In 2023, Germany dominated the European R&D expenditure in the manufacture of electronic components and boards with significant spending of 1.94 billion Euros. Italy followed with 0.626 billion Euros, showcasing steady growth. Spain and Portugal exhibited higher year-on-year growth rates, at 7.36% and 12.14%, respectively, though their absolute expenditures remained lower. Smaller nations like Lithuania, Slovenia, and Latvia spent the least, but Lithuania's R&D expenditure sharply increased by 10.92%. Noteworthy is Slovenia's moderate growth of 3.84%, while Latvia exhibited no change in expenditure.
Future trends to observe include potential shifts in investments due to increased digitalization, innovation initiatives across Europe, and policy changes impacting R&D funding. Particularly, Southern European countries like Spain and Portugal might continue their rapid growth, while Germany is likely to maintain its leader position in R&D investments.
Top countries in Business Enterprise R&D Expenditure in Manufacture of Electronic Components and Boards by Country
| # | 8 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 1,940 | 2023 | +1.85% | +2.78% | View data |
| 2 | 2 Italy | 626.42 | 2023 | +0.65% | +1.64% | View data |
| 3 | 3 Spain | 58.47 | 2023 | +5.01% | +7.36% | View data |
| 4 | 4 Portugal | 15.08 | 2023 | +8.52% | +12.14% | View data |
| 5 | 5 Lithuania | 4.59 | 2023 | +8.02% | +10.92% | View data |
| 6 | 6 Slovenia | 3.39 | 2023 | -2.19% | +3.84% | View data |
| 7 | 7 Slovakia | 1.4 | 2021 | +15.66% | +6.33% | View data |
| 8 | 8 Latvia | 1.18 | 2023 | +3.42% | View data |
