The analysis of European Government Expenditure on R&D reveals that Germany leads with €18.47 billion, showing a 5.44% increase in 2023. Italy and Spain follow with expenditures of €3.77 billion and €3.15 billion, respectively. Estonia experienced the most significant growth at 6.14%, while Latvia saw the smallest rise at 0.94%. Other countries like the Netherlands and Portugal showed moderate yet consistent increases. Over the last five years, the Compound Annual Growth Rate (CAGR) varied across the region, with Slovenia notably rising by 5.16% in 2023.
Looking ahead, countries prioritizing digital and green technologies in response to global challenges may boost their R&D spending. Collaborative ventures across European nations could further enhance innovation and technological advancement in the region.
Top countries in Government Expenditure on R&D in All Fields by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 18,470 | 2023 | +5.17% | +5.44% | View data |
| 2 | 2 Italy | 3,770 | 2023 | +2.06% | +3.7% | View data |
| 3 | 3 Spain | 3,150 | 2023 | +3.6% | +4.61% | View data |
| 4 | 4 Netherlands | 1,100 | 2023 | +1.07% | +2.39% | View data |
| 5 | 5 Finland | 561.09 | 2023 | +0.98% | +0.96% | View data |
| 6 | 6 Slovakia | 177.73 | 2023 | +2.07% | +2.2% | View data |
| 7 | 7 Portugal | 174.58 | 2023 | +1.22% | +3.49% | View data |
| 8 | 8 Slovenia | 155.55 | 2023 | +1.72% | +5.16% | View data |
| 9 | 9 Lithuania | 102.4 | 2023 | +2.44% | +1.55% | View data |
| 10 | 10 Estonia | 56.32 | 2023 | +5.09% | +6.14% | View data |
