European Business Expenditure on R&D in the Repair and Installation of Machinery and Equipment significantly varies by country. In 2023, the Czech Republic had the highest expenditure relative to GDP amongst the examined countries, with a year-on-year growth of 4.56%. Belgium showed remarkable growth at 24.57%, while Portugal also experienced an increase of 10.76%. Conversely, Italy faced a sharp decline of 19.73%, and Sweden slightly decreased by 4.36%. Poland and Serbia showed no change in expenditure. Over the last five years, trends are indicative of gradual growth but uneven performance across nations.
Looking ahead, European countries are expected to continue diversifying their R&D investments in this sector. Key trends to watch include technological innovation and increased cross-border collaboration aimed at optimizing machinery and equipment life cycles, with emphasis on sustainability and cost efficiency. Economic uncertainties may impact investment levels and policy stimuli will be crucial for future growth.
Top countries in Business Expenditure on R&D in Repair and Installation of Machinery and Equipment by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Czech Republic | 0.01 | 2023 | +11.11% | +4.56% | View data |
| 2 | 2 Belgium | 0.009 | 2023 | +12.5% | +24.57% | View data |
| 3 | 3 Hungary | 0.008 | 2021 | View data | ||
| 4 | 4 Finland | 0.005 | 2021 | -16.06% | View data | |
| 5 | 5 Portugal | 0.005 | 2023 | 0% | +10.76% | View data |
| 6 | 6 Poland | 0.004 | 2023 | 0% | 0% | View data |
| 7 | 7 Italy | 0.003 | 2023 | 0% | -19.73% | View data |
| 8 | 8 Serbia | 0.003 | 2023 | 0% | View data | |
| 9 | 9 Sweden | 0.002 | 2023 | 0% | -4.36% | View data |
| 10 | 10 Spain | 0.002 | 2021 | View data |
