The 2023 data shows China leading global R&D expenditure in machinery and equipment manufacturing at 51.75 billion USD PPP, followed by the United States and Japan. Year-on-year changes indicate positive growth for China, driven by an 8.44% increase, and notable increases in South Korea and Latvia. Conversely, Japan and Germany saw slight declines, alongside other European countries with marginal decreases. The 5-year CAGR highlights a generally upward trend, with significant growth in Eastern European countries, and more modest in Western nations.
Future trends to watch include:
- China's continued expansion in R&D investment, potentially widening its lead in the sector.
- Resurgence potential for countries like Japan and Germany to regain momentum.
- Emerging growth in Eastern European and Nordic sectors driven by innovation incentives.
- Possible volatility influenced by geopolitical shifts impacting global trade and investment flows.
Top countries in Business Enterprise R&D Expenditure in Manufacture of Machinery and Equipment by Country
| # | 10 Countries | Million US Dollars PPP = 2015 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 51,750 | 2023 | +3.96% | +8.44% | View data |
| 2 | 2 United States | 14,480 | 2023 | +1.15% | +0.62% | View data |
| 3 | 3 Japan | 13,550 | 2023 | +4.85% | -0.27% | View data |
| 4 | 4 Germany | 8,560 | 2023 | +1.24% | -0.4% | View data |
| 5 | 5 South Korea | 5,000 | 2023 | +4.02% | +4.21% | View data |
| 6 | 6 Taiwan | 1,090 | 2023 | +3.26% | +2.54% | View data |
| 7 | 7 Canada | 692.41 | 2023 | +2.07% | +0.28% | View data |
| 8 | 8 Finland | 625 | 2023 | +1.22% | +3.14% | View data |
| 9 | 9 Spain | 412.68 | 2023 | +1.25% | +0.6% | View data |
| 10 | 10 Poland | 391.69 | 2023 | +7.47% | +6.44% | View data |
