In 2023, Canada's Gross Domestic Expenditure on R&D stood at 1.68% of GDP. Forecasts suggest a slight increase to 1.7% in 2024, gradually stabilizing at 1.71% from 2025 to 2028. Year-on-year, this indicates a modest growth of about 0.59% from 2024 onwards. Over five years, the Compound Annual Growth Rate (CAGR) is approximately 0.35%.
Future trends to watch include:
- Impact of technological advancements on R&D expenditure.
- Government policies and initiatives promoting R&D investments.
- Global economic conditions influencing corporate R&D spending.
