As of 2023, China leads global industrial R&D spending at $521.15 billion PPP, followed by the United States at $408.85 billion PPP. Japan and South Korea maintain significant, though smaller contributions at $146.19 billion and $89.19 billion PPP respectively. European nations like Russia, Austria, and the Czech Republic display more modest R&D investments.
Year-on-year growth in 2023 highlights China's dominance with 4.17% increase, while the US gained 2.42%. Japan's growth was slower at 1.54%, with South Korea up by 3.4%. Notably, Mexico's R&D investment saw a decline of 2.2%.
Looking forward, significant investments are expected from emerging economies, with the potential for broader R&D collaboration globally. Asia is likely to remain a hotspot for R&D expenditure growth, driven by innovation and technology-focused policies in China and South Korea.
Top countries in Gross Domestic Expenditure on R&D Financed by Industry by Country
| # | 10 Countries | Million US Dollars PPP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 521,150 | 2023 | +4.05% | +4.17% | View data |
| 2 | 2 United States | 408,850 | 2023 | +2.41% | +2.42% | View data |
| 3 | 3 Japan | 146,190 | 2023 | +1.56% | +1.54% | View data |
| 4 | 4 South Korea | 89,190 | 2023 | +3.42% | +3.4% | View data |
| 5 | 5 Russia | 14,090 | 2023 | +2.39% | +2.86% | View data |
| 6 | 6 Austria | 10,440 | 2023 | +3.42% | +3.74% | View data |
| 7 | 7 Czech Republic | 3,210 | 2023 | +2.62% | +3.24% | View data |
| 8 | 8 Greece | 1,990 | 2023 | +3.87% | +3.98% | View data |
| 9 | 9 Mexico | 1,340 | 2023 | -2.43% | -2.2% | View data |
| 10 | 10 Slovakia | 887.83 | 2023 | +3.66% | +4.1% | View data |
