As of 2023, South Korea leads global R&D expenditure with 5.16% of GDP, followed by the United States at 3.58%. Belgium and Switzerland are close contenders. Throughout 2023, countries like Iceland, Estonia, and Cyprus have shown significant R&D growth, whereas Denmark and Luxembourg witnessed a decline. Major economies like Germany and Japan showed minimal fluctuations, maintaining steady expenditure rates. Eastern European countries like Poland and Greece also recorded notable increases.
Looking forward, expect trends such as increased competition in technological innovation, shifts due to technological breakthroughs, and the impact of geopolitical factors on R&D funding. Countries emphasizing green technologies may see higher allocations in R&D budgets. Monitoring economic strategies regarding digital transitions will be crucial to anticipate changes in global R&D expenditure.
Top countries in Intramural R&D Expenditure in the All Sectors by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 South Korea | 5.16 | 2023 | +2.26% | +2.69% | View data |
| 2 | 2 United States | 3.58 | 2023 | +1.59% | +3.9% | View data |
| 3 | 3 Belgium | 3.49 | 2023 | +0.84% | +4.09% | View data |
| 4 | 4 Switzerland | 3.42 | 2023 | +1.09% | +1.76% | View data |
| 5 | 5 Sweden | 3.41 | 2023 | +0.029% | +0.53% | View data |
| 6 | 6 Austria | 3.34 | 2023 | +1.33% | +1.57% | View data |
| 7 | 7 Japan | 3.34 | 2023 | +0.03% | +0.73% | View data |
| 8 | 8 Germany | 3.13 | 2023 | -0.032% | +0.1% | View data |
| 9 | 9 Finland | 3.09 | 2023 | +1.54% | +2.31% | View data |
| 10 | 10 Iceland | 2.93 | 2023 | +1.91% | +7.92% | View data |
