In 2023, Portugal led European R&D expenditure in the wood and cork sector at 27.14 million euros, showcasing an 8.66% year-on-year growth. Spain followed with 17.41 million euros, growing at 4.46%. Finland, with an R&D expenditure of 11.45 million euros, grew by 6.78%. Slovakia invested 5.4 million euros, while Latvia experienced a notable 15.27% increase, reaching 2.91 million euros. Estonia's R&D expenditure surged by 52.53%, totaling 2.48 million euros. Lithuania had the lowest R&D expenditure at 0.23 million euros.
Future trends indicate potential growth in R&D investment driven by technological innovations in sustainable wood products and increased focus on circular economies. Countries in Northern and Eastern Europe, like Estonia and Latvia, may continue to experience significant growth due to favorable policies and investments in eco-friendly technologies.
Top countries in Business Enterprise R&D Expenditure in Manufacture of Wood and of Products of Wood and Cork (Except Furniture; Manufacture of Articles of Straw and Plaiting Materials) by Country
| # | 7 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Portugal | 27.14 | 2023 | +3.38% | +8.66% | View data |
| 2 | 2 Spain | 17.41 | 2023 | +5.55% | +4.46% | View data |
| 3 | 3 Finland | 11.45 | 2023 | +3.85% | +6.78% | View data |
| 4 | 4 Slovakia | 5.4 | 2021 | View data | ||
| 5 | 5 Latvia | 2.91 | 2023 | +7.06% | +15.27% | View data |
| 6 | 6 Estonia | 2.48 | 2023 | +18.69% | +52.53% | View data |
| 7 | 7 Lithuania | 0.23 | 2021 | +40.97% | View data |
