In 2023, Belgium and Switzerland led European business expenditure on R&D in basic metals manufacturing relative to GDP. Their values stood at 0.052% and 0.049% respectively. Most countries, such as Poland and Slovakia, showed modest annual increases in R&D expenditure, whereas others like Finland and the Czech Republic experienced declines. Poland posted the highest year-on-year growth at 1.49%, while the Czech Republic saw a significant decrease of 7.79%. Overall, the region exhibited varied trends, with some countries enhancing their commitment, while others slightly retracting investment.
Future trends to watch:
- Technological advancements may drive increased R&D spending across Europe.
- Green metal manufacturing initiatives could alter expenditures in Finland, Italy, and other countries.
- Brexit and geopolitical factors may shift investment focus within European countries.
Top countries in Business Expenditure on R&D in Basic Metals Manufacturing by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Belgium | 0.052 | 2023 | +8.33% | +0.79% | View data |
| 2 | 2 Switzerland | 0.049 | 2023 | +4.26% | +0.62% | View data |
| 3 | 3 Sweden | 0.022 | 2023 | 0% | +0.46% | View data |
| 4 | 4 Poland | 0.014 | 2023 | +16.67% | +1.49% | View data |
| 5 | 5 Italy | 0.011 | 2023 | 0% | 0% | View data |
| 6 | 6 Finland | 0.009 | 2023 | 0% | -3.93% | View data |
| 7 | 7 Slovakia | 0.008 | 2023 | 0% | +2.71% | View data |
| 8 | 8 Portugal | 0.006 | 2023 | 0% | 0% | View data |
| 9 | 9 Spain | 0.005 | 2021 | View data | ||
| 10 | 10 Hungary | 0.003 | 2021 | View data |
