As of 2023, business enterprise expenditure on R&D performed in total manufacturing in Canada was steady, continuing with a value equivalent to 0.27% of GDP. The forecast from 2024 through 2028 maintains this figure unchanged at 0.27% annually, indicating no growth or decline in the proportion of GDP allocated to R&D in manufacturing sectors.
- The year-on-year variation remains at 0%, suggesting stability but also a lack of anticipated growth over the near term.
- Over a five-year compound annual growth rate (CAGR), the value suggests a prolonged stagnation in investment levels relative to GDP.
Future trends to watch: Monitor potential policy shifts, technological advancements, and international competition that could prompt a shift in R&D spending. Additionally, assess external economic factors that might impact manufacturing growth and innovation in Canada's economy.
