In 2023, Germany led business R&D expenditure in natural sciences and engineering at 5.89 billion USD PPP. South Korea follows with 3.47 billion USD PPP, marking the largest year-on-year increase of 34.04%. Other notable rises include Lithuania (18.39%) and Estonia (18.05%). Despite Slovenia's slight decline (-3.57%), most countries, including Poland, Italy, Hungary, Czech Republic, and others, saw incremental growth. Noteworthy is the modest expenditure from Baltic nations like Latvia and Lithuania compared to larger economies.
Looking ahead, increased investment in technology and innovation sectors will likely drive growth in R&D expenditure, focusing on sustainable and digital advancements. Geopolitical shifts and collaborations are crucial factors influencing these trends.
Top countries in Business Enterprise R&D Expenditure in Research and Experimental Development on Natural Sciences and Engineering by Country
| # | 10 Countries | Million US Dollars PPP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 5,890 | 2023 | +7% | +8.62% | View data |
| 2 | 2 South Korea | 3,470 | 2023 | +9.78% | +34.04% | View data |
| 3 | 3 Poland | 2,260 | 2023 | +6.88% | +6.43% | View data |
| 4 | 4 Italy | 1,710 | 2023 | +2.1% | +3.54% | View data |
| 5 | 5 Hungary | 1,180 | 2023 | +14.81% | +6.53% | View data |
| 6 | 6 Czech Republic | 803.82 | 2023 | +1.55% | +3.41% | View data |
| 7 | 7 Norway | 771.99 | 2023 | +3.82% | +5.13% | View data |
| 8 | 8 Portugal | 298.19 | 2023 | +5.65% | +10.34% | View data |
| 9 | 9 Lithuania | 207.08 | 2023 | +8.37% | +18.39% | View data |
| 10 | 10 Iceland | 156.08 | 2023 | +2.79% | +11.11% | View data |
