The Exponential Rise of China's R&D Spending

What We're Showing

This chart tracks gross domestic expenditure on research & development (GERD) from 2007 to 2023 across four major economies: China, the U.S., the EU, and Japan.

The figures are in constant USD purchasing power parity (PPP), meaning that they are adjusted for inflation and account for cost-of-living and price level differences across economies. The data comes from the OECD.

Key Takeaways

• China’s R&D spending has grown more than fivefold, rising from $136B in 2007 to $781B in 2023, overtaking the EU and Japan.
• The United States remains the global leader, with R&D spending reaching $823B in 2023, up from $461B in 2007.
• Europe's R&D spending grew modestly, from $336B in 2007 to $504B in 2023.
• Japan’s R&D investment has plateaued, hovering around $170B–$190B between 2007 and 2023.