For 2021 government R&D budgets, the picture was more varied, with spending growing in the Republic of Korea and Germany, but falling in the US and Japan. Government budget allocations for the top R&D spending economies showed strong growth in 2020. Investments in global R&D in 2020 grew at a rate of 3.3 percent, but slowed from the historically high 6.1 percent R&D growth rate recorded in 2019. This increase was primarily driven by four industries: ICT hardware and electrical equipment Software and ICT services pharmaceuticals and biotechnology and construction and industrial metals.
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