | 2 South Korea | 3,730 | 2023 | +2.26% | +2.28% | View data |
| 3 | 3 Germany | 2,620 | 2023 | -0.81% | -1.05% | View data |
| 4 | 4 Japan | 1,080 | 2023 | -1.35% | -0.82% | View data |
| 5 | 5 Iceland | 33.44 | 2023 | +4.14% | +3.55% | View data |
