In 2023, South Korea maintained its position as the leader in R&D expenditure in engineering and technology with $70.9 billion, followed by Taiwan with $46.41 billion. While Latvia, though smaller in scale, experienced the highest growth rate at 16.34%, indicating a growing emphasis on R&D. Conversely, Chile saw a slight decline. Over the last five years, there has been a steady Compound Annual Growth Rate (CAGR) across these countries, with emerging markets showing potential for significant investment growth.
Future trends to monitor include the accelerating R&D investments from Taiwan and Eastern European nations like Poland and Hungary, which may reshape the global R&D landscape. Additionally, economic shifts and governmental policies could influence future R&D allocation and priorities across these regions.
Top countries in Business Enterprise Expenditure on R&D in Engineering and Technology by Country
| # | 10 Countries | Million US Dollars PPP = 2015 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 South Korea | 70,900 | 2023 | +4.03% | +3.69% | View data |
| 2 | 2 Taiwan | 46,410 | 2023 | +9.59% | +10.41% | View data |
| 3 | 3 Russia | 22,400 | 2023 | +1.06% | +3.5% | View data |
| 4 | 4 Canada | 13,710 | 2023 | +1.65% | +1.32% | View data |
| 5 | 5 Poland | 8,050 | 2023 | +5.17% | +4.72% | View data |
| 6 | 6 Singapore | 5,300 | 2023 | +2.12% | +3.7% | View data |
| 7 | 7 Hungary | 3,420 | 2023 | +5.29% | +6.04% | View data |
| 8 | 8 Czech Republic | 3,360 | 2023 | +2.26% | +0.72% | View data |
| 9 | 9 Portugal | 2,270 | 2023 | +3.28% | +8.71% | View data |
| 10 | 10 Romania | 1,550 | 2023 | +3.45% | +1.83% | View data |
