In 2024, South Korea leads global business enterprise expenditure on R&D in engineering and technology at 78.78 billion USD PPP. It is followed by Taiwan with significant growth, Russia, and Canada. Poland shows a robust increase, while Singapore, Hungary, and Portugal demonstrate steady investments. Czech Republic, Romania, Slovakia, and Slovenia maintain moderate activity, while Chile and Latvia trail with minor contributions. In 2023, Taiwan and Latvia saw the highest year-on-year increases at 13.93% and 25.13% respectively, and a 5-year CAGR reveals that Eastern European countries are gaining momentum.
Future trends to watch include technological advances in AI and green tech, likely driving increased investments in these sectors. Continued economic developments might reshape the global landscape in R&D expenditure, particularly in emerging markets.
Top countries in Business Enterprise Expenditure on R&D in Engineering and Technology by Country
| # | 10 Countries | Million US Dollars PPP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 South Korea | 78,780 | 2023 | +5.11% | +4.85% | View data |
| 2 | 2 Taiwan | 53,030 | 2023 | +13.75% | +13.93% | View data |
| 3 | 3 Russia | 27,450 | 2023 | +2.42% | +4.93% | View data |
| 4 | 4 Canada | 15,450 | 2023 | +2.58% | +2.22% | View data |
| 5 | 5 Poland | 9,230 | 2023 | +5.98% | +6.76% | View data |
| 6 | 6 Singapore | 6,110 | 2023 | +3.19% | +5.62% | View data |
| 7 | 7 Czech Republic | 4,120 | 2023 | +3.63% | +2.98% | View data |
| 8 | 8 Hungary | 3,980 | 2023 | +7.01% | +8.18% | View data |
| 9 | 9 Portugal | 2,940 | 2023 | +9.12% | +12.81% | View data |
| 10 | 10 Romania | 2,150 | 2023 | +6.34% | +5.73% | View data |
