The analysis of global business enterprise R&D expenditure shows that China leads by a significant margin with a value of 339.4 trillion USD PPP in 2023, marking a 10.81% year-on-year increase. Japan and South Korea follow with values of 106.4 and 81.4 trillion USD PPP respectively, both showing modest growth. Taiwan exhibits the most significant surge among prominent countries, having increased by 14.33%. On the lower end, Iceland and several Eastern European countries show much smaller R&D expenditure figures, but with notable growth trends, such as Latvia's 19.79% increase. Noteworthy is Canada's decline of 4.57%.
Future trends to be aware of include the potential for China to expand its dominance further, given its substantial R&D investments. Taiwan’s sharp increase suggests increasing competition in technological innovation, and Eastern European countries, though small in investment value presently, could leverage high growth rates to become emerging players in medium-high R&D intensive industries.
Top countries in Business Enterprise Expenditure on R&D Performed in High and Medium-High R&D Intensive Industries by Country
| # | 10 Countries | Million US Dollars PPP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 339,380,000,000 | 2023 | +8.95% | +10.81% | View data |
| 2 | 2 Japan | 106,440,000,000 | 2023 | +1.24% | +0.79% | View data |
| 3 | 3 South Korea | 81,369,000,000 | 2023 | +4.74% | +4.56% | View data |
| 4 | 4 Germany | 80,275,000,000 | 2023 | +2.41% | +0.82% | View data |
| 5 | 5 Taiwan | 54,050,000,000 | 2023 | +13.76% | +14.33% | View data |
| 6 | 6 Italy | 13,856,000,000 | 2023 | +3.25% | +3.5% | View data |
| 7 | 7 United Kingdom | 13,301,000,000 | 2023 | +2.51% | +2.53% | View data |
| 8 | 8 Austria | 7,051,500,000 | 2023 | +3.16% | +3.98% | View data |
| 9 | 9 Belgium | 6,966,000,000 | 2023 | +3.4% | +4.75% | View data |
| 10 | 10 Sweden | 6,174,800,000 | 2023 | +0.55% | +1.46% | View data |
