In 2023, Singapore's Gross Domestic Expenditure on R&D stood at 1.82% of GDP. The forecasted figures denote a gradual decline in R&D expenditure from 2024 to 2028. The year-on-year variations show a -0.55% change from 2023 to 2024, -0.55% from 2024 to 2025, -0.56% from 2025 to 2026, -0.56% from 2026 to 2027, and -1.12% from 2027 to 2028. Over the last two years, the expenditure decreased by approximately 0.55% per year.

Future trends to watch for include:

Government and private sector initiatives for boosting innovation and R&D investment to reverse the declining trend.
Potential impacts of global economic shifts, including changes in trade policies and international collaboration on R&D activities.
Technological advancements that may influence the allocation of R&D budgets towards emerging sectors like AI, biotechnology, and sustainable technologies.