In 2023, Taiwan led in R&D expenditure for the manufacture of basic precious and non-ferrous metals, at $56.22 million US Dollars in PPP, showing a 5.94% increase. Poland followed closely at $53.17 million, growing by 3.11%. Norway's expenditure was $52.57 million, with a 2.22% rise. The UK showed moderate growth at 3.85%, with $36.75 million. Iceland and Portugal reported minimal spending at $2.82 million and $1.73 million, rising by 4.53% and 1.55% respectively. Mexico's investment significantly decreased by 31.65%, at $0.39 million.
Future trends to watch:
- Asian countries, with Taiwan at the forefront, may continue to dominate R&D investments as they strive for technological advancement.
- Europe, particularly Poland and Norway, will likely maintain steady growth by enhancing their R&D capabilities.
- The UK may strengthen its R&D focus post-Brexit to remain competitive in the metals sector.
- Watch for policy changes that could influence Mexico's negative trend, possibly revitalizing its R&D commitment.
Top countries in Business Enterprise R&D Expenditure in Manufacture of Basic Precious and Other Non-Ferrous Metals; Casting of Non-Ferrous Metals. By Country
| # | 7 Countries | Million US Dollars PPP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Taiwan | 56.22 | 2023 | +3.23% | +5.94% | View data |
| 2 | 2 Poland | 53.17 | 2023 | +3.91% | +3.11% | View data |
| 3 | 3 Norway | 52.57 | 2023 | +2.24% | +2.22% | View data |
| 4 | 4 United Kingdom | 36.75 | 2023 | +2.4% | +3.85% | View data |
| 5 | 5 Iceland | 2.82 | 2023 | +4.55% | +4.53% | View data |
| 6 | 6 Portugal | 1.73 | 2023 | +1.82% | +1.55% | View data |
| 7 | 7 Mexico | 0.39 | 2023 | -54.67% | -31.65% | View data |
