Between 2013 and 2023, Mexico’s government research and development (R&D) expenditure fluctuated, showing a mix of rises and declines. It started at 0.5% of GDP in 2013 and experienced slight increases to 0.53% in 2023. The past few years saw stable to minor positive trends, with recent Year-on-Year (YoY) variations being small and positive, indicating incremental but consistent growth. The Compound Annual Growth Rate (CAGR) over the last 5 years suggests moderate growth at 0.83% annually.
Looking ahead, the forecast from 2024 to 2028 anticipates a steady increase in government R&D expenditure, rising to 0.55% of GDP by 2028. The projected 5-year CAGR is 0.57%, translating to an overall growth rate of 2.89% by the end of the forecast period.
Future trends to watch for:
- Policy changes affecting government R&D funding.
- Economic conditions that could impact budget allocations for R&D.
- Shifts in strategic priorities of the government influencing R&D expenditure.
