In 2023, the actual government expenditure on R&D in Canada was approximately 2.04 billion US dollars PPP. The forecasted data from 2024 to 2028 shows stability, with expenditures remaining at 2.04 billion for several years and slightly decreasing to 2.03 billion in 2027 and 2028. This indicates a negligible year-on-year change and suggests a stable trend over the period.
The compound annual growth rate (CAGR) over the last five years reflects zero growth, emphasizing a consistent R&D allocation by the government.
Future trends to watch for include potential policy shifts or economic conditions that could influence increased investment in innovation, digital transformation, and technology sectors, or adjustments following international R&D benchmarks to boost competitiveness. Monitoring these trends will be crucial to anticipate any changes in the R&D expenditure trajectory.
