In 2023, Germany leads European R&D expenditure in manufacturing rubber and plastic products at 1.4 billion Euros, with a 3.1% annual increase. Spain follows but shows a decline, down by 1.56%. Portugal and Slovakia demonstrate significant growth, rising by 10.23% and 10.3%, respectively. Finland's R&D expenditure increases modestly at 0.99%. Lithuania and Latvia show contrasting trends, with Lithuania decreasing by 0.89% and Latvia increasing by 4.96%.
Future trends to watch include Germany’s continued dominance amidst technological advancements. Portugal and Slovakia's consistent increase suggests potential emerging leadership in innovation, while Spain may need strategic adjustments to reverse its negative trend.
Top countries in Business Enterprise R&D Expenditure in Manufacture of Rubber and Plastic Products by Country
| # | 7 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 1,400 | 2023 | +2.38% | +3.1% | View data |
| 2 | 2 Spain | 98 | 2023 | -0.16% | -1.56% | View data |
| 3 | 3 Portugal | 62.97 | 2023 | +5.12% | +10.23% | View data |
| 4 | 4 Finland | 50.17 | 2023 | +2.37% | +0.99% | View data |
| 5 | 5 Slovakia | 35.91 | 2023 | +13.2% | +10.3% | View data |
| 6 | 6 Lithuania | 1.26 | 2023 | +4.3% | -0.89% | View data |
| 7 | 7 Latvia | 0.63 | 2023 | +11.68% | +4.96% | View data |
