In 2023, China led R&D expenditures with 33.08% share, surpassing the United States at 31.58%. South Korea and Taiwan followed with 13.29% and 12.98%, respectively. Despite Japan's slight decline, it maintained a 6.98% share. Lithuania and Romania exhibited strong growth rates of 27.64% and 39.31%, while Canada faced a significant reduction of 15.71%.
Future Trends to Watch:
- China continues to increase its lead in R&D spending, influenced by ongoing technological advancements and government support.
- Investments from Eastern European countries like Lithuania and Romania are expected to grow as they capitalize on their 2023 momentum.
- Technological innovation and competitive pressure may result in shifts among top-spending nations such as the United States, South Korea, and Taiwan.
Top countries in Business Enterprise R&D Expenditure in Manufacture of Computer, Electronic and Optical Products Share by Country (Million US Dollars PPP)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 33.08 | 2023 | +14.56% | +16.06% | View data |
| 2 | 2 United States | 31.58 | 2023 | +6.59% | +7.3% | View data |
| 3 | 3 South Korea | 13.29 | 2023 | +3.52% | +3.79% | View data |
| 4 | 4 Taiwan | 12.98 | 2023 | +14.4% | +15.45% | View data |
| 5 | 5 Japan | 6.98 | 2023 | +0.56% | -0.22% | View data |
| 6 | 6 Israel | 0.61 | 2023 | +3.41% | +1.31% | View data |
| 7 | 7 Italy | 0.48 | 2023 | +0.35% | +2.76% | View data |
| 8 | 8 Finland | 0.36 | 2023 | +3.46% | +4.78% | View data |
| 9 | 9 Poland | 0.14 | 2023 | +5.5% | +5.1% | View data |
| 10 | 10 Canada | 0.11 | 2023 | -19.49% | -15.71% | View data |
