In 2023, the European Value Added of Scientific Research and Development by country highlights significant differences. The Netherlands leads with a value of €2.15 billion, showing a minor year-on-year increase of 0.65%. Finland follows with €1.79 billion, exhibiting a 2.73% rise. Belgium has a slight decrease of 3.34% to €1.52 billion. Portugal and Slovakia, despite their smaller bases, have seen solid growths of 4.23% and 3.46%, reaching €0.74701 billion and €0.33966 billion, respectively. Lithuania, although the lowest at €0.17536 billion, saw the highest year-on-year growth at 13.63%.
CAGR comparisons over the past five years indicate that regions with smaller initial values like Lithuania and Slovakia have substantial growth potential. Moreover, Finland and the Netherlands maintain steady increments, while Belgium needs to address its declining trend.
Future trends to watch for include potential increases in R&D spending in emerging European markets, greater EU funding allocations, and the impact of digital and technological innovations fueling growth in scientific research.
Top countries in Value Added of Scientific Research and Development by Country
| # | 6 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Netherlands | 2,150 | 2023 | -0.56% | +0.65% | View data |
| 2 | 2 Finland | 1,790 | 2023 | +0.22% | +2.73% | View data |
| 3 | 3 Belgium | 1,520 | 2023 | +1.46% | -3.34% | View data |
| 4 | 4 Portugal | 747.01 | 2023 | +3.15% | +4.23% | View data |
| 5 | 5 Slovakia | 339.66 | 2023 | +4.19% | +3.46% | View data |
| 6 | 6 Lithuania | 175.36 | 2023 | +11.36% | +13.63% | View data |
