In 2023, Belgium led European business expenditure on R&D in manufacturing with 1.75% of GDP, followed by Finland and Sweden at 1.33% and 1.31% respectively. These percentages represent actual data, with forecasts beginning in 2024. Belgium, Finland, and Italy showed positive year-on-year variations, with Belgium seeing a 4.39% increase. Noteworthy is Portugal's 9.04% growth, indicating an emphasis on R&D investment. In contrast, Sweden experienced a decline of 5.55%. Over a 5-year span, countries are expected to show diverse growth rates, with varying commitments to manufacturing R&D across Europe.
Future trends to watch include technological advancements influencing manufacturing R&D, potential geopolitical impacts on funding allocation, and a move towards sustainable and digital innovation. Emphasis may also shift depending on economic recovery and government policies fostering R&D investments. Monitoring these aspects will provide insights into European countries' positioning in the competitive global manufacturing sector.
Top countries in Business Expenditure on R&D in Manufacturing by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Belgium | 1.75 | 2023 | +3.13% | +4.39% | View data |
| 2 | 2 Finland | 1.33 | 2023 | -1.04% | +1.21% | View data |
| 3 | 3 Sweden | 1.31 | 2023 | -3.39% | -5.55% | View data |
| 4 | 4 Hungary | 0.81 | 2021 | View data | ||
| 5 | 5 Czech Republic | 0.75 | 2023 | +0.54% | +0.16% | View data |
| 6 | 6 Italy | 0.7 | 2023 | +1.59% | +1.39% | View data |
| 7 | 7 Portugal | 0.5 | 2023 | +7.97% | +9.04% | View data |
| 8 | 8 Spain | 0.37 | 2021 | View data | ||
| 9 | 9 Slovakia | 0.37 | 2023 | +8.61% | +2.4% | View data |
| 10 | 10 Poland | 0.35 | 2023 | +4.17% | +1.18% | View data |
