In 2023, South Korea led government expenditure on R&D in engineering and technology with notable YoY growth of 4.08%. Japan and Germany followed, exhibiting moderate increases in spending, 1.92% and 3.72% respectively. Conversely, Russia saw a decline of 2.88%. Emerging countries like Poland and Hungary demonstrated significant growth rates of 9.71%. Conversely, countries like the Netherlands and Romania faced substantial reductions in their R&D investments. Over the last five years, the CAGR reflects a mixed trend with some mature economies stabilizing while others exhibit volatility.
Future trends to watch include potential shifts towards higher allocations in emerging markets as they emphasize innovation-driven growth. Meanwhile, geopolitical tensions may continue to influence spending patterns in key regions like Europe and Asia. Structural transformations in technology sectors globally will likely prompt reevaluation of government R&D priorities.
Top countries in Government Expenditure on R&D in Engineering and Technology Share by Country (Million US Dollars PPP = 2015)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 South Korea | 23.65 | 2023 | +3.11% | +4.08% | View data |
| 2 | 2 Japan | 20.65 | 2023 | +0.021% | +1.92% | View data |
| 3 | 3 Germany | 18.59 | 2023 | +3.59% | +3.72% | View data |
| 4 | 4 Russia | 16.37 | 2023 | +0.63% | -2.88% | View data |
| 5 | 5 Taiwan | 6.05 | 2023 | +0.2% | +1.06% | View data |
| 6 | 6 Spain | 2.71 | 2023 | +1.31% | +0.95% | View data |
| 7 | 7 Italy | 2.6 | 2023 | +1.56% | +2.42% | View data |
| 8 | 8 Singapore | 2.37 | 2023 | +2.69% | +3.14% | View data |
| 9 | 9 United Kingdom | 1.95 | 2023 | +0.91% | +2.33% | View data |
| 10 | 10 Finland | 0.82 | 2023 | +2.42% | +0.5% | View data |
