In 2023, South Korea led the government R&D expenditure in engineering and technology, standing at 8.27 billion USD PPP, showing a 5.11% year-on-year growth. Germany and Japan followed closely with expenditures of 7.35 and 7.3 billion USD PPP, respectively. While there was a slight decline in Russia's expenditure, most European countries displayed modest increases, with notable growth in Poland (15.04%) and Hungary (11.55%). Smaller European economies like Lithuania and Latvia maintained stable investments, while Estonia had a slight increase of 1.27%.
Looking towards the future, significant growth in technological investment is anticipated in Asian and Eastern European countries. Their aggressive policy shifts towards innovation and technological progress signal possible increases, while Western European nations may face fiscal challenges that could limit their growth potential. Monitoring geopolitical and economic conditions will be crucial for anticipating shifts in R&D expenditure trends worldwide.
Top countries in Government Expenditure on R&D in Engineering and Technology by Country
| # | 10 Countries | Million US Dollars PPP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 South Korea | 8,270 | 2023 | +3.96% | +5.11% | View data |
| 2 | 2 Germany | 7,350 | 2023 | +5.6% | +6.15% | View data |
| 3 | 3 Japan | 7,300 | 2023 | +1.68% | +4.21% | View data |
| 4 | 4 Russia | 6,320 | 2023 | +1.92% | -1.67% | View data |
| 5 | 5 Taiwan | 2,080 | 2023 | +0.31% | +2.54% | View data |
| 6 | 6 Italy | 1,080 | 2023 | +4.39% | +5.73% | View data |
| 7 | 7 Spain | 987.08 | 2023 | +1.34% | +2.14% | View data |
| 8 | 8 Singapore | 789.24 | 2023 | +2.96% | +3.08% | View data |
| 9 | 9 United Kingdom | 730.02 | 2023 | +2.66% | +4.6% | View data |
| 10 | 10 Romania | 302.73 | 2023 | +2.92% | -0.91% | View data |
