In 2023, China led global experimental development expenditures with 507.24 billion PPP USD, showing a 4.25% year-on-year increase. The United States followed at 373.67 billion, growing by 2.5%. Japan and Iceland's expenditures grew modestly by 1.68% and 0.65% respectively, while Mexico saw a decline of 0.91%. From 2019-2023, China maintained a robust compound annual growth rate; however, the US and Japan exhibited slower increases, while Mexico experienced volatility.
Future trends indicate that China is likely to continue its leadership through increased focus on innovation. Emerging economies may intensify efforts to boost their rankings, driven by both governmental and private sector initiatives. Consequently, global competition for technological advancements will rise, necessitating strategic investments from both developed and emerging nations.
Top countries in Experimental Development Expenditures by Business Enterprise by Country
| # | 5 Countries | Million US Dollars PPP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 507,240 | 2023 | +4.05% | +4.25% | View data |
| 2 | 2 United States | 373,670 | 2023 | +2.5% | +2.5% | View data |
| 3 | 3 Japan | 111,570 | 2023 | +1.64% | +1.68% | View data |
| 4 | 4 Mexico | 1,310 | 2023 | -1.13% | -0.91% | View data |
| 5 | 5 Iceland | 121.33 | 2023 | +1.2% | +0.65% | View data |
