In 2023, China led global R&D expenditure in high and medium-high intensive industries with a significant share, observing an annual growth of 8%. The United States followed with a more modest 2.93% increase. Taiwan had the highest increase at 11.11%, while mature economies like Japan and Germany saw minimal shifts. Smaller economies displayed notable growth with Latvia and Estonia experiencing double-digit upticks, while Canada and Finland registered declines.
Future trends to watch include China's continued dominance in R&D spending, the resilience of innovative economies like South Korea and Germany, and potential shifts in smaller countries leveraging innovation to enhance their economic competitiveness.
Top countries in Business Enterprise Expenditure on R&D Performed in High and Medium-High R&D Intensive Industries Share by Country (Million US Dollars PPP, Constant)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 32.62 | 2023 | +6.19% | +8% | View data |
| 2 | 2 United States | 29.36 | 2023 | +1.98% | +2.93% | View data |
| 3 | 3 Japan | 11.25 | 2023 | +1.02% | +0.019% | View data |
| 4 | 4 Germany | 8.22 | 2023 | +4.07% | +1.59% | View data |
| 5 | 5 South Korea | 8.05 | 2023 | +3.83% | +3.49% | View data |
| 6 | 6 Taiwan | 5.1 | 2023 | +10.43% | +11.11% | View data |
| 7 | 7 Italy | 1.18 | 2023 | +1.11% | +0.54% | View data |
| 8 | 8 Belgium | 0.64 | 2023 | +2.41% | +3.16% | View data |
| 9 | 9 Sweden | 0.59 | 2023 | -0.68% | -0.21% | View data |
| 10 | 10 Spain | 0.5 | 2023 | +1.63% | +1.42% | View data |
