In 2023, Serbia led European business expenditure on R&D in scientific activities, exceeding 0.3% of GDP, with a notable annual growth of 6.28%. Poland followed with a strong performance at 0.21% of GDP, growing by 3.06%. Contrastingly, the Czech Republic experienced a decline in R&D expenditure, decreasing by 3.01%. Sweden and Finland maintained stable investment levels, with Sweden's R&D reaching 0.085% and Finland at 0.08% of GDP. Portugal marked an impressive increase with a 17.5% growth rate. Noteworthy is Belgium’s 20.11% growth, even though its share of GDP remained at 0.01%.
Future trends to watch include Serbia and Poland potentially consolidating their leading positions in R&D expenditures relative to GDP. Attention should also be given to Portugal and Belgium, given their rapid percentage increase, suggesting potential emerging R&D centers. Factors such as EU funding initiatives and strategic collaboration could significantly impact these dynamics moving forward.
Top countries in Business Expenditure on R&D in Scientific Research and Development Activities by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Serbia | 0.3 | 2023 | +21.37% | +6.28% | View data |
| 2 | 2 Poland | 0.21 | 2023 | +4.02% | +3.06% | View data |
| 3 | 3 Czech Republic | 0.11 | 2023 | -3.54% | -3.01% | View data |
| 4 | 4 Sweden | 0.085 | 2023 | +2.41% | +2.13% | View data |
| 5 | 5 Finland | 0.08 | 2023 | +2.56% | +2.42% | View data |
| 6 | 6 Spain | 0.076 | 2021 | View data | ||
| 7 | 7 Portugal | 0.056 | 2023 | +12% | +17.5% | View data |
| 8 | 8 Italy | 0.051 | 2023 | +6.25% | +2.53% | View data |
| 9 | 9 Slovakia | 0.027 | 2023 | 0% | +5.15% | View data |
| 10 | 10 Belgium | 0.01 | 2023 | +11.11% | +20.11% | View data |
