The United States and Japan experienced significant declines of 28.02% and 27.91%, respectively, in R&D budget allocations for agriculture in 2023. In contrast, Denmark saw a notable increase of 90.17%, while countries like Estonia and Latvia experienced growths of 41.53% and 16.49%, respectively. South Korea and the UK maintained modest improvements, at 0.58% and 2.42%. In terms of five-year CAGR, it is anticipated that emerging economies will sustain growth as a result of increased agricultural innovation efforts.
Future trends to watch include:
- Continued investments in technology-driven agricultural solutions, particularly in countries showing recent positive trends.
- The impact of global geopolitical tensions and economic conditions on government budget allocations.
- Collaborations and partnerships between countries and private sectors aimed at boosting agricultural innovation and sustainability.
Top countries in Government Budget Appropriations or Outlays for R&D in Agriculture Share by Country (Million US Dollars PPP, Constant)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 32.16 | 2023 | -11.93% | -28.02% | View data |
| 2 | 2 South Korea | 27.51 | 2023 | +4.41% | +0.58% | View data |
| 3 | 3 United Kingdom | 22.46 | 2023 | +2.53% | +2.42% | View data |
| 4 | 4 Japan | 8.79 | 2023 | -7.26% | -27.91% | View data |
| 5 | 5 Belgium | 5.4 | 2023 | +4.06% | +5.15% | View data |
| 6 | 6 Czech Republic | 3.7 | 2023 | +4.17% | +4.46% | View data |
| 7 | 7 Greece | 2.72 | 2023 | +4.68% | +4.21% | View data |
| 8 | 8 Denmark | 2.64 | 2023 | +0.62% | +90.17% | View data |
| 9 | 9 Finland | 2.59 | 2023 | +2.58% | +0.41% | View data |
| 10 | 10 Portugal | 1.67 | 2023 | +2.86% | +3.53% | View data |
