In 2023, Canada’s government expenditure on R&D stood at 2.5 billion US dollars (PPP). The forecast indicates a steady increase from 2.53 billion US dollars in 2024 to 2.66 billion US dollars in 2028. This reflects a year-on-year growth rate of approximately 1.19% in 2024, 1.19% in 2025, and 1.55% in 2026, reaching a CAGR of about 1.26% over the five-year period from 2024 to 2028.
Looking forward, it’s crucial to monitor factors such as technological advancements, governmental policy adjustments, and international collaborations, which could significantly influence these expenditure trends. Continued global economic conditions and national budget allocations will also play a pivotal role in shaping future R&D spending.
