In 2023, Germany led European government expenditure on R&D in Earth exploration and exploitation with €1.46 billion, followed by Italy with €574.14 million and Spain with €132.39 million. Austria, Greece, Portugal, and Lithuania trailed with significantly lower spending.
Year-on-year variations for 2023 revealed Italy and Austria increased their R&D spending by 1.04% and 5.28%, respectively. Conversely, Lithuania experienced a significant decline of 23.66% in expenditure. These fluctuations reflect varied national priorities and economic conditions.
Future trends to watch in the European R&D sector may include increased investments in sustainable and renewable energy technologies as countries attempt to meet climate goals and energy independence. Emerging technologies, like AI in geological research, could also influence funding priorities.
Top countries in Government Expenditure on R&D in Exploration and Exploitation of the Earth by Country
| # | 7 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 1,460 | 2021 | +7.52% | +6.99% | View data |
| 2 | 2 Italy | 574.14 | 2023 | +2.01% | +1.04% | View data |
| 3 | 3 Spain | 132.39 | 2023 | +2.12% | +0.83% | View data |
| 4 | 4 Austria | 48.82 | 2023 | +3.5% | +5.28% | View data |
| 5 | 5 Greece | 25.44 | 2023 | -2.87% | +0.91% | View data |
| 6 | 6 Portugal | 10.09 | 2023 | +0.03% | +0.58% | View data |
| 7 | 7 Lithuania | 0.11 | 2023 | -32.12% | -23.66% | View data |
