Singapore's Gross Domestic Expenditure on R&D (GERD) has been showing positive growth trends. In 2023, the expenditure was $13.5 billion PPP. Forecasts for the next five years indicate a steady increase: $13.84 billion in 2024, $14.2 billion in 2025, $14.56 billion in 2026, $14.91 billion in 2027, and $15.26 billion in 2028.
- The year-on-year variation shows a consistent growth of approximately 2.6% from 2024 to 2025, and about 2.5% from 2025 to 2026. - Between 2026 to 2027, the increase is around 2.4%, while from 2027 to 2028, the variation stands at about 2.3%.- Across the five-year period, the Compound Annual Growth Rate (CAGR) is projected to be approximately 2.4%.
Watch for trends in innovation sectors such as digital technology, green energy, and biopharmaceuticals, which could further propel R&D expenditure. Also, keep an eye on government funding policies and international collaborations that might impact future R&D investments.
