In 2023, South Korea led in global R&D expenditure in natural sciences with $17.71 billion, with a year-on-year increase of 5.49%. Taiwan and Poland followed, spending $3.92 billion and $3.45 billion, respectively, noting significant growth of 10.02% and 14.52%. The Czech Republic and Canada observed modest increases, whereas Russia's growth was minimal. Smaller economies like Singapore, Hungary, and Portugal saw notable increases, particularly Portugal with a 10.56% rise. Latvia showed unexpected growth, while Romania's figures decreased by 2.5%.
Future trends to watch include:
- Continued investment growth in South Korea and Taiwan.
- Potential shifts in spending priorities due to global economic conditions.
- Emerging economies increasing their R&D budgets, enhancing innovation capabilities.
- Impact of geopolitical tensions on Russia's R&D expenditures.
Top countries in Business Enterprise Expenditure on R&D in Natural Sciences by Country
| # | 10 Countries | Million US Dollars PPP = 2015 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 South Korea | 17,710 | 2023 | +5.17% | +5.49% | View data |
| 2 | 2 Taiwan | 3,920 | 2023 | +9.2% | +10.02% | View data |
| 3 | 3 Poland | 3,450 | 2023 | +12.03% | +14.52% | View data |
| 4 | 4 Czech Republic | 1,770 | 2023 | +7.48% | +8.76% | View data |
| 5 | 5 Canada | 1,600 | 2023 | -0.69% | +4.06% | View data |
| 6 | 6 Russia | 1,350 | 2023 | -0.42% | +2.22% | View data |
| 7 | 7 Singapore | 695.42 | 2023 | +3.46% | +6.59% | View data |
| 8 | 8 Hungary | 653.68 | 2023 | +2.49% | +2.69% | View data |
| 9 | 9 Portugal | 642.03 | 2023 | +7.08% | +10.56% | View data |
| 10 | 10 Slovenia | 368.13 | 2023 | +3.09% | +6.57% | View data |
