The business-financed gross domestic expenditure on R&D in Canada, expressed as a percentage of GDP, stood at 0.56% in 2023. The forecast for the years 2024 to 2028 indicates a downward trend, declining from 0.55% in 2024 to 0.49% by 2028. The year-on-year variation shows a consistent reduction of approximately 3.64% between 2024 and 2025, and about 3.77% from 2025 to 2026. The Compound Annual Growth Rate (CAGR) over this period is expected to be around -2.54%, indicating a gradual decline in business-financed R&D expenditure.

Future Trends to Watch For:

Potential impacts of economic fluctuations on R&D investments.
Shifts in government policies or initiatives that may encourage increased R&D spending.
Technological advancements that could disrupt current R&D expenditure trends.
Changes in international trade and collaborations influencing R&D funding and efforts.