The data indicates that in 2023, Belgium led R&D expenditure in chemicals and chemical products manufacturing relative to GDP among the listed countries, followed by Switzerland and Sweden. Portugal showed significant growth over the previous year with an 8.02% increase. Italy also experienced notable growth, while Finland and Poland saw declines. Other countries like Sweden, the Czech Republic, Croatia, Slovakia, Malta, and Serbia showed no change. Over a five-year period, the average annual changes varied, reflecting diverse investment dynamics in the chemical industry across Europe.
Future trends to watch include potential increases in R&D expenditure across economically resilient nations like Belgium and Switzerland. The demand for innovative and sustainable chemical solutions is likely to propel advancements and investment. Monitoring how economic conditions and sustainability initiatives affect R&D spending in these regions will be crucial.
Top countries in Business Expenditure on R&D in Chemicals and Chemical Products Manufacturing by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Belgium | 0.14 | 2023 | 0% | +1.16% | View data |
| 2 | 2 Switzerland | 0.092 | 2023 | +4.55% | +2.58% | View data |
| 3 | 3 Sweden | 0.035 | 2023 | +16.67% | View data | |
| 4 | 4 Italy | 0.033 | 2023 | +3.13% | +4.88% | View data |
| 5 | 5 Finland | 0.031 | 2023 | -6.06% | -4.97% | View data |
| 6 | 6 Portugal | 0.025 | 2023 | +4.17% | +8.02% | View data |
| 7 | 7 Spain | 0.025 | 2021 | View data | ||
| 8 | 8 Poland | 0.018 | 2023 | +5.88% | -6.36% | View data |
| 9 | 9 Czech Republic | 0.012 | 2023 | 0% | 0% | View data |
| 10 | 10 Hungary | 0.008 | 2021 | View data |
