In this article, we take a look at the 5 most developed countries in the world. If you want to check out our detailed analysis of the state of technological development, go instead to 25 Most Developed Countries in the World.
5. South Korea
R&D Spending : 4.8%
South Korea, or the Republic of Korea, is an East Asian country known for companies that produce bleeding edge technologies. It is home to Samsung Electronics Co., Ltd. (KSE:005930.KS), a major electronics manufacturer, currently pushing Moore’s Law boundaries by producing chips using the latest 3nm fabrication process.
South Korea held 6% share in the overall global KTI output in 2019. Out of this, Its share for computer and other electronics’ development and manufacturing was 9% and scientific R&D was 6.8%. Its GDP size as of 2021 is $1.8 trillion.
4. Germany
R&D Spending : 3.1%
Germany is the largest economy in Europe and is at the forefront of R&D in novel technologies.
Its Research-&-Development spending accounted for 3.1% of its 2020 GDP of $3.8 trillion. Its KTI output had a 17% share in its 2019 GDP and a 6% share in the overall global output. Its share for scientific-R&D in the global KTI output was 4.1%
Some of the prominent technology companies in the country include BioNTech SE (NASDAQ:BNTX), CureVac N.V. (NASDAQ:CVAC), Bechtle AG (XETRA:BC8.DE) and Infineon Technologies AG among many others. Germany had a whopping 65,757 patent applications from residents in 2021 and over 29,000 patents were granted.
Pixabay/Public Domain
3. Japan
R&D Spending : 3.2%
Japan is one of the most advanced countries in the world with a $5 trillion economy as of 2021. Its high-tech industries accounted for 8% of the overall global KTI output in 2019. In fact, the share of KTI industries in GDP is one of the highest in Japan. It was 14% in 2019, with 3% accounting for high-tech R&D alone.
Japan is also at the forefront of automation and is the leader in the export of robotics technology. It manufactures and sells 45% of all industrial robots according to the International Federation of Robotics.
Pixabay/Public Domain
2. China
R&D Spending : 2.4%
China is fast emerging as a global competitor to the United States, with its economy projected to surpass the latter’s around 2030 according to research from CEBR. Its GDP size is $18 trillion as of 2021.
China’s share of KTI output in its GDP is already higher than that of the US, at 16% as of 2019 but most of it is made up of medium-tech KTI industries while its high-tech output is lower than that of the United States, at 4.9%. However, its lower only marginally.
Its global KTI-output share is at 22% and it is second only to that of the US. Most of China’s KTI revolves around medium-high-tech product manufacturing and it is the largest exporter of high-tech products in the world.
Pixabay/Public Domain
1. United States
R&D Spending : 3.4%
The United States remains the top pick on the list of most developed countries in the world in terms of technological growth. It is home to the majority of the biggest technology companies in the world and California’s Silicon Valley is frequently regarded as the global center for innovation.
Its global KTI output is also the highest in the world, at 27% as of 2019. The share of the KTI sector in its GDP of $21 trillion was 11% as of 2021. Information technology accounts for over half of the share in its KTI industries.
Pixabay/Public Domain
You can also take a peek at 5 Largest Countries in the World and 5 Happiest Countries in the World.
