In 2023, the United States led global government R&D budget allocations, amounting to $54.09 million. Germany and South Korea followed with $12.6 million and $8.85 million, respectively. Year-on-year variations in 2023 show significant growth in South Korea (9.07%) and the United States (7.49%). Hungary, Greece, and Colombia also displayed notable increases, while the Czech Republic and Romania saw declines. The compound annual growth rate (CAGR) over the previous five years highlights sustained growth in countries like South Korea and the United States.
Future trends to watch include the shifting priorities in global economic conditions, where emerging technologies and strategic investments in AI, renewable energy, and healthcare R&D may influence budget allocations. Additionally, geopolitical tensions and environmental concerns are expected to impact funding patterns in the upcoming years.
Top countries in Government Budget Allocations for R&D Share by Country (Million US Dollars)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 54.09 | 2023 | +6.96% | +7.49% | View data |
| 2 | 2 Germany | 12.6 | 2023 | +3.26% | +4.42% | View data |
| 3 | 3 South Korea | 8.85 | 2023 | +6.95% | +9.07% | View data |
| 4 | 4 France | 5.21 | 2023 | +0.1% | +1.16% | View data |
| 5 | 5 Russia | 4.8 | 2023 | +0.92% | +4.22% | View data |
| 6 | 6 Spain | 2.81 | 2023 | +1.38% | +3.27% | View data |
| 7 | 7 Taiwan | 2.14 | 2023 | -0.96% | +1.52% | View data |
| 8 | 8 Netherlands | 2.13 | 2023 | +1.2% | +4.49% | View data |
| 9 | 9 Australia | 1.35 | 2023 | +0.98% | +1.97% | View data |
| 10 | 10 Sweden | 1.07 | 2023 | +0.93% | +1.3% | View data |
