In 2023, the UK led R&D appropriations in industrial production at $21.52M PPP, though facing a slight decline of 1.1%. Russia followed closely, also declining slightly. Noteworthy increases were observed in Australia (61.51%) and Denmark (59.58%). Conversely, Japan (-26.36%) and Germany (-23.24%) experienced significant decreases. Sweden and Norway saw the sharpest declines, over 33% each. The 5-year trends reveal a dynamic landscape with fluctuating allocations, driven by economic priorities and innovation policies.
Future trends to watch include the potential impact of geopolitical stability, technological advancements, and policy shifts on countries' R&D spending in industrial production. Increasing government focus on sustainable and green technologies may influence future appropriations.
Top countries in Government Budget Appropriations or Outlays for R&D in Industrial Production Share by Country (Million US Dollars PPP, Constant)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United Kingdom | 21.52 | 2023 | +5.02% | -1.1% | View data |
| 2 | 2 Russia | 20.59 | 2023 | -0.33% | -0.028% | View data |
| 3 | 3 Italy | 13.24 | 2023 | +0.63% | -4.26% | View data |
| 4 | 4 Japan | 11.15 | 2023 | -8.71% | -26.36% | View data |
| 5 | 5 Netherlands | 10.33 | 2023 | +2.9% | +2.58% | View data |
| 6 | 6 Belgium | 5.58 | 2023 | +2.84% | +3.07% | View data |
| 7 | 7 Australia | 4.97 | 2023 | +2.3% | +61.51% | View data |
| 8 | 8 Denmark | 3.35 | 2023 | +2.7% | +59.58% | View data |
| 9 | 9 Finland | 2.97 | 2023 | +1.94% | +0.55% | View data |
| 10 | 10 Germany | 1.82 | 2023 | -41.9% | -23.24% | View data |
