In 2023, China led global government R&D expenditure financed by the business enterprise sector at $10.41 billion PPP, marking a 27.3% annual increase. In contrast, Germany's expenditure decreased by 0.11%. Australia demonstrated significant growth with an 11.14% increase, whereas Poland saw a steep decline of 56.22%. Countries showing notable growth include Spain, New Zealand, Romania, and Croatia, with increases of 7.68%, 6.93%, 8.89%, and 23.01%, respectively. Japan and Taiwan experienced modest growth, while larger economies like the United States and United Kingdom showed smaller gains of 0.73% and 1.17%.
Looking forward, global trends suggest increasing investment in R&D from businesses, especially in nations with burgeoning technology and innovation sectors. China's dominance is expected to continue, driven by its high-tech and manufacturing industries. Simultaneously, European countries may experience varied outcomes as government policies and business priorities shift. Watch for increased collaboration between business and government sectors, emphasizing sustainable development and technological advancements.
Top countries in Government Expenditure on R&D Financed by the Business Enterprise Sector by Country
| # | 10 Countries | Million US Dollars PPP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 10,410 | 2023 | +22.44% | +27.3% | View data |
| 2 | 2 Germany | 1,890 | 2023 | +2% | -0.11% | View data |
| 3 | 3 Russia | 1,490 | 2023 | +2.6% | +1.53% | View data |
| 4 | 4 France | 670.07 | 2023 | +2.23% | -0.28% | View data |
| 5 | 5 Japan | 411.83 | 2023 | +0.0024% | +2.5% | View data |
| 6 | 6 Spain | 401.21 | 2023 | +1.83% | +7.68% | View data |
| 7 | 7 Australia | 383.42 | 2023 | +5.73% | +11.14% | View data |
| 8 | 8 South Korea | 335.37 | 2023 | +1.23% | +1.78% | View data |
| 9 | 9 United States | 223 | 2023 | +2.29% | +0.73% | View data |
| 10 | 10 Italy | 194.9 | 2023 | +1.82% | +1.97% | View data |
