Industrial research and development, 2022 (actual), 2023 (preliminary) and 2024 (intentions)

Businesses in Canada continued their upward trend in research and development (R&D) spending in 2022, reaching new heights and building on the steady increase that began in 2016. All told, Canadian businesses spent a record $30.4 billion on in-house R&D in 2022, an increase of 9.4% from 2021.

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