In 2023, Canada's Total Gross Domestic Expenditure on R&D was $27.98 billion. Forecasts suggest a steady annual increase to $28.19 billion by 2028, indicating a sluggish growth trajectory in R&D investments. Year-on-year growth rates from 2024 to 2028 reflect minimal progress, averaging 0.15% annually. The compound annual growth rate (CAGR) over the five-year period is also subtle, underscoring a consistent yet timid upward trend.
Future trends to watch for include:
- Potential policy shifts aimed at boosting R&D funding.
- Emerging technologies that might necessitate increased investment.
- Economic conditions impacting public and private sector R&D priorities.
