In 2023, Italy led with a business expenditure of 36.18 million euros in R&D for computer, electronic, and optical product manufacturing. Finland followed with 29.32 million euros, significantly ahead of Belgium at 13.35 million euros. The expenditure in smaller Eastern European economies like Serbia exhibited remarkable growth, with Serbia's R&D investment surging by 155.19%. While larger economies showed modest year-on-year growth rates ranging from 0.53% in Italy to 4.54% in Belgium, Portugal had the highest growth among these countries with 7.73%. Notably, Malta experienced a decline in R&D expenditure, decreasing by 2.02%.
Future trends to watch for in European R&D expenditures in this sector include the potential acceleration of investment in emerging markets such as Eastern European countries, driven by increased digitalization and technological advancements. Additionally, Western European nations may continue enhancing their R&D budgets to maintain competitive advantage, ensuring sustainable growth in innovation.
Top countries in Business Expenditure on R&D in Computer, Electronic and Optical Products Manufacturing Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 36.18 | 2023 | +0.43% | +0.53% | View data |
| 2 | 2 Finland | 29.32 | 2023 | -1.54% | +1.46% | View data |
| 3 | 3 Belgium | 13.35 | 2023 | +5.1% | +4.54% | View data |
| 4 | 4 Sweden | 6.6 | 2021 | -30.59% | View data | |
| 5 | 5 Czech Republic | 5.08 | 2023 | +5.44% | +5.33% | View data |
| 6 | 6 Spain | 3.17 | 2021 | View data | ||
| 7 | 7 Poland | 3.09 | 2023 | +5.17% | +5.67% | View data |
| 8 | 8 Portugal | 1.7 | 2023 | +3.26% | +7.73% | View data |
| 9 | 9 Hungary | 0.7 | 2021 | View data | ||
| 10 | 10 Slovakia | 0.49 | 2023 | +4.12% | +1.99% | View data |
