In 2023, China led R&D expenditure in the manufacture of wearing apparel with $2.87 billion, maintaining its leadership position. Italy and South Korea followed, but with significantly lower investments. Significant year-on-year growth was observed in Taiwan and Portugal, with 16.5% and 18.59% respectively, suggesting a ramp-up in innovation and development activities. Conversely, Japan and Canada saw the most substantial declines, hinting at budget reallocations or strategic pivots. Over the past five years, the CAGR indicates modest annual increases in most countries, but consistent declines for Japan and Canada.
Future trends to watch include:
- China's continued dominance with possible increased R&D as it enhances its technological capabilities.
- The growing importance of Taiwan and Portugal indicating potential newcomers in global apparel innovations.
- Market players should monitor potential fluctuations in R&D spending in traditionally strong regions like Italy.
Top countries in Business Enterprise R&D Expenditure in Manufacture of Wearing Apparel by Country
| # | 10 Countries | Million US Dollars PPP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 2,870 | 2023 | +2.4% | +3.31% | View data |
| 2 | 2 Italy | 409.03 | 2023 | +0.5% | -3.89% | View data |
| 3 | 3 South Korea | 354.85 | 2023 | +3.56% | +3.52% | View data |
| 4 | 4 Germany | 62.43 | 2023 | +0.18% | +3.8% | View data |
| 5 | 5 Japan | 30.51 | 2023 | +1.58% | -10.15% | View data |
| 6 | 6 Taiwan | 29.5 | 2023 | +2.61% | +16.5% | View data |
| 7 | 7 Portugal | 23.36 | 2023 | +3.58% | +18.59% | View data |
| 8 | 8 Poland | 9.18 | 2023 | +10.77% | -1.58% | View data |
| 9 | 9 Slovenia | 4.78 | 2023 | +4.43% | +4.34% | View data |
| 10 | 10 Canada | 2.75 | 2023 | -8.23% | -13.85% | View data |
