In 2024, China leads global R&D expenditure in high and medium-high intensive industries, surpassing the United States and Japan. Year-on-year variation reveals significant growth in Estonia and Latvia, whereas Finland and Canada faced declines. Taiwan and Hungary also posted strong growth. Overall, Eastern European countries like Poland and Romania showed robust increases. Despite a mixed performance, Germany and South Korea maintained a stable presence.
Future trends to watch include the continued rise of Asian markets, driven by increased innovation investments in China, Taiwan, and South Korea. A potential shift in R&D dynamics could occur as emerging markets increase their activities, challenging the traditional dominance of Western countries.
Top countries in Business Enterprise Expenditure on R&D Performed in High and Medium-High R&D Intensive Industries by Country
| # | 10 Countries | Million US Dollars PPP, Constant | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 298,130,000,000 | 2023 | +6.19% | +8% | View data |
| 2 | 2 United States | 268,280,000,000 | 2023 | +1.98% | +2.93% | View data |
| 3 | 3 Japan | 102,760,000,000 | 2023 | +1.02% | +0.019% | View data |
| 4 | 4 Germany | 75,128,000,000 | 2023 | +4.07% | +1.59% | View data |
| 5 | 5 South Korea | 73,580,000,000 | 2023 | +3.83% | +3.49% | View data |
| 6 | 6 Taiwan | 46,570,000,000 | 2023 | +10.43% | +11.11% | View data |
| 7 | 7 Italy | 10,738,000,000 | 2023 | +1.11% | +0.54% | View data |
| 8 | 8 Belgium | 5,865,700,000 | 2023 | +2.41% | +3.16% | View data |
| 9 | 9 Sweden | 5,359,300,000 | 2023 | -0.68% | -0.21% | View data |
| 10 | 10 Spain | 4,525,700,000 | 2023 | +1.63% | +1.42% | View data |
