The Gross Domestic Expenditure on Research and Development (GERD) in Belgium has shown a consistent upward trend. From 2013 to 2023, GERD increased from 9.54 to 12.55 thousand persons. The year-on-year growth rate decreased gradually from 4.24% in 2013 to 2.26% in 2023, while the CAGR over the last five years leading up to 2023 stood at 2.48%. This indicates steady but decelerating growth in R&D investments.

Looking forward, the forecast data suggests that GERD will further increase to 13.86 thousand persons by 2028. The forecasted average annual growth rate (CAGR) over the next five years is projected to be 1.57%, with an overall growth rate of 8.07% over the period from 2024 to 2028.

Future trends to watch for:

The impact of potential economic shifts or policy changes on R&D investments.
Evolving sectors within R&D that may drive higher growth rates.
Integration and influence of emerging technologies such as Artificial Intelligence (AI) and biotechnology in R&D expenditure.