China leads in global business enterprise R&D expenditure in machinery and equipment manufacturing, showing significant growth (8.44% increase in 2023). The United States, Japan, and Germany follow, with minimal or negative growth for Japan and Germany. South Korea and Taiwan display moderate increases.
Smaller contributors like Poland, Finland, Iceland, and Romania exhibit notable growth rates, while countries like Hungary and the Czech Republic have experienced downturns. The robust increase in Latvia signifies emerging potential. Portugal also saw considerable growth, contrasting sharply with declines in Mexico and Estonia.
Future trends to watch include the continued rise of China, influenced by its strategic focus on technology advancement. Developments in AI, automation, and sustainable technology are likely to drive R&D investment growth globally, especially from emerging economies looking to expand their technological footprint.
Top countries in Business Enterprise R&D Expenditure in Manufacture of Machinery and Equipment Share by Country (Million US Dollars PPP = 2015)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 53.15 | 2023 | +3.96% | +8.44% | View data |
| 2 | 2 United States | 14.87 | 2023 | +1.15% | +0.62% | View data |
| 3 | 3 Japan | 13.91 | 2023 | +4.85% | -0.27% | View data |
| 4 | 4 Germany | 8.79 | 2023 | +1.24% | -0.4% | View data |
| 5 | 5 South Korea | 5.14 | 2023 | +4.02% | +4.21% | View data |
| 6 | 6 Taiwan | 1.12 | 2023 | +3.26% | +2.54% | View data |
| 7 | 7 Canada | 0.71 | 2023 | +2.07% | +0.28% | View data |
| 8 | 8 Finland | 0.64 | 2023 | +1.22% | +3.14% | View data |
| 9 | 9 Spain | 0.42 | 2023 | +1.25% | +0.6% | View data |
| 10 | 10 Poland | 0.4 | 2023 | +7.47% | +6.44% | View data |
