The data for 2023 reveals that Costa Rica leads in Global Business Enterprise Expenditure on R&D financed by the higher education and private non-profit sectors, with notable growth of 0.37%. Countries like Lithuania and Spain saw substantial year-on-year increases, reaching 22.82% and 14.32%, respectively. However, significant declines were observed in countries such as Canada (-29.26%) and Slovenia (-13.06%). Argentina experienced the highest growth rate at 34.53%, indicating a potential shift in R&D investment priorities.
Looking ahead to 2024, the focus may be on emerging markets like Argentina and previously steady performers such as Lithuania. Countries with shrinking R&D expenditures, such as Canada, will need strategic shifts to regain their footing. Continued investment from non-traditional sectors in R&D could drive innovation, especially in countries experiencing rapid growth.
Top countries in Business Enterprise Expenditure on R&D Financed by the Higher Education and Private Non-Profit Sectors by Country
| # | 10 Countries | Percent of Total BERD | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Costa Rica | 3.57 | 2023 | +0.11% | +0.37% | View data |
| 2 | 2 New Zealand | 1.58 | 2021 | +6.93% | View data | |
| 3 | 3 Netherlands | 1.06 | 2023 | +2.09% | +2.83% | View data |
| 4 | 4 Belgium | 0.62 | 2023 | +2.08% | +13.25% | View data |
| 5 | 5 United Kingdom | 0.58 | 2021 | -7.63% | View data | |
| 6 | 6 Denmark | 0.54 | 2023 | +0.76% | -2.77% | View data |
| 7 | 7 Israel | 0.42 | 2023 | +0.59% | -2.53% | View data |
| 8 | 8 Spain | 0.35 | 2023 | +6% | +14.32% | View data |
| 9 | 9 Bulgaria | 0.31 | 2023 | +0.0037% | +3% | View data |
| 10 | 10 Lithuania | 0.29 | 2023 | -3.9% | +22.82% | View data |
