In 2023, Poland led in European business R&D expenditure focused on scientific research, with significant investments reaching 1.25 billion euros. Italy and Spain followed closely, at approximately 0.92 billion euros. Countries like Sweden, Finland, and the Czech Republic showed moderate R&D spending, contrasting with lower investments seen in Malta and Bosnia and Herzegovina. Notable percentage increases in R&D expenditure during 2023 were observed in Belgium and Portugal, each exceeding 20%, while Serbia also saw substantial growth. In contrast, Malta experienced a significant decline of nearly 14%.
Looking ahead to 2024 and beyond, European countries are expected to continue diversifying their R&D investments, with a specific focus on innovation in technology and sustainable practices. This trend will likely drive increased collaboration across sectors, encouraging cross-border partnerships to address global challenges and improve competitive advantage.
Top countries in Business Expenditure on R&D in Scientific Research and Development Activities by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Poland | 1,250 | 2023 | +6.3% | +6.94% | View data |
| 2 | 2 Spain | 922.17 | 2021 | View data | ||
| 3 | 3 Italy | 915.35 | 2023 | +6.01% | +2.86% | View data |
| 4 | 4 Sweden | 480.03 | 2023 | +4.26% | +5.54% | View data |
| 5 | 5 Czech Republic | 276.4 | 2023 | +0.72% | +0.52% | View data |
| 6 | 6 Finland | 194.53 | 2023 | +2.91% | +3.27% | View data |
| 7 | 7 Serbia | 143.35 | 2023 | +25.02% | +8.54% | View data |
| 8 | 8 Portugal | 128.93 | 2023 | +14.84% | +20.27% | View data |
| 9 | 9 Belgium | 46.73 | 2023 | +7.63% | +20.55% | View data |
| 10 | 10 Slovakia | 40.16 | 2023 | +2.49% | +16.52% | View data |
