The global private non-profit expenditure on R&D in engineering and technology for 2024 sees South Korea leading with substantial growth, bolstered by a 16.62% increase in 2023. Japan follows with a modest 0.91% rise. Italy shows positive momentum with a 6.51% increase, while Russia experiences a decline of 4.96%. Notable growth is observed in Portugal with a 35.79% increase and Canada with a 23.41% rise. Slovakia and Russia face the sharpest declines, at -45.75% and -4.96%, respectively. Estonia exhibits significant growth with 43.1%, indicating rapid development in smaller markets.
Looking forward, South Korea and Portugal are projected to maintain growth due to increased innovation investments. Nonetheless, volatility is expected in emerging markets like Estonia and Poland, where large percentage shifts may occur as they scale. Established economies like Japan and Italy will likely pursue steady, albeit slower, growth by adopting cutting-edge technologies. Monitoring geopolitical influences and policy changes will be crucial to anticipating shifts in global R&D investments.
Top countries in Private Non-Profit Expenditure on R&D in Engineering and Technology Share by Country (Million US Dollars PPP)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 South Korea | 61.04 | 2023 | +12.56% | +16.62% | View data |
| 2 | 2 Japan | 29.13 | 2023 | +0.77% | +0.91% | View data |
| 3 | 3 Italy | 2.96 | 2023 | +4.27% | +6.51% | View data |
| 4 | 4 Russia | 1.27 | 2023 | +0.71% | -4.96% | View data |
| 5 | 5 Poland | 0.88 | 2023 | +24.99% | +16.28% | View data |
| 6 | 6 Portugal | 0.84 | 2023 | +0.51% | +35.79% | View data |
| 7 | 7 Chile | 0.82 | 2023 | +2.5% | +3.78% | View data |
| 8 | 8 Spain | 0.37 | 2023 | +0.015% | +3.6% | View data |
| 9 | 9 Canada | 0.36 | 2023 | +20.72% | +23.41% | View data |
| 10 | 10 Taiwan | 0.25 | 2023 | -0.066% | +8% | View data |
