The analysis of global business enterprise expenditure on R&D in natural sciences and engineering shows South Korea as the largest spender at 93.1 billion USD PPP in 2023, followed by Taiwan with 53.13 billion. Growth leaders in 2023 included Taiwan (10.76%) and Latvia (14.02%), while Mexico saw a decline of 6.92%. Over the past five years, the compound annual growth rate (CAGR) highlights dynamic investment increases, particularly in Taiwan and Poland.
Future trends to watch for include the potential impacts of geopolitical shifts on Russian R&D spending, South Korea and Taiwan's continual advancements in technology sectors, and emerging markets like Latvia and Portugal, which may see continued growth in R&D investments.
Top countries in Business Enterprise Expenditure on R&D in Natural Sciences and Engineering by Country
| # | 10 Countries | Million US Dollars PPP = 2015 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 South Korea | 93,100 | 2023 | +4.22% | +4.33% | View data |
| 2 | 2 Taiwan | 53,130 | 2023 | +10.74% | +10.76% | View data |
| 3 | 3 Russia | 24,000 | 2023 | +0.98% | +3.46% | View data |
| 4 | 4 Canada | 17,240 | 2023 | +1.43% | +1.46% | View data |
| 5 | 5 Poland | 13,180 | 2023 | +7.37% | +7.57% | View data |
| 6 | 6 Singapore | 7,370 | 2023 | +2.88% | +5.3% | View data |
| 7 | 7 Czech Republic | 5,210 | 2023 | +2.24% | +2.38% | View data |
| 8 | 8 Hungary | 4,310 | 2023 | +5.1% | +5.19% | View data |
| 9 | 9 Portugal | 4,000 | 2023 | +11.33% | +12.71% | View data |
| 10 | 10 Romania | 1,660 | 2023 | +4.21% | +2.22% | View data |
