In 2023, the United States led global R&D expenditure in professional, scientific, and technical activities with 58.04 billion USD PPP, showing a significant 14.93% year-on-year increase. South Korea noted impressive growth, with its expenditure rising 25.29%. European countries like Germany, Italy, and Poland demonstrated moderate increases, whereas countries like Latvia slightly declined. Smaller European nations such as Portugal and Lithuania saw notable increases. Mexico's growth was marginal at 0.75%.
Future trends to watch include increased R&D investments in technological advancements, especially in emerging markets. The significant increases in South Korea, Portugal, and Lithuania suggest potential shifts in global innovation hubs, emphasizing the importance of cross-border R&D collaborations.
Top countries in Business Enterprise R&D Expenditure in Professional, Scientific and Technical Activities by Country
| # | 10 Countries | Million US Dollars PPP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 58,040 | 2023 | +13% | +14.93% | View data |
| 2 | 2 United Kingdom | 24,130 | 2021 | +23.3% | View data | |
| 3 | 3 Japan | 9,270 | 2023 | +10.05% | +0.52% | View data |
| 4 | 4 Germany | 8,770 | 2023 | +3.62% | +2.95% | View data |
| 5 | 5 Israel | 6,250 | 2023 | +3.78% | +3.48% | View data |
| 6 | 6 South Korea | 5,950 | 2023 | +15.01% | +25.29% | View data |
| 7 | 7 Spain | 4,450 | 2023 | +2% | +2.48% | View data |
| 8 | 8 Italy | 2,870 | 2023 | +11.58% | +5.55% | View data |
| 9 | 9 Canada | 2,860 | 2023 | +2.1% | +2.85% | View data |
| 10 | 10 Poland | 2,660 | 2023 | -0.32% | +3.75% | View data |
