In 2023, South Korea led global government expenditure on R&D in engineering and technology at 7.51 billion USD, with Japan and Germany closely following. Among the top nations, Russia witnessed a decline of 2.88% while Poland and Hungary showed strong growth at 9.71%. Other countries such as Finland and Italy recorded modest growth. Conversely, many European nations, including Norway and the Netherlands, experienced decreases in R&D spending. Overall, the expenditure variation over the past two years showcases a mixed trend.
Looking forward, the focus will be on innovation-driven investments in technology sectors. We will watch for shifts in geopolitical dynamics impacting funding, and the influence of technologies such as AI and green innovations, which could significantly alter R&D investment strategies worldwide.
Top countries in Government Expenditure on R&D in Engineering and Technology by Country
| # | 10 Countries | Million US Dollars PPP = 2015 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 South Korea | 7,510 | 2023 | +3.11% | +4.08% | View data |
| 2 | 2 Japan | 6,550 | 2023 | +0.021% | +1.92% | View data |
| 3 | 3 Germany | 5,900 | 2023 | +3.59% | +3.72% | View data |
| 4 | 4 Russia | 5,190 | 2023 | +0.63% | -2.88% | View data |
| 5 | 5 Taiwan | 1,920 | 2023 | +0.2% | +1.06% | View data |
| 6 | 6 Spain | 859.76 | 2023 | +1.31% | +0.95% | View data |
| 7 | 7 Italy | 826.43 | 2023 | +1.56% | +2.42% | View data |
| 8 | 8 Singapore | 751.8 | 2023 | +2.69% | +3.14% | View data |
| 9 | 9 United Kingdom | 617.6 | 2023 | +0.91% | +2.33% | View data |
| 10 | 10 Finland | 260.62 | 2023 | +2.42% | +0.5% | View data |
