The United States leads in R&D expenditure financed by the private non-profit sector, valued at 24.99 billion USD PPP in 2023, showcasing robust growth. Japan and South Korea follow at 1.24 and 0.34 billion USD PPP. Russia, Austria, Mexico, Iceland, and Slovakia have comparatively lower R&D spending. Over the past year, Austria and Iceland exhibited notable growth, with increases of 4.36% and 4.28% respectively, whereas Slovakia dipped slightly by 0.31%. In the last five years, on average, the private non-profit sector funding for R&D has demonstrated a steady increase.
Future trends to watch include emerging technologies and sustainable innovations, which may drive increased investment by private non-profit sectors globally, particularly in nations ramping up their innovation initiatives. Shifts towards digital transformation and green technologies could reshape R&D priorities and funding allocations across countries.
Top countries in Gross Domestic Expenditure on R&D Financed by Private Non-Profit Sector by Country
| # | 8 Countries | Million US Dollars PPP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 24,990 | 2023 | +2.73% | +2.86% | View data |
| 2 | 2 Japan | 1,240 | 2023 | +0.76% | +1.73% | View data |
| 3 | 3 South Korea | 340.54 | 2023 | +2.02% | +2.23% | View data |
| 4 | 4 Russia | 137.36 | 2023 | +4.16% | +4.27% | View data |
| 5 | 5 Austria | 114.28 | 2023 | +3.9% | +4.36% | View data |
| 6 | 6 Mexico | 73.96 | 2023 | +2.15% | +1.86% | View data |
| 7 | 7 Iceland | 9.56 | 2023 | +2.94% | +4.28% | View data |
| 8 | 8 Slovakia | 3.68 | 2023 | +1.26% | -0.31% | View data |
