The forecast for R&D expenditure in Australia as a percentage of GDP for the years 2024 to 2028 shows a gradual decline from 1.74% in 2024 to 1.67% in 2028. In 2023, the actual R&D expenditure stood at 1.75% of GDP, reflecting a slight decrease over time. The year-on-year variation indicates a consistent decrease of approximately 0.02 to 0.03 percentage points annually.
Key Trends and CAGR Analysis:
- From 2024 to 2025: -1.15%
- From 2025 to 2026: -1.16%
- From 2026 to 2027: -0.59%
- From 2027 to 2028: -1.18%
- 5-Year CAGR: -1.15%
Future trends to watch for include government policy changes, economic conditions impacting funding allocations, and technological advancements driving R&D investment. Monitoring these factors can provide insights into potential shifts in the forecasted decline.
