In 2023, the United States led global private non-profit sector R&D expenditure, reaching $23.12 billion, with a 2.35% year-on-year increase. Canada and Japan followed with expenditures of $1.3 and $1.21 billion, growing at 1.64% and 1.05%, respectively. South Korea and Austria witnessed significant growth, with Austria experiencing a 3.44% rise. Other notable increases were Mexico at 0.81% and Iceland at 3.96%. Contrary to this trend, Greece saw a decrease of 2.12%. Over the past five years, Austria and Iceland have shown stable growth, while Greece reflects volatility.
Future trends to watch include emerging markets' role in R&D expenditure expansion, especially in tech-focused countries. Continued growth in private non-profit sector R&D investments in North America and Asia will likely drive innovation, while economic stability might influence these countries' capacity to invest effectively.
Top countries in Gross Domestic Expenditure on R&D Financed by Private Non-Profit Sector by Country
| # | 9 Countries | Million US Dollars PPP, Constant | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 23,120 | 2023 | +2.18% | +2.35% | View data |
| 2 | 2 Canada | 1,300 | 2023 | +1.94% | +1.64% | View data |
| 3 | 3 Japan | 1,210 | 2023 | +0.16% | +1.05% | View data |
| 4 | 4 South Korea | 320.32 | 2023 | +1.46% | +1.61% | View data |
| 5 | 5 Austria | 100.46 | 2023 | +3.24% | +3.44% | View data |
| 6 | 6 Mexico | 65.26 | 2023 | +1.17% | +0.81% | View data |
| 7 | 7 Greece | 19.86 | 2023 | +0.25% | -2.12% | View data |
| 8 | 8 Iceland | 8.67 | 2023 | +2.45% | +3.96% | View data |
| 9 | 9 Czech Republic | 6.87 | 2023 | +2.17% | +1.16% | View data |
