The United States leads in government-financed business R&D expenditures at $22.07 billion, though it decreased by 1.28% in 2023. China follows with $16.56 billion, experiencing a growth of 3.65%. Russia ranks third with $14.53 billion, and a 2.3% increase. South Korea and Canada show steady growth at 2.7% and 3.4% respectively. Japan's expenditure marginally increased by 0.19%, while Mexico and Greece saw rises of 2.74% and 0.89%. Slovakia is the only nation with a significant decline, falling by 7.94%.
Future trends to watch include a potential increase in allocations towards digital transformation and sustainability initiatives, especially in emerging markets. Continued geopolitical and economic changes may further influence government R&D funding priorities globally.
Top countries in Business Enterprise Expenditure On R&D Financed by Government by Country
| # | 9 Countries | Million US Dollars PPP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 22,070 | 2023 | -1.42% | -1.28% | View data |
| 2 | 2 China | 16,560 | 2023 | +3.17% | +3.65% | View data |
| 3 | 3 Russia | 14,530 | 2023 | +1.37% | +2.3% | View data |
| 4 | 4 South Korea | 3,930 | 2023 | +2.63% | +2.7% | View data |
| 5 | 5 Canada | 1,150 | 2023 | +3.38% | +3.4% | View data |
| 6 | 6 Japan | 1,120 | 2023 | -0.42% | +0.19% | View data |
| 7 | 7 Mexico | 381.07 | 2023 | +2.2% | +2.74% | View data |
| 8 | 8 Greece | 116.81 | 2023 | +3.18% | +0.89% | View data |
| 9 | 9 Slovakia | 13.56 | 2023 | -8.65% | -7.94% | View data |
