In 2023, China led global R&D expenditure among businesses with significant year-on-year growth of 4.23%, trailed by the United States and Japan, which increased by 2.49% and 1.56%, respectively. South Korea and Taiwan also showed robust R&D spending growth. Notably, Bulgaria and Cyprus posted impressive growth rates of 4.4% and 4.97%. Meanwhile, Mexico and Egypt saw declines, with Egypt experiencing the steepest drop.
Future trends to watch include:
- Increased emphasis on technology and innovation in Asian countries that may continue fueling R&D growth.
- Potential for Europe to catch up through targeted investments and collaborative projects.
- Shift in policy focus could either bolster or restrain R&D expenditure growth in emerging markets like Egypt and Mexico.
Top countries in Business Enterprise Expenditure on R&D by Country
| # | 10 Countries | US Dollars PPP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 527,960 | 2023 | +4.06% | +4.23% | View data |
| 2 | 2 United States | 477,260 | 2023 | +2.47% | +2.49% | View data |
| 3 | 3 Japan | 147,030 | 2023 | +1.56% | +1.56% | View data |
| 4 | 4 South Korea | 93,420 | 2023 | +3.46% | +3.4% | View data |
| 5 | 5 Taiwan | 40,910 | 2023 | +3.44% | +3.28% | View data |
| 6 | 6 Russia | 25,850 | 2023 | +1.52% | +2.3% | View data |
| 7 | 7 Italy | 25,840 | 2023 | +2.88% | +2.95% | View data |
| 8 | 8 Israel | 18,560 | 2023 | +3.54% | +3.54% | View data |
| 9 | 9 Netherlands | 16,220 | 2023 | +3.43% | +2.43% | View data |
| 10 | 10 Spain | 14,810 | 2023 | +2.41% | +2.16% | View data |
