Based on the 2023 data, South Korea leads global business enterprise expenditure on R&D as a percentage of GDP, followed by Taiwan, Japan, and Israel. Significant year-on-year growth was observed in Israel, Iceland, Portugal, and Estonia. South Korea, Taiwan, and China also showed notable increases. Conversely, countries like Germany, Australia, and Canada experienced a decline. Over the past five years, the CAGR indicates moderate growth in most nations with varying degrees depending on the country's prioritization of innovation-driven growth.
Future trends to watch include:
- Emergence of Asia as a powerhouse in R&D, led by South Korea and Taiwan.
- Continued strategic investments by countries like Israel and China to bolster technological capabilities.
- Potential challenges in sustaining growth in regions facing economic or policy shifts, such as Europe.
- Innovation opportunities arising from converging technologies, potentially impacting R&D dynamics globally.
Top countries in Business Enterprise Expenditure on R&D Financed by the Business Enterprise Sector by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 South Korea | 3.88 | 2023 | +2.8% | +2.76% | View data |
| 2 | 2 Taiwan | 3.48 | 2023 | +5.21% | +5.56% | View data |
| 3 | 3 Japan | 2.56 | 2023 | +0.31% | +0.33% | View data |
| 4 | 4 Israel | 2.37 | 2023 | +1.85% | +6.57% | View data |
| 5 | 5 Belgium | 2.26 | 2023 | +2.56% | +4.85% | View data |
| 6 | 6 Sweden | 2 | 2023 | -0.78% | -0.44% | View data |
| 7 | 7 China | 1.92 | 2023 | +2.95% | +3.97% | View data |
| 8 | 8 Finland | 1.84 | 2023 | +3.51% | +4.15% | View data |
| 9 | 9 Germany | 1.81 | 2023 | -0.78% | -1.32% | View data |
| 10 | 10 Denmark | 1.72 | 2023 | +0.4% | +0.56% | View data |
