In 2023, Canada's government expenditure on R&D across all fields stood at approximately 2.42 billion US dollars PPP. Forecasts indicate a steady increase from 2024 to 2028, with values rising from 2.45 to 2.54 billion US dollars PPP. This demonstrates a moderate, consistent growth pattern. The year-on-year variation suggests incremental increases, with the compound annual growth rate (CAGR) over these five years indicating a modest average annual increase.
Future trends to watch for include potential shifts in government policies affecting R&D funding, technological advancements driving new research domains, and economic factors influencing budget allocations for innovation and development.
