In 2023, government expenditure on R&D in Canada stood at 2.50 Billion US Dollars PPP. The forecast for the upcoming years indicates a gradual increase: 2.53 Billion in 2024, 2.56 Billion in 2025, 2.59 Billion in 2026, 2.63 Billion in 2027, and 2.66 Billion in 2028. This upward trend represents a consistent year-on-year growth, with the average Compound Annual Growth Rate (CAGR) over the next five years being approximately 1.24%.

Future trends to watch for:

An emphasis on innovation in technology sectors driving larger R&D investments.
Potential increased funding in sustainable development and green technologies.
Policy changes and funding allocations that may impact the trajectory of R&D expenditures.