In 2023, China's business-financed government R&D expenditure led globally with substantial growth of 24.4%. Among European countries, Germany showed a slight downturn of -1.62%. Notable improvements were recorded in Croatia (20.7%) and Australia (8.76%), while Canada (-10.54%) and Iceland (-21.21%) faced significant reductions. Meanwhile, the United States slightly contracted by -0.84%. While some countries like Spain and Romania saw modest growths of 6.44% and 5.26%, others such as the United Kingdom experienced declines of -5.3%.
Future trends to watch include:
- Increasing investment by China potentially driving further growth in Asia.
- Stability or gradual increase in European countries' R&D financing driven by innovation policies.
- Potential recovery in countries with recent downturns, as they may attempt to boost their R&D sectors.
- Possibility of shifts in government policies influencing business enterprise-funded R&D allocations globally.
Top countries in Government Expenditure on R&D Financed by the Business Enterprise Sector Share by Country (Million US Dollars PPP, Constant)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 58 | 2023 | +20.54% | +24.4% | View data |
| 2 | 2 Germany | 9.9 | 2023 | +1.91% | -1.62% | View data |
| 3 | 3 Russia | 7.79 | 2023 | +2.3% | +0.56% | View data |
| 4 | 4 France | 3.3 | 2023 | +0.94% | -3.27% | View data |
| 5 | 5 Japan | 2.74 | 2023 | +0.0018% | +2.3% | View data |
| 6 | 6 Spain | 2.18 | 2023 | +2.11% | +6.44% | View data |
| 7 | 7 Australia | 1.97 | 2023 | +4.52% | +8.76% | View data |
| 8 | 8 South Korea | 1.87 | 2023 | +0.55% | +0.49% | View data |
| 9 | 9 United States | 1.23 | 2023 | +1.86% | -0.84% | View data |
| 10 | 10 Italy | 1 | 2023 | +1.06% | +0.27% | View data |
