In 2023, China dominated global R&D expenditure in the manufacture of basic metals, with a significant investment of 34.63 billion USD. Japan, the United States, South Korea, and Germany followed but with much smaller contributions. Notably, China's expenditure grew by 4.99% from the previous year, signaling robust investment strategies, while South Korea and Germany experienced slight declines. Over the last five years, the compound annual growth rate highlights consistent increases in countries like China, whereas Germany's growth rate reflects challenges in maintaining its R&D investments.
Future trends to watch for include:
- Continued growth in China's R&D investment as it strengthens its global industrial position.
- Potential strategic shifts in South Korea and Germany to counter recent declines.
- Emerging trends in Taiwan and Canada's research focus, indicated by their positive growth rates.
- Geopolitical influences and technological advancements that could redirect R&D priorities globally.
Top countries in Business Enterprise R&D Expenditure in Manufacture of Basic Metals by Country
| # | 10 Countries | Million US Dollars PPP = 2015 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 34,630 | 2023 | +6.54% | +4.99% | View data |
| 2 | 2 Japan | 2,330 | 2023 | +2.7% | +0.7% | View data |
| 3 | 3 United States | 913.94 | 2023 | +3.53% | +2.8% | View data |
| 4 | 4 South Korea | 808.66 | 2023 | +0.15% | -0.52% | View data |
| 5 | 5 Germany | 541.01 | 2023 | -2.76% | -5.07% | View data |
| 6 | 6 Taiwan | 230.92 | 2023 | +1.92% | +5.9% | View data |
| 7 | 7 Canada | 212.54 | 2023 | +0.021% | +4.59% | View data |
| 8 | 8 Italy | 157.92 | 2023 | +7.56% | +0.75% | View data |
| 9 | 9 Norway | 48.25 | 2023 | +4.22% | +0.85% | View data |
| 10 | 10 Finland | 26.34 | 2023 | -2.06% | -4.2% | View data |
