The forecasted data for Australia's investment in R&D as a percentage of GDP indicates a slight decrease from 0.9% in 2024 to a stable 0.8% from 2025 to 2028. In 2023, the actual investment stood at 1.1% of GDP. This shows a year-on-year decline of approximately 18.2% from 2023 to 2024 and a stabilization onwards. The cumulative average growth rate (CAGR) for the 2024-2028 period is -2.2% annually, reflecting a consistent but minor decrease.
Future trends to watch for include the potential impact of new government policies promoting innovation, changes in global economic conditions, and potential shifts in private sector investment priorities. Keeping an eye on international R&D benchmarks and Australia's comparative performance will also be crucial for understanding long-term trends.
