The data indicates that Israel leads global government expenditure on R&D financed by government, with significant year-on-year growth among Iceland and Lithuania, suggesting increased prioritization. Conversely, Latvia, Belgium, and other European nations show declines, indicating shifting budgetary allocations. Over the past years, Europe's expenditure growth has been moderate, while countries like Russia and Hungary experienced higher variations, suggesting a focus on innovation and technological advancements.
Future trends to watch for include increased investment in emerging technologies, continued growth in Asia-led R&D spend, and potential shifts in funding priorities due to geopolitical tensions, economic changes, and environmental challenges. Continuous monitoring of the emerging markets will be crucial for future assessments.
Top countries in Government Expenditure on R&D Financed by Government by Country
| # | 10 Countries | Percent of Total GOVERD | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Israel | 99.72 | 2023 | +0.3% | +0.69% | View data |
| 2 | 2 Canada | 99.39 | 2023 | -0.01% | +0.079% | View data |
| 3 | 3 United States | 99.38 | 2023 | -0.01% | +0.0041% | View data |
| 4 | 4 Argentina | 98.95 | 2023 | +0.0024% | +0.45% | View data |
| 5 | 5 Mexico | 97.07 | 2023 | +0.072% | +0.21% | View data |
| 6 | 6 Colombia | 96.98 | 2023 | -0.16% | -0.6% | View data |
| 7 | 7 Taiwan | 96.53 | 2023 | -0.035% | +0.00039% | View data |
| 8 | 8 Japan | 96.3 | 2023 | -0.000088% | -0.011% | View data |
| 9 | 9 Chile | 95.72 | 2023 | +0.062% | +0.067% | View data |
| 10 | 10 Singapore | 94.28 | 2023 | -0.026% | -0.24% | View data |
