Forecast: R&D Expenditure in South Africa

Over the past decade, South Africa's R&D expenditure as a percentage of GDP has experienced a fluctuating trend. From a peak of 0.76 in 2017, it has been on a consistent decline, reaching 0.55 in 2023, with an average yearly decrease of 4.21% over the last five years. The year-on-year variations also highlight a significant downward shift, with a notable drop of 2.27% from 2022 to 2023. Forecast data up to 2028 suggests this downward trend will continue, albeit at a slower rate, with an expected 5-year CAGR of -0.91% and a total forecasted decrease of 4.47% by 2028.

- Long-term trends show a decline in R&D expenditure relative to GDP.

- Declines may be slowing, as indicated by the reduced forecasted 5-year CAGR.

- Monitoring fiscal policy adjustments and political commitment to innovation will be crucial for future expenditure trends.