In 2023, South Korea led in government-financed R&D expenditure relative to GDP. Following were the United States and Slovenia. Most countries, including Spain, Canada, and Portugal, experienced a year-on-year increase, with the latter showing the highest growth. Meanwhile, countries like Germany, Ireland, and Croatia faced declines. Over the past five years, changes have varied, with Portugal and Argentina showing positive CAGRs, while Mexico, Ireland, and Croatia experienced declines. Notably, Japan showcased a slight downturn over recent years.
Looking ahead, countries intensifying investments like South Korea and Portugal should strengthen their R&D sectors, while nations with declining trends may need strategic alterations to enhance innovation capabilities.
Top countries in Government-Financed Business Enterprise Expenditure on R&D by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 South Korea | 0.21 | 2023 | +1.9% | +5.82% | View data |
| 2 | 2 United States | 0.14 | 2023 | +0.07% | +2.98% | View data |
| 3 | 3 Slovenia | 0.12 | 2023 | +0.87% | +5.38% | View data |
| 4 | 4 New Zealand | 0.11 | 2023 | +3.39% | +4.23% | View data |
| 5 | 5 Netherlands | 0.1 | 2023 | +1.19% | +2.32% | View data |
| 6 | 6 Belgium | 0.092 | 2023 | +0.33% | +4.19% | View data |
| 7 | 7 Spain | 0.09 | 2023 | +4.54% | +7.24% | View data |
| 8 | 8 Canada | 0.081 | 2023 | +6.14% | +7.71% | View data |
| 9 | 9 Germany | 0.066 | 2023 | -0.45% | -0.18% | View data |
| 10 | 10 Portugal | 0.065 | 2023 | +3.48% | +10.89% | View data |
