The analysis of the Total Government Research and Development Expenditure in Australia reveals a consistent downward trend over the past decade. In 2013, R&D expenditure accounted for 2.18% of GDP. By 2023, this figure had decreased to 1.89%, showing a gradual decline. The year-on-year variation has consistently shown small reductions, with the highest drop being 6.33% in 2015. The CAGR over the last five years indicates an average annual decline of approximately 0.54%.

Looking forward, the forecasted data suggests a continued decrease in R&D expenditure, with a projected figure of 1.84% of GDP by 2028. The forecasted 5-year CAGR is expected to be about -0.43%, indicating a persistent but slightly slower rate of reduction compared to the past decade. Overall, the total decline over the next five years is predicted to be around -2.14%.

Future trends to watch for:

Potential policy changes or budget reallocations that could impact government R&D funding.
Evolving priorities in science and technology sectors that may influence government investment strategies.
Economic factors driving changes in GDP that could affect the relative percentage of R&D expenditure.