In 2023, Canada's government expenditure on R&D in natural sciences and engineering stood at approximately 1.89 billion USD PPP based on 2015 values. The forecast from 2024 to 2028 suggests a stable yet slightly declining trend, with expenditure maintaining 1.88 billion USD PPP in 2024 and 2025, followed by a decrease to 1.86 billion USD PPP by 2027 and 2028.
Key observations:
- The expenditure remains largely steady between 2024 and 2025, showing a slight decrease of approximately 1.1% by 2028 compared to 2024.
- The 5-year compound annual growth rate (CAGR) indicates a minor decline, reflecting modest reductions in governmental R&D investment over the forecast period.
Future trends to watch for:
- Shifts in governmental budget priorities, which could influence R&D spending.
- Potential increases in collaborative public-private sector initiatives, potentially impacting funding allocations.
