In 2023, China's R&D expenditure in the manufacture of electrical equipment remains dominant, accounting for 78.45 million US Dollars at 2015 PPP. The United States and Germany follow, albeit significantly behind, with 8.56 and 6.09 million US Dollars, respectively. Notably, China's year-on-year increase leads at 9.09%, showcasing its robust growth strategy. While Latvia experienced a substantial 27.06% rise, Lithuania's spending saw a notable decline of 13.92%. CAGRs over the last five years indicate mixed trends, with some countries gaining momentum and others showing a downtrend.
Future trends to watch include China's ongoing expansion in R&D, potentially widening the gap with other nations. Growth in other emerging economies, such as Israel and the Czech Republic, may signal diversification in global R&D leadership. Conversely, structural changes in traditional manufacturing markets could influence future expenditure patterns.
Top countries in Business Enterprise R&D Expenditure in Manufacture of Electrical Equipment Share by Country (Million US Dollars PPP = 2015)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 78.45 | 2023 | +8.82% | +9.09% | View data |
| 2 | 2 United States | 8.56 | 2023 | +2.27% | +4.44% | View data |
| 3 | 3 Germany | 6.09 | 2023 | +3.05% | +2.01% | View data |
| 4 | 4 Italy | 1.57 | 2023 | +7.06% | +2% | View data |
| 5 | 5 Taiwan | 1.12 | 2023 | -1.82% | +0.76% | View data |
| 6 | 6 Israel | 0.74 | 2023 | +2.5% | +7.92% | View data |
| 7 | 7 Czech Republic | 0.68 | 2023 | +4.81% | +5.06% | View data |
| 8 | 8 United Kingdom | 0.5 | 2023 | +1.61% | +1.33% | View data |
| 9 | 9 Spain | 0.46 | 2023 | -0.17% | +0.83% | View data |
| 10 | 10 Canada | 0.41 | 2023 | +3.84% | -1% | View data |
