Based on the 2023 data, Israel and South Korea lead global R&D expenditure as a percentage of GDP, with figures exceeding 5%. The United States and several European nations follow, contributing significantly to global innovation. Notably, several countries showed high year-on-year increases in R&D spend, with Iceland and Thailand showing remarkable growth in 2023. Declines are evident in several others, including Luxembourg and South Africa.
Future trends to watch include increasing R&D investments in emerging markets like Indonesia and Peru, and established economies like Israel and South Korea maintaining their leading positions. Monitoring geopolitical changes and their impact on R&D funding will also be crucial.
Top countries in R&D Expenditure by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Israel | 5.73 | 2023 | +1.54% | +3.72% | View data |
| 2 | 2 South Korea | 5.22 | 2023 | +2.81% | +2.92% | View data |
| 3 | 3 United States | 3.64 | 2023 | +2.62% | +3.89% | View data |
| 4 | 4 Belgium | 3.49 | 2023 | +0.8% | +4.07% | View data |
| 5 | 5 Sweden | 3.42 | 2023 | +0.0084% | +0.61% | View data |
| 6 | 6 Switzerland | 3.42 | 2023 | +1.08% | +1.72% | View data |
| 7 | 7 Austria | 3.34 | 2023 | +1.28% | +1.54% | View data |
| 8 | 8 Japan | 3.3 | 2023 | +0.1% | +0.51% | View data |
| 9 | 9 Germany | 3.21 | 2023 | +1.06% | +0.64% | View data |
| 10 | 10 United Kingdom | 3.19 | 2023 | +3.81% | +3.34% | View data |
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