Israel was followed by South Korea, which invested 5% of its GDP on research and development, followed by Taiwan with 4% of its investments going towards R&D. This amounts to $59.9 billion made for research and development in Taiwan in 2023, and is an 8.8% increase from the past five years. Other countries in the top ten which invested the most in research and development in 2023 were Sweden (3.6% of GDP) and the US (3.4% of GDP).
Even though the US is the fifth country with the largest share of its GDP spent on research and development, it amounts to $823.4 billion, which is the highest in the world. China’s R&D investment has increased a lot since 2000, as it just touched the $723 billion figure which is the second highest all over the world.
| Country | Research and Development Spending as a Percentage of Gross Domestic Product |
|---|---|
| Israel | 6.3% |
| South Korea | 5.0% |
| Taiwan | 4.0% |
| Sweden | 3.6% |
| United States | 3.4% |
| Japan | 3.4% |
| Belgium | 3.3% |
| Switzerland | 3.3% |
| Austria | 3.3% |
| Germany | 3.1% |
| Finland | 3.1% |
| Denmark | 3.0% |
| United Kingdom | 2.8% |
| Iceland | 2.7% |
| China | 2.6% |
| Netherlands | 2.2% |
| France | 2.2% |
| Slovenia | 2.1% |
| Norway | 1.9% |
| Singapore | 1.8% |
| Estonia | 1.8% |
| Czechia | 1.8% |
| Canada | 1.8% |
| Portugal | 1.7% |
| Australia | 1.7% |
| Ireland | 1.6% |
| Poland | 1.6% |
| Spain | 1.5% |
| Greece | 1.5% |
| New Zealand | 1.5% |
| Türkiye | 1.4% |
| Croatia | 1.4% |
| Hungary | 1.4% |
| Italy | 1.3% |
| Lithuania | 1.0% |
| Slovak Republic | 1.0% |
| Luxembourg | 1.0% |
| Latvia | 0.8% |
| Bulgaria | 0.8% |
| South Africa | 0.6% |
| Argentina | 0.6% |
| Romania | 0.5% |
| Chile | 0.4% |
| Colombia | 0.3% |
| Costa Rica | 0.3% |
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by Arooj Ahmed via Digital Information World
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